Everybody's Guide to Money Matters: with a description of the various investments chiefly dealt in on the stock exchange, and the mode of dealing therein by William Cotton
page 113 of 144 (78%)
page 113 of 144 (78%)
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the benefit of a wife or children of an insured
person, the trustee being the Insurance Com- pany. The advantage of this is that such a policy does not constitute a part of the husband's estate or become subject to his debts, either whilst living or at his death, so that in the latter event the money is paid to the widow or children direct for their own use. A policy of this kind, if necessity should arise, could also be exchanged for a non-forfeitable policy in the manner before pointed out. _Endowments for Children_. -- A parent, by paying a premium of about £5 5s. annually, can secure to a child aged six a sum of £100, on its attain- ing the age of twenty-one. Should the child die before reaching that age, the money paid in pre- miums is not lost, for it is all returned to the parent without deduction. By this means a marriage portion or outfit for a girl, or a start in business for a boy can be provided to any amount that may be desired. _Insurance on Joint Lives_ is another mode of insurance, very useful in particular cases. For example: a mother aged fifty has an income, for her life and no longer, of £300 a year, and she has a daughter aged twenty, who has no means of her own, present or prospective, being |
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