New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1898-12-18
ANNUITIES.
GROWING DESIRE TO INNEST IN
THEM IN AMERICA

corporations doing business in that line that the
custom or buying them, which Is popular I'm
soi'e parts OF Europe is growing in favor In
uis country To some people who have given
the matter attention the fact that annuities are
gaining IN popularity Is demonstra ton Of the
1act that Americans are growing more selfish
that the number of bachelors IS increasing and
that the class Of people who do not wish 10 be
bothered with matters Of business is gaining in
numbers.
THE business of annuities" said William D.
Whiting, which is widely known in Europe IS
OF recent growth here. The inquiry on the sub
Jet Is extending more and more as the rate OF
interest falls. With further drop in interest
which is probable in the near future. the in
QuIy will be more extended, especially by those
who arc DESTROYS Of securing a fixed income for
themselves or others. free from the vcissitudes
OF interest. expense and worry attending bust
ness operations. Heretofore the rates OF in
tcr,st offered in business enterprises were too
great TO permit the establishment OF companies
that had to take all the risks Of a proba BILE drop
In rates to undertake annuity risks. 1t was
plain that the future would not maintain such
high rates OF prof, and interest. but it was hard
to convince the public Of this. A large company
10y its ability TO average out the risk of indi-
Ndual investment by reason Of the various in
vestments into which ii enters and It's greater
facility and economy in doing Wholesale invest
ment business, makes its annuity policies at
tractive for persons who desire a fixed income
and no bother
Another point in connection with annuilies Is !
that the annuitant converts his chance Of dying
into interest. because in case OF death the prin
cipal sum paid for the annuity remains with the
company. For instance. If the rate Of interest
free from losses and expenses Of investment is
estimated at per cent and the mans chance OF
dying is estimated at per cent. then he may
obtain in the form OF annuity an investment |
which will yield him per cent per annum as
long as he may live, which he could not obtain |
N any other way. On the other hand il must |
be quite apparent chat annuities are not desired |
by persons who wish to leave an estate to
others"
The annutant looks out for himself only while |
Ac man whose life is insured provides for those |
who survive him. The annujtant is selfish the |
insured man is frequently self sacrificing deny |
ng himself Injuries ard sometimes nccessaries
N order to pay premiums for the benefit Of wife
md children The bachelor. the man without a
amily, the man who has become cstransed from
us kinsfolk and wants to make SIRE that they
shall have none of his money when he passes
stocks and cards may make deep holes in their
capita. have been among the first to become in
torested in the annuity business.
Some years ago Lester Wailack and a number
Of actors made up purse with which they
bought an annuity for fellow actor who had
become incapacitated The man received only
one annual instan1ont before he ccd. and the
money which the old actor feared to handle re-
Vericd to the annuity company. This is not an
infrequent occurrence, because the annuity con-
Germs require II" medical examinations and do
not hesitate To say that it is imInatcrial to them
how soon the annuitant passes away
In Europe annuites are provided for younger
sons, incompctcnts and marriage portions but
little has been done in that direction in this
country.
AS TO the revenue derived from money placed
with annuity concerns" said an actUary that ,
depends on the age Of the annuitant There are
certain established rates based on -. per cent
interest They differ to age. sex and the fire. :
quency Of payments. Thus those who receive I
their proceeds annually receive more than the !
annutants who draw their interest quarterly or ,
half yearly. Money deposited foi an annuitant !
forty-iiVe years old Will yield per cent the
rate increases to per cent when the beneficiary
equal to II per cent: at seventy five years, II
per cent. and at s., years - per cent.
DECLFIIIT PHOTOGR4PHS or THE SULTAN
From The London Globe