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Ordinarily r am no particular friend of the insurance companies. Who but an insurance salesman would sell you on the fact that on one hand, his company is the fastest growing, safest concern in the country, and on the other hfcnd, a few pennies invested with this concern will give you a fabulous return plus unlimited security. The return generally amounts to % of 1 % and the security, after deducting the fine print exception, is aways enforceable in a court of law. He’s right about the company being sound, thought Almost *11 of them are. The biggest, richest, most acquisitive corporations in the nation are insurance companies. Thiy know finances and-they know how to figure,
- One instance of how smart insurance companies are can be seen in the' matter of premiums. Every insurance company I .know of sends out their bills a full month or more in advance. The insured can either stack away the notice and hope he remembers it on due date, worrying about it in the meantime, or he can take the easy way oUt and pay the bill at once. Most take the easy way out and get rid of the thing. If a company takes in premiums of, say, 36 million dollars a year a month in advance, that is the same as having! 3 million dollars a year interest free. When the company! loans this out at the easy-to-lend rate of 4%, they net $ 120,000.00 per year unearned income, or almost enough to pay one of their .vice-presidents.
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