The independent. [volume] (Lincoln, Neb.) 1902-1907, 1904-07-21
LIFE INSURANCE As An INVEST
MEnT FOR FARMERS
Or How Jones Bought and Paid Fer
Six Thousaad Dollar Farm

The history OF Jones VIII ono ~
a nerson who owns eighty or more
acres Of land may double 1t. Also
how the rent saved by the purchase OF
a piece of land will almost pay LOT II.
If Won do not own as much land as
you care to farm and are paying rent,
by the yearly addition OF small
amount to the rent you now pay you
can buy the land as Jones did.
Mr. Jones owned a hundred ana
sixtv acres of land and rented an ad-
Joining quarter, paying three dollars
DER acre therefor. or $3.50 per year
cash rent. For years it was the hope
of Mr.. and Mrs. Jones to buy this land,
that when their boys (aged ten and
twelve years. grew to manhood It
would be unnecessary for them TO
leave the old homestead. Many were
the plans suggested and the ways de-
vised to secure this coveted quarter.
but as the owner of the land wanted
Sc, 900 for it, Mr.. Jones could not see
his way clear to buy it.
He reasoned that should he mort
gage both farms in order TO secure
the payment of the purchase price OF
one, and die, his family might lose
the farm they already owned. AS
the interest on the loan ($6,000) at 6
per cent would be $3.50 per year. with
in $120 of the rent he was paying, he
concluded to defer the purchase until
his boys could be Of more assistance.
One day Mr.. Clark, owner OF the
land informed Mr.. Jones it was his
intention to sell the farm and did
not care to renew the lease; which
would expire March /, 1902. Jones,
having farmed it for three years,
would. if he cared to buy for $4,000,
be given the first chance; if net, an
other party would take it. While Mr..
Jones was in doubt and hesitating, he
received a call from a representative
Of the Old Line Bankers Life Insur-
ance Company Of Nebraska, who cam
vassed him for a contract Of life in
surance. Mr.. Jones informed the
agent Of his desire to buy. the adjoin-
ing quarter section of land, and
thought he could not well invest in
insurance at present.
Upon learning that Jones had been
paying So per acre, or $3.50 per year
rent, the agent, finding Mr.. Jones
age to be thirsy-three, asked him if
he would be willing TO pay about
$3.50 per acre for twenty years should
the landlord give him bond, deciding
him the land at the end of that time
should he live, or to his family should
he die at any time after the first pay
ment had been made, cancelling all
further payments.
Of course, Mr.. Jones said he would
be glad to enter into contract of
that kind. WELL" said the agent,
you buy the land for $4,000. The in
terest on the purchase price at per
cent will be $3.50 per year. Then buy
5000 life insurance of the Old Line
Bankers Life Insurance Company of
Nebraska, which at your age will cost
$3.50 per thousand, per year, making
the total payments for interest and
premiums for twenty years $685. go
per year or s3.46 per acre.
Should you die within that time.
the life insurance policy will cancel
the loan. Should you live twenty
years and never pay a cent on the
principal of your mortgage. the cash
value OF your policy. consisting or
the guaranteed reserve and estimated
surplus. will be se.fOa4i. This win
pay OF the loan and leave si0g.A 10
the good. Now. Mr.. Jones. you pay
only forsy-slx cents per acre. or