Synopses & Reviews
Excerpt from Life Insurance for Professors, Vol. 4
Thus we see that when we consider only the probabilities of the two cases a larger provision for life insurance than for old age appears desirable. When to these considerations we add that. The needs of a family which is suddenly deprived of support are extremely urgent, and that there is no other way to provide for them than by life insurance; but that, on the other hand, the provision which must be made for old age is for a remote con tingency, for which a man has the whole period of his working years to prepare, it is reasonable to regard the duty of insurance as far more pressing than the duty of provision for old age. At the least, we may conclude that the young man at the beginning of his career is extremely negligent if he fail to provide life in surance which will be adequate to the needs of his family in the event of his early death; but that he may quite properly delay for a while the beginning of the accumulation of a reserve for his own old age, with the expectation of being able to provide for it from the increasing resources of his maturity.
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