Evening journal., 1900-11-06
A FOX-HUNTER
TURNED MORALIST

TURNED MORALISTI
once remarked: "Half lile's failures
come from pulling in your horse as he
Is leaping." Failure 70 insure gener-
ally comes from pulling in good inn
pulses at the wrong time.
Business men are not always alive to
the fact that it is quite as necessary to
insure brains and capital as it is 10 in
sure merchandise and buildings;
hence we find that many successful
firms depend largely upon the name,
tact and individual effort OF an asso-
ciate whose actual business value
alone they leave uninsured.
Adaptation Of the systems of insur-
ance to meet most of the requirements
OF life has received earnest attention,
and the method devised for the protec-
ton Of business interests has proved
one OF the most popular and valuable
OF the many plans for providing se-
curity and indemnity. 1t is called
"ioint life" or partnership insur-
ance." and It enables two or more as
sociates of different ages to insure
their lives for the benefit of the sur
vivor or survivors.
II Is unnecessary to state here that
no partnership can exist in which
Death does not take share, ana hi,
share is often the head and front anc
lbrains Of the house. The loss IN ltsei
of the man IS usually severe one Du
the withdrawal Of his capital from th'
Arm often renders it necessary to wine
up the business to the pecuniary dis
advantage Of the living members
Partnership Insurance provides
AGAINST this contingency; death ma.
remove the man, but does not disturb
the financial equilibrium OF the busi
ness in which he was engaged. For eN
ample: Two men commence busines
as partners. investing $4,000 in equa
shares. In the event of the death o
, one partner the survivor Is almost IN
, variably called upon by the heirs q
the deceased for q settlement
AXE away half the capital would seri
)usly cripple the business. 1t is oh
. 7iously to the interest of both to pro
vide against such a contingency b
partnership insurance. paying the pre-
MUM as one of the expenses Of th
business. thus securing the contint
e. ince of the capital to a surviving part
5 ner. Aside from its protective fes
h lures this form Of policy is especial
4 | valuable. inasmuch as It can readily
i used as a collateral security possessin
D 4 money value which every bank,
y and merchant will recognize. II pc
b 'orms double service; and in II
, event OF long life to both partners Il
- policy which has helped and protecte
hem viii each year increase in Walt
70 rs an asset of the firm into which
2 must ultimately fall
Is Where men have been wise enoua
! 10 take this form of insurance u
e ieath of one member of the firm tent
g TO maintain the financial interests
j the survivors, for they are furnishC
> with an immediate cash capital wit
which to purchase the partnersh
;hara of the deceased. Where the
IRE three or more partners, all may
Jointly insured; but where the insu
lnce risk is so increased of course d
premium is larger. Every form Of 1
4, 'urance that IS worth anything cos
I. money and this form IS an investme
10 constantly increasing in value whic
4 while it may involve some temporal
sacrifices, in the end it will be fouI
4 financial anchor to windward Of Il
utmost Importance.
In consideration of the Joint Pc
Icy Of Insurance the following poin
suggest themselves: In the event of
{ | dissolution of partnership. the existil
y Insurance will constitute one OF {.
available assets, and its exact val
can be at once ascertained.
AS a question Of business manag
So ment it viii always be found more a
70 yantageous to pay an annual sum Z
20 that which will provide capital In q
NJ event Of a moneyed partners deaf
& than to share the profits with a ne
"a conner or to find security and pay /
10 terest for capital borrowed.
le The premium paid on a joint Ii
ie policy should be regarded simply as
le necessary business charge, to be elias
ed with rents, fire insurance or take
and entered as an item of expense a
ll count.
This expense never can result In al
!. loss to the firm and it may be a sour
- Of great gain, for in case Of the ear
m death Of either partner the amount
!. the policy is secured after but a fe
- payments.
IA The cost Of such insurance is
4 larger proportionately, than the DIT
MUM upon single life, and is just
advantageous to the insured as the q
N dinary policy.
il II 1t is understood by the credito
OF a mercantile house, that the pan
IA ners' lives are Jointly insured for [.
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