Juniata sentinel and Republican. [volume] (Mifflintown, Juniata County, Pa.) 1873-1955, 1881-01-05
What a Citizen of Juniata County
THINKS OF
LIFE INSURANCE.
PoEr ROYAL. Pa, Dec 81, 1884

~our statements OF tne aCtions OF certal
Insurance agents operating in this county,
,bourht / saw an invitation extended TO an
ono 20 write on that subject, as this It'd.
NAVE of insurance is rolling up from th
Susouehanna and tumbling down over IN
TUscarora mountains into Juniata. Som
one should warn our people, so that the
/ may not be carried away onto the breakers
therefore will write on this subject. T.
he forewarned is TO be forearGied. It is no
many years siLce Life Insurance compaRie
we're chartered and commenced business il
the United States. Their officers were mar
rie6 men generally, that sought 10 furthe
increase their wealth by this manner; an'
If they had advertised them as speculations
and not as charitable institutions, ther,
would have been no deceptions; but TO th,
,,oorer class they hold out the charity side
and 10 the rich the speculative side, and
both are drped. The chances are nearly al
with the company but by having armies OF
agents. and by advertising, the great part oi
which IS done irnocently, and gratuitously,
by our papers, to wit, papers publish as
items Of news all benefits that persons re-
ceiye. while those that lose bear their losses
quietly. and even editors, Watching for
items. never find it out. The losses in this
county during the panic amounted to many
thousand dollars, yet the masses of the peo-
ple knew nothing about it. The salary of
the President of some of these institutions
are more than that paid to Washington and
Lincoln, while the percentage TO agents is
enormous, and yet people are willing TO be
dnped / have before me book. issued by
prominent insurance company, wherein is
table Of expectations of life, and l will
saw auv one that will study this table, and
knows how to count interest, will never get
his life insured, as he will find the advan-
tages are with the company. Let me Illus
irate. will first take the 10 year paid up
plan, and if a man at the age of 35 (Which
5 about the turn of !ife) takes out policy,
he will have to pay S5l.62 per year for 10
voars. which makes the sum OF s5l6.20,
while BY their table of expectations Re viii
live % years more, he is just as liable to
live over that time as die under. and if
1000 were insured at his age 80 years would
be the average expectations Now then,
hi, first paymen; of S5l % wonld be on in
2 terest % wears, his second paymen; % years,
his third payment p years, and so ON, down
10 20 wears, which would make a term of
2i5 years interest at Z per cent, on one
l,avment, which wouIi amount TO S15S.S0
interest, which, added to the payments,
would make the sum total of Sl215 paid TO
receive slUDe. Now for the Endowment
plan. bv which the insured receives back his
money after time. Now at 35 man
wouid pave to,pay the sum of ss6.4l per
year FOR 10 years, which viii amount to
S?6i.IO; but the first payment viii be al
interest for 10 years, second payment
wears, third payment S years: and 50 on,
down TO year; which will make 4j years
on one payment, and the interest would
amount to S26O.SO, which. added 10 the
payments, makes the sum total Oi 40,
paid, to receive $1,000. Now fer The lite
plan. 5his same person, aged 35, takes
policy for $1,000, payable at death, his az
nual payment will be S25.S7 for % years,
which will amount to S7719. 23, and the
first payment viii b. on interest 90 years,
the second payment Is years, the third pay
ment y years. SC, the sum Of wears on
one payment Will be 43G years, and at per
cent. viii produce the sum of S7O2-9O In
terest, which, together with the amount OF
payments, would make q sum OF Slis2 l3.
! have made all these calculations at simple
interest; what would they amount to at
compound INTEREST," And further, v hat Sc
curity under the sun has policy holder for
his money when dual Most persons who
have their lives insured would require the
best security of their neighbor for money
loaned, but will risk large sums with these
entire strangers. What else can we think
than that the insured belong TO one of the
three following classes: First, those that
hase more money than they can use; or,
they know they are diseased. and wish TO
act frsudalently; or, they are no tinanciers,
are not acquainted with the simplest rnles
of Arithmetic. But these companies gen.
orally take in moneyed men. aad they can
afford 10 pay for their experience, and this !
article would seem to be unnecessary as the 1
people are well acquainted with these |
agents, and being mostly strangers, are
treated accordingly, aud the busin, SIS has
declined in the rural districts, and the peo- |
pie were safe; but now, as you know, an
Infamous act has been passed by our august
Legislature, that makes ii possible TO estab- |
lish an institution on a plan OF mutual ex-
Penses, and benefits, principally the former,
in any town or county, and as all the stores, |
offices and shops are filed with she pros
pectuses Of companies of men that have |
just now found out how dear the people are
TO them, especially those poor old men |
verging on so years, that they seem to think |
they can take better care of them than their |
Maker. Has the Millennium come
Now, as the first part of this communica- !
tion has dealt with dying fraud, the latter
part will deal with very live one, and the |
greatest that this country ever grappled
with. These mutual plans form their in
sured into classes very good way to form /
boys into, in school; but when you form |
boys of IS years into classes il means much |
more. When France takes her census, she
does ii all in one day, by having an army of
enumerators. These companies operate on
the same plan before the Legislature knocks
the bottom out of it, or the people knock
the bottom out of them. The iiat has gone
forth from all quarters of this Common
wealth, agents wanted, $500 fee to the in
sured, and the meanest part is. you win find
your nearest and best friend will try TO take
you in. Let me illustrate this scheme. First
class consists of members aged 90 to 35-