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Dear Editor:
Mr. B. C. B. Jr. makes a very interesting case about the advantages,: especially in a period of recession, of everyone getting paid » a month in advance for goods supplied or services performed. He states that this is the rule followed by many in the payment of m■» gu ranee premiums with resulting —■ substantial benefits to -the insurance companies. Actually, so- far as most, if not all life insurance companies are concerned, the policy holder, instead of paying has premium before the due date; can if he wishes, re-; tain the use of his money and wait as long as 30 Bays after the due date before paying, or the so-called grace period. f , The fact is that it is not the company, but the agent, 'that gets . the benefit from the advance payment of an insurance premium. There is reason to believe that he <ttcrt only can hold premiums, paid t» him ahead of the due date, for the 30 day grace period after the due date but can also retain such • premium collections for an additional 30 days, or 60 days after die due date/with.the policies ranain~ ing in full force. >
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