IMPROVEMENTS IN INDUSTRIAL LIFE INSURANCE 1
CHARLES RICHMOND HENDERSON The University of Chicago
THE PRESENT FORMS OF LIFE INSURANCE FOR WAGE-EARNERS
The "industrial insurance" forms are of chief interest in this article. Industrial insurance in this connection means a system of weekly premium insurance, under which the agent solicits business, writes applications, collects premiums, takes proof of death, and pays claims at the house of the workingman. It is the method most popular in this country with persons of small means, because it fits in with the weekly reception of wages, requires apparently the least sacrifice, does not call the working- man away from his occupation, and offers absolutely safe guaranty that the insurance will be paid in case of death. By taking the published rates of some of the leading companies we can form the best judgment possible of the present situation.
INFANTILE TABLE
Weekly PREMitTM 3 Cents — Premiums Cease at Age 75
Benefit Payable If Policy Has Been in Force for
Age Next Birthday When Policy Is Issued
Less than 6 months
More than 6 months but less than
I year
One year
Two years
Three years
Four years
Five years
Six years
Seven years
Eight years
15 20
24 29
35 42 66 90 114
$ 10
20
24 29
35 42 66 90 III
$ 12
24 29
35 42 66 90 108
$ 14
29 35 42 66 90 105
$ 17
35 42 66 90 102
$21
42 66 90 99
S33
66 90 96
$45
90 93
^ This article is designed to supplement the writer's Industrial Insurance in the United States, chap, vi, and especially articles in American Journal of Sociology in 1907-8. I desire to mention Industrial Life Insurance, Its His- tory, Statistics, and Plans, published by the Spectator Company, New York. The Metropolitan Life Insurance Company and the Prudential Company have furnished new materials.
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