The Powder River County examiner and the Broadus independent. [volume] (Broadus, Mont.) 1919-1935, 1922-01-20

88<A1D0 = 3
WITH INSURANCE. LEAD TO NEW
AND BETTHR CONDITIONS.
BY w. Il ALEXANDER.
Secretary Equitable Life insurance
Society.
Editor Note.-A new note fer the
average man In struck in the follow.
tEg article by w. Il. Alexander, Sec
rotary Of one of the worlds greatest
Insurance compan ies. the Equitable
Life Assurance company. The mere
fact Of his official position with the
company inSures his familiarity with
hs subject. In addition he shows that
insurance Is not merely q force whose
direct benefits to its immediate policy
holders is its sole title to life and
growth.
Life insurance Is now exerting an in
fjuence Of far reaching Importance in
the development of our nation. While
the services It IL thus rendering are Of
enormous value, they attract little at
t. ntion because they cover. SO jtc speak,
only the by.products Of life insurance.
Let me explain.
The chief provinces Of life insurance
il to protect the individual against the
financial injuries that followi the
train of death. New, is 1t conceivable
that any Of the by-products referred
to here can be as useful as this? Let
Us see.
One Of these by-products lis the
value Of life insurance in teaching
thrift to individuals. thus strengthen
ing the nation composed of these in
dividuals.
If it be true that life insurance is
| the best OF all teachers and promoters
Of thrift--and it is--then the extraor-
binary Importance Of this by-product
will be obvious: for everyone knows
| that most Of the ordinary schemes for
the promotion Of thrift are ineffective
| and disappointing.
| Money laid aside or investment in
ordinary ways usually lies idle. or Is
spent to relieve temporary embarrass-
ment, or Is sunk in business ventures
Multitudes Of people with praises
worthy motives start savings bank
ing deposits. Or. II deposits are made
and some pinch comes, the money ia
withdrawn and spent.
| But the man who, agrees to deposit
u specific sum periodically with a life
1
tract under which these deposits be-
come obligatory. And although he is
free to stop making them he cannot do
sc without sacrifices and without break
ing his agreement. Consequently a
pressure is exerted which strengthens
his purpose and aids him in full filing
the obligation ne has voluntarily as
lsumed.
In addition to this. he IL taught sys-
Itematic habits Of saving. His payments
fall due at regular intervals. When
ever he is forgetful or dilatory he is
reminded Of his obligation and aided
lin meeting it. There fs no other method
of saving. moreover. that il as con-
venient and easily carried out.
1t must be noted also that the small
savings of innumerable individuals
few In tiny rills into the great I'm
VIC stment reservoirs Of the insurance
companies. Thus, funds which would
otherwise be wasted or lie idle are
used to develop the industries of this
nation. Malicious people have some
times asserted that the companies
hoard the money received from theil
! polio yhol ders. The reverse Of this ]!
true. The companies are paying every
year in death claims. matured endow
ments. dividends and other benefits
quite as much money as they are TAX
ing in. In addition to this they arr
constantly investing their funds in thu
different states. ande are thus aidins
in the development Of the industries o
4 1.-The country. Note what Lawrence +
/, Abbott Of the outlook has said in thi
connections:
sThe American public does net We
7 In
| sulanc companies have done in tn
t way of enabling the individual citize
g Ito save his money and to put it t
I useful work. not only in promoting hi
t own prosperity but also in developing
/. the resources and the general welfar
: of the country. What ar
8 these gigantic assets doing: They ar
building railroads, erecting mills an
d factories clearing land, cultivatin
i farms, and furnishing much of the fr
g drstrial power and energy which ha
d made the people of the United State
e the greatest nation in the world"
nj Note also what Mr.. Abbott has sal
le about the value of life insurance as
e teacher Of thrift to- the Individual:
j. "Take Il young man Of twenty, WI
s, is starting out in his business caree
IF I can argue with him to open say
l. ings account until both he and I al
at black in the face, but without mut
l. success. Suppose I do prevail upC
Or hnn and he makes the start Mi
It. times out of ten his regular deposi
10 fall into innocuous desuetude" Final
I'd he draws out his balance to meet son
Id ---------
IN thousand feet Of lumber coming In
n the city was well under 50. Toda
IT. oc,,,