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 have been paid for. This duty is so obvious that even the Revenue authorities encourage us to perform it, by remitting income tax, within limits, on sums invested in this form of thrift.

Insurance policies are infinite in variety, and it is no part of the purpose of this book to examine their varieties in detail. Their broad divisions are into:—

A with-profit policy carries the right to share in the surplus shown by the company after providing for claims. The share received by the assured is usually called a bonus, and may be taken in the form of a reduction of future premiums, or of an addition to the sum payable when the policy becomes a claim, by death or maturity. One can have a with-profit or a non-profit endowment policy and likewise with whole life.

The advantages of these different kinds of policy have strong advocates. It seems to me that a man who lives by his work and has to face the possibility of a "Saturday afternoon" to his life in which he will be inclined, and probably obliged, to live without working, is well advised to choose the form of an endow-