Page:American Journal of Sociology Volume 15.djvu/513

 IMPROVEMENTS IN INDUSTRIAL INSURANCE

499

and B. Under Plan A, in the event of death before the first pay- ment of annuity falls due, the total amount which the annuitant has paid in, with 3 per cent, compound interest will be refunded to his or her heirs, while under Plan B, where the same annuity is obtainable for smaller payments, there will be no return to the heirs in the event of death before the annuity becomes due. It

$100 LIFE INSURANCE AND $100 ANNUITY

Insxtsance Continues Dxjmng Whole of Life, but is Free of Premiums after

Age 65, at Which Time Annuity Commences

industrial life and annuity rates

Age

Weekly Premium

Age

Weekly Premium

Age

Weekly Premium

Age

WeeUy Premium

10

II

13

13

14

15

16

17

18

19

ao

$0

08 08 09 09 10 10 II II

12 12

13

21

22

23

24

25

26

27

28

29

30

$0.13 •14 ■IS •15 .16

•17 .18 .19 .20

.21

31

32

ii

34

35

36

37

38

39

40

$0

22

23 24 26 27 29 31

33 35 37

41

42

43

44

45

46

47

48

49

50

$0

40

43 46

49 53 58 63 68

75

82

Under this plan of insurance each policy will be for insurance of $ioo dviring life, premiums ceasing on first anniversary of date of policy after insured reaches age 64, at which time an annuity of $100 will begin; insurance, however, continues thereafter during life, and in addition thereto the annuity is paid annually until death. This annuity may be $ioo, paid at the beginning of each year, or the $ioo may be paid in quarterly instalments of $25 each, as desired by the policy-holder. If at date of death any instalments of the annuity for the current year remain unpaid, the amount of such unpaid instalments will be paid in addition to the insurance of $100.

Of course, if insurance and annuities for larger amounts are desired these premiums may be multiplied by two, three, or four for insurance, combined with annuities of $200, $300, or $400, and so on.

will thus be seen that a larger premium is required under Plan A than under Plan B; for instance, 25 cents a week or $13 a year will secure an annuity of $89.22 beginning at age 65, while under Plan B, the same premium would secure an annuity of $127.18; but in the Dominion scheme no annuity for less than $50 is payable, and a person can deposit weekly sums at stated intervals such as 25 cents a week or irregularly as the means are available, and the amount of annuity payable is determined by