Fraternity-Testvériség, 1959 (37. évfolyam, 1-12. szám)
1959-12-01 / 12. szám
ti FRATERNITY How long will it take him to accumulate $10,000 by putting $20 a month into mutual funds? Years and years. What if he dies in the meanwhile? His young family will get only róhat the $20 a month has accumulated to by that time. If he had life insurance, his family would get the full $10,000 regardless of how little time his $20 a month has had to accumulate. What if he lives to 05? He may have more in mutual funds (if he has kept up a steady $20 a month despite all temptation), but there is no GUARANTEE he will have more. In other words, he is simply gambling on his mutual fund account paying off more than the GUARANTEED amount of money life insurance would pay. Let's ask this question: Has any man with a young family a moral right to gamble on what might happen TO HIS FAMILY in the hope of having more FOR HIMSELF at 65 — or at any given age? Ideas of morals and ethics vary among people; but in our code, first things come first, and the security of a dependent family comes before comfort in old age. SHOULD WE BUY TERM? Someone is bound, to say at this point: “If you stress family security so completely over old age. then you should buy Term insurance, which would give your family the most protection per premium dollar The answer is that it would give them the most DOLLAR protection but not the greatest security. Only long Term insurance policies have any cash value at all, and in them, the value rises and then declines. Without cash values, you are exposed to the possibility of losing all the protection you have for your family in an emergency when you do not have the money to meet the premiums. For the family itself, there may be more dollar protection in Term insurance, but there is less security than in a permanent policy form. No. Frankly, we don't consider life insurance an investment at all. To us, it’s so far superior to an investment that to date, every dime we can spare — and some that at times we couldn't spare — goes right into life insurance. Oct. 29, 1959 THE INSURANCE SALESMAN
