Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1921-01-28
THE PRIMARY PURPOSE
. OF LIFE INSURANCE
Its Stabilizing Influence Upon Nation.
Manifested Through Individual,
Family and Business.


tensified civilization, has become ex-
tremely valuable, and life insurance
is universally admitted as one of the
best means of protecting the interests
dependent upon the life Of the indi-
vidual. The object of life insurance
is the protection Of families and de-
pendents, or of business interests,
from the pecuniary loss which is
liable to result from the death or
permanent total disability of the
party insured. Life insurance is said
to provide fund by means Of a Sc
ries OF limited payments which be-
comes available at death or possibly
when the insured becomes totally
and permanently disabled. The in
sured is able. by making a number Of
small payments year by year, extend
ing over long period, to provide
much larger fixed amount at death.
1t would be utterly impossible for
man Of limited means to arrange, say,
for the payment Of $4,000 at his
death in any other way. II is a prac-
tical application Of the we'll known
admonition to bear We one anothers
burdens" 1t is found by experience
that IL sufficiently large group pay
into the common Golfer series OF
small payments based on sound &C.
tural calculations, that the fund thus
provided will pay the capital sum
upon the death of each contributor
and eventually provide sum sufil-
cient to take care OF all.
Two Big Objects.
AS the primary purpose OF life In
surance Is protection for the insured's
family or other dependents, for his
business, and for his own old age,
the companies have consistently kept
two objects constantly in view:
% The adaptation Of the policy in
amount and in the manner Of pre-
MUM payments the insured's conven-
fence and ability to pay. AS a re-
suit policies are acailable bearing
amounts from a few dollars up to
hundreds of thousands, and even mil
lions, and premium payments may be
made weekly. monthly, quarterly,
semi-annually. annually, or in one
sum, according to the requirements
Of the policy.
ca The payment Of the proceeds
Of the policy in such manner as to
most fully continue the protection
which the insured gave to his depend
ents during his own lifetime.
All companies now provide for the
payment OF the policy in one sum or
In installments-monthly, quarterly.
semi-annually, annually, and for
fixed period Of years, or for the life
OF the beneficiary. The elasticity of
policy contracts because of these two
features, to which might be added
third feature, or provision for per-
manent and total disability, greatly
enhances the stabilizing value of life
insurance. Moreover, there are but
few people nowadays. regardless of
standard who cannot get some kind
of life insurance to cover their need
for protection.
Influence of Family.
Life insurance is also stabilizing
influence upon the family. During
the life of the insured 1t promotes a
feeling Of security and contentment
and after the death Of the insured it
guarantees the independence of the
beneficiaries, their proper education.
and preserves the integrity of the
family.
From a moral standpoint the in
fluence is good, the home is preserved
and the children are reared with
proper surroundings. rather than
forced to earn livelihood and to
find shelter under conditions which
would be detrimental. 1t so often
happens that those who do not have
suitable home environment ultimate
" degenerate into life Of crime or
uselessness.
From an educational standpoint.
the home being preserved. the chill
dren are able to receive the necessary
education, thereby preparing them
for the lives Of useful citizens. Even
in cases where the head Of the fam
lily is not taken away. through the
medium of life insurance funds are
created to provide for the college ed
ucation of the children, or for vo'
cational training.
Above ALL life insurance creates
feeling Of security and confidence to
be able to meet whatever the future
has in store, which relieves the indi-
vidual of a great deal Of worry and
makes him more capable in the per-
formance of his life work, and thus
promotes longevity.
Stabilizing Business.
Life insurance also has STABILIZE
ing influence upon business. Through