Bulletin of the Division of Military and Naval Insurance

Bulletin of the Division of Military and Naval Insurance

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1917 edition. Excerpt: ...chip in, each of them taking out $1,000 worth of insurance, the eight who died would have to get $8,000 from the 1,000 men. That would mean that each man would have to pay $8, and that would n, ring the $8,000. The fellows that die would get their $1,000 apiece, the eight of them, and those that live would have nothing at the end of the year. The next year they would begin over again. Now those men are 30 years of age, anil, instead of eight dying, the percentage would be, we will say, eight and one-quarter, and for that reason they would have to pay $8.25 apiece to make up the amount; and so, of course, as they grow older the chances of dying are greater. The number that would die each year is greater; and therefore, paying in the amount that each would have to contribute to make up the death losses that are expected, the expense or premium would grow heavier and heavier as they grew7 older. Most of you would be surprised at the proportion of men who live to a real old age; the United States Life Tables, 1910, show that 40 per cent of men 20 years of age live to 70. Those are the figures that are given in the United States tables. Infant mortality is very high. A large percentage die the first five years; a fair percentage the first 10 years; a very small percentage the next 10 or '20 years; then the percentage goes up higher, and yet at the end of 70 years 31 per cent of males born survive; this equals 40 per cent of those who reach the age of 20. Then they begin to die off quickly. And so when you come to real old age, the cost of term insurance becomes tremendous and is a terrible burden. Now, it is very unwise for men to take out insurance that costs them a very few cents when they are young but an excessively burdensome amount Avhen they are...
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Product details

  • Paperback | 38 pages
  • 189 x 246 x 2mm | 86g
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 1236523482
  • 9781236523488