NEW WAY OF INSURING.

New Zealand Graphic, Volume XVII, Issue XI, 12 September 1896, Page 343

NEW WAY OF INSURING.

Sacramento Record-Union : They have a new aud very novel scheme of life insurance in France that is attracting much attention and that it is proposed to copy in the United States. Clubs of wage-earners are formed under the title *La Fourmie' (The Ant) Into these clubs the members pay a stated sum monthly as may be agreed upon, and a gross amount from this common fund is paid to the family of a deceased member. But this payment is dependent upon age at the time of death, and decreases in amount the longer one lives. Thus, if a beneficiary dies before the age of 38 his heirs receive SI 000 ; if he dies after he is 38 and before he is 40 the heirs receive but $9OO. and so on until if he lives to the age of 50 his heirs can draw bnt $5OO. The theory of this novel tontine is that the earlier a man dies the more dependent is his family, while if he lives to a fairly old age his children have grown up and are able to care for themselves, and he has made provision for his wife and himself. Under the new plan it is held that there is secured a more immediate benefit and a larger one than under any other scheme.