Life Insurance And Its Benefits

Cover Life Insurance And Its Benefits
Life Insurance And Its Benefits
Taft, William H. (William Howard), 1857-1930
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(Special Contribution to The Quinquennial Number) HAVE been asked by the Editors of THE SPEC- TATOR to say what I think about life insur- ance, and as I have thought a good deal about it, and, for a man of very moderate means, have invested a good deal in it, I am quite willing to say what I do think about it, and why I favor it as one of the great institutions of modern society.
SECURITY ONE MOTIVE FOR SAVING Two things must be provided for in order to induce men who have made money, or are ma
...king it, to save it. First, they must have confidence that, being saved, it can be kept in a safe place, so that they can have it when they would. This means not merely a condition of law and courts by which they can enforce the right of ownership and recover the money, but a security by which, without anything but the expression of a desire for it, the savings will be forthcoming. The ma- chinery must be evident which will retain the money where the owner can get at it and be sure to have it when he needs it.

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