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INSURANCE AT PINY WOODS.   93

ducted so that everybody makes a fair and honorable profit out of it. That kind is a good thing ; but there's companies with millions of assets that you get nothing out of without paying every cent it's worth, leaving no profit.

Henry \Vigfall's new company will correct all this. In the first place it is his aim to charge only one admission to the Fireside Home. At age 21 so much, at age 22 so much, and so on up to the oldest inhabitant, edging up a l-e-e-t-l-e per age all the time. That is all the policyholder ever pays. At his death the co. pays over the face of the policy to his widow, taking out for itself all the accumulated unpaid premiums. His heirs get net all over what it would have cost hint to pay the premiums yearly. He has never been pestered and harried about paying, and the company, having a cinch on the premiums when he does die, is perfectly secure. All lapses are prevented because a man having paid once is shut of all trouble and goes on being insured until he dies, whether he wants to be or not. It will be asked how will the co. pay death losses without any premiums? Well, that is what the admission fee is for and to keep the company going till the deaths commence. Life insurance experience is that deaths don't begin till a few years after starting. The preliminary deaths will be paid out of the admissions until the average normal death rate is established, and then the averages will take care of themselves. By this system the more deaths the more premiums, and never a dollar lost in collections. No big expensive office force either eating up receipts, but just an honest manager and a young lady typewriter to cipher out the premiums due back by the table and make out net checks. passing the balance to the treasury.

The scheme certainly looks sound and feasable. Cer-


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