Durango semi-weekly herald., 1905-12-04
GOVERNMENT LIFE INSURANCE

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How far It is possible or desirable
for the national government to exer
else authority in the business of life
insurance Is question for the future
The issue has been forced into public
attention by abuses where they were
least expected. and that is in the man.
agement of the largest and most pros
porous companies in the country
These companies have not failed to
pay their direct maturing obligation
but the incidental profits in which
policy holders We're promised a share
and on which they have an unoues-
tionable claim, have not been legiti-
mately handled. Salary lists have
been extravagant and padded for pri.
vate benefit But for these misappIi.
cations the cost of frst-class life in
surance In the United States would be
considerably lower. and its general
practical advantages greater. II is
needless to dwell on the merits of life
insurance as a system. They are ad-
mitted everywhere. How far shall
the national government take an ac-
i've or supervisory part in life insur-
ance? The subject has reached the
United States and will be extensively
discussed.
IL s-not new question in some
OF the countries of Europe. Govern.
ment life insurance has existed in
Belgium for fifty years, and IL Is in
that small, paternal nation that it is
most intimately part of the oppor
tuhlties OF citizens. To every Belgian
is open life annuity. straight life and
endowment Insurance on plans that
oHer the best returns for small say.
ihgs invested for any of these pur.
poses. Payments for annuities. which
can not be seized for debt can he
made at ali Belgian postoffices. M.
tional bank agencies and branches of
savings banks. The largest annuity
paid on such deposits is s23l.6O per
year, and the smallest Is franc, They
DO not begin until the age of SO is
reached. For deposit of s193 at the
age of rs the annuity after so would
be 1880; at 60, 1910 and at g.
sl4s.sO. Endowments are payable a,
the end OF from ten to 25 years. A
person OF 35 can leave to his heirs
for a premium of 1880 year. the
sum or 1856. il contracted to pay unit
80; and. for the same annual paymen,
The endowment at So would be s41s
The largest sum paid on a policy is
$1,000. On all this business the Bel
gian government retains but a nomin
al profit.
survey of life insurance in Belsi-
um would be incomplete without not
ing Its close relationship to the postal
savings system. Every postoffice and
national bank agency in the country
receives deposits in sums as low as
20 cents. Credits are made with ad.
hesive stamps anywhere In the king.
dom. Once a year the interest is
compounded. At the end of 1903 the
Belgian savings deposits thus accu-
mulated amounted to nearly S46,OOO.-
900, a percapita of 81. Thrift Is uni
versal in Belgium and beggars are
few. Life insurance In the United
states deals with much larger sums,
and has not been conducted with ref
erence to minute savings, but II the
government enters the field 1t will un-
doubtedly look after policy holdings
on the smallest scale, as well as re-
quire honest management with full
publicity in all branches of the bust
ness, which is now and must remain,
one of the best safeguards of the
home and the family.-Globe-D
frat