Smyrna times., 1883-12-05

LIFE INSURANCE INSTITUTIONS
Life insurance stands to the people in
a very different relation now from
what it did fifteen and twenty wears
ago. Then it was on the high grade
principle; now it is on the low grade.
Much money was squandered by the
people, in trying to sustain themselves
i'll the life institutions of high-sounding
names in the cities. Finding the
heavy burdens growing with the years.
especially those insured on the half
note plan, they finally had to let the
thing go with all the money put in it.
Then, under the panic" pressure
these institutions went themselves, or
about three-quarters of them, and the
collapse was fearful in the loss that fell
upon confiding people who were part
ing with their hard-earned money in
the faith that they were really invest
ing means to secure their families
against want in the event of their death.
1t was no wonder that many of these
institutions went down; they were con-
Quoted in princely style, the presidents
In some cases receiving $4,000 per
year, and the secretaries in the same
ratio. Those that stood up through
the crash are the better for it and prob
ably furnish as safe means of invest
ment to those who can afford it as any
other monetary provision for the future:
but confidence once broken is hard to
regain, and with the mass of the people
however safe they may be, the obliga-
ton is so heavy as to amount to a GALL
ing yoke.
In the place of these have sprung up
as mediums of assurance flor every
careful man feels the great duty of pro-
viding for the future of his family.
beneficial societies, relief associations.
&c, that appeal from their inexpensive
and mutual character directly to the
heads OF families. They too have their
danger, but as payments required only
ON the death of a member, the amount
OF money in the hands of the officers is
never sufficient TO amount to a great
temptation. The principle underlying
the plan is that every man is his own
treasurer and keeps his money until it
is wanted. On the occasion of a death
each member pays his pro ratio accord
ing to the amount of insurance taken.
and his hand goes in his pocket only in
the event of death. A thousand or
two dollars pay the clerical expenses of
the association. Some of these are run
IN the interest of certain mechanical
pursuits with the machinery entirely in
the control Of men of their pursuit and
hence they become emphaticallv a
brotherhood, with community of in
terests.
1t is really the only practical wav
for men depending on their labor or
small incomes from business to assure
their lives. The benefits have been
felt in our community as we'll as in
others that we are continually reading
OF. In one case a man wanted to in
sure his life for his wife's benefit to the
amount of $4,000. She conceived an
objection to the association (mainlv. it
was presumed, from the secrecy which
was part of the conditions of member
ship and finally he insured for $1,000,
payable to his estate, and dying year
or so after, she got nothing.
Life assurances are in. any event a
tax to the living, and the man who as
sumes the burden can be Influenced
but by one mOtive-love for his family.
But this he owes them, and he is failing
in very essential duty if he has not
provided in some way for their com
fort when he is gone.