Evening journal., 1916-02-02


tency through tedious saving.
The speakers chief emphasis, how
ever, was placed upon life insurance
as a means OF capitalizing the value
OF a life. Life Insurance" he stated,
has been advocated for years as a
necessity OF life and religion to be
preached and taught on every possi-
bic occasion. Those engaged in the
life insurance business have been the
prime movers in such education. Yet
despite all that has been done, 10 re-
mains fact that the average wage
earning class has not been reached
except as far as burial and fraternal
insurance Is concerned While the
present agency system has been very
successful In reaching the middle
wealthy and well-to-do classes. it has
not succeeded in spreading the benef-
ieent influences OF life insurance 20
The thirty-fye million wage-earners
and principally for the reason that
said wage-earners are not m a posi-
lion today TO pay for protection. II is
estimated that not more than ten per
cent. of the value Of human lives in
this country has been capitalized
through life insurance, and yet such
capitalization is the fundamental
basis Of the institution. Various in
vestigations have been made which
tend 10 show that. assuming. say, sew
eral hundred representative families
only about one-fourth carry as much
life insurance as $500. Il also ap-
pears that about one-fourth OF this
number Of families actually run be-
hind in their family budgets, and that
only One-half are just able to make
ends meet. not to say anything about
saving or protection. In fact. the sit
uation at present is such that the
present level of wages does not take
life insurance into account as an item
in the family budget. thus making
protection against premature death
an actual burden TO those workers
who are obliged to sacrifice a part OF
their wages for premiums.
wage earners." the speaker con-
tinued, "are subject TO five great
risks, namely, unemployment. sick
ness. accident. premature death. and
dependent old age. All OF these risks
/ il was stated, could and within tn,
comparatively near future. would b'
solved through insurance. the presen
/ Compensation Acts and propose,
health insurance bills being indica
tive Of the widespread movement II
this direction. Mr.. Huebner express
cd the strong belief that the commun
ity OF wage earners will be greatl
benefited by the requirement OF
minimum amount Of insurance lsa
$4,000 for all workers who have as
sumed family responsibility. or VIII
have dependents. His plan is TO re
quire this minimum along the SAM
lines provided for under presen
compensation acts.
"The insurance may be taken ou
In any insurance company licensed t
do business in the state. or may b.
purchased in a State Fund. More
over, II satisfactory property can b.
shown. the same may he accepted a.
self-insurance fund. similar to tn
method used i'm Pennsylvania, New
York etc.. In connection with thei
compensation acts. The insuranc
should contain a total disability fea
ture. should provide for the install
ment or income payment plan a
well as the continuous payment fea
I turo. and the policies should, wher
possible. be made TO mature for thei
4 face value at some reasonable age
like 65 or 20. thus providing a fun
for old ace dependency.
1T is TO he remembered that ou
compensation acts. concernini
which so much has been said an
written. constitute very small fac
tor in protecting worlSmen agains
, risk. These acts do not proteC
D against accidents occurring outside {
! industrial pursuits, although thes
, comprise nearly one-half OF the tot'
q accidents: secondly. they do not cove
2 occupational diseases. much more in
. portant in the aggregate than acc
} dents in business; and thirdly. the
a do not refer 20 premature death froi
h natural causes outside of the indus
a try. a factor many times greater tina
Q the preceding two combined. In fac
o il has been demonstrated that the 10.
I in wages due 10 illness alor
I amounts annually 20 about $500. .0OO
G 600, or a sum between three and foi
times as large as the total FIRE was
of the United States. The loss
value (human liyesl through prem
: ture death may be easily comput,
when we realize that there are abo
S5.00O.000 wage-earners in the Unit
States. and apply TO this figure q
number OF deaths shown by the Anne
Iican Experience Table. These fgur
will demonstrate that our prese
| compensation acts are mere 'dr'
, ( in the bucket and that life insu
7 ance up 10 the present is not fulfilliI
its great purpose so far as the wag
oarners OF the country are concerne
, The billions OF life insurance
} which so much reference is mad
and which has been built up thrOui
the efforts OF life insurance agent
relate principally TO the middle. wei
to-do and wealthy classes. Compu
sion alone will extend the preset
system OF life insurance TO those WI
do not fall within the above-mentio
red classes.
| The compulsory idea should r
! ceive the hearty approval OF all Ii
insurance statesmen. as well as con
{ panios. Through this support lii
: insurance men will be consistent
/. their present endeavors to spread a
o benehcent influences OF the institl
Il tion as widely as possible There
no other way than compulsion 10 a
h complish the purpose. The fact
s. that We arc confronted by cond