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 ment policy or policies, payable at the age of sixty or sixty-five.

One argument against the endowment form of policy is the likelihood that the assured, on collecting his policy money, will proceed to dissipate it. If this be really probable it is certainly better to deliver ourselves from temptation by having a whole life policy payable to our executors. But I should have thought that most people who have the sense to insure will be more likely, by the time that they come to the age when the policy matures, to have the sense to take care of the money if it is necessary for them to do so.

An advantage about collecting one's insurance policy oneself is that it saves one from the feeling, which must, I imagine, be unpleasant as one becomes old and a useless consumer, that one's dependents will be better off when one is buried. In the case of a whole life policy-holder this is true. When one is old and helpless, there will be a certain satisfaction in feeling that one is still an earning asset, and this satisfaction one can secure by the acquisition of an annuity which will rather more than cover one's cost of living. This at least wil! give one a material justification for going on living after one has ceased to be an active worker.