IMAGE EVALUATION TEST TARGET (MT-3) // ^ I 1.0 V^ 1^ itt I3i2 i2.2 £ 1^ 12.0 I.I mmm^ ■§■!■ ^ lU 11.6 |][|ilk^l» ;\ i\ ^Sdraices Corporatoi 29 WBT MAM STRIIT VnMTni,N.V. 14StO ( 71* ) 173-4503 CIHM/ICMH Microfiche Series. CIHM/ICMH Collection de microfiches. Canadian Institute for Historical Microreproductions/lnstitut Canadian de microraproductions historiquas Technical and Bibliographic Notaa/Notaa tachniquaa at bibliographiquaa Tha Inatituta haa anamptad to obtain tha baat original copy availabia for filming. Faaturaa of thia copy which may ba bibliographically uniqua, which may altar any of tha imagaa in tha raproduction, or which may significantly changa tha usual mathod of filming, ara ehackad balow. □ Colourad covers/ Couvartura da coulaur rn Ccvars damaged/ D Couverture endommagie Covers restored and/or laminated/ Couverture restaur^ at/ou palliculAe rn Cover title missing/ D D Le titre de couverture manque Coloured maps/ Cartea giographiquaa en couleur Coloured ink (i.e. other than blue or black)/ Encre de couleur (i.e. autre que bleue ou noire) rn Coloured plataa and/or illuatrationa/ D D D L'Institut a microfilm* le meilleur exemplaire qu'H lui a iti possible de se procurer. Les details de cet exemplaire qui sont peut-dtre uniquea du point de vue bibliographique, qui peuvent modifier une image reproduite. ou qui peuvent axiger una modification dans la mAthoda normale de filmaga sont indiquAs ci-dessous. Tlw toti r~~*| Coloured pagaa/ Pagea de couleur Pagaa damaged/ Pages endommagias Pages restored and/oi Pages restaurtes at/ou pelliculAes ^■ges discoloured, stained or foxe« i*ages dicolories. tacheties ou piqutos r~~| Pagea damaged/ r~~l Pages restored and/or laminated/ |~~V^B9*s discoloured, stained or foxed/ TiM post OftI film Ori| beg tiM •ion OtiM firsi •ion or II D Planchea at/ou illuatrationa en couleur Bound with other material/ ReliA avec d'autrea documanta Tight binding may eauaa shadows or distortion along interior margin/ Lareliure serrie peut causer de I'ombre ou de la distorsion lo iong do la morgo int*riouro Blank leaves added during restoration may appear within the text. Whenever poaaibla. theae have been omitted from filming/ II se peut que certainee pagea blanchea ajoutiaa lore d'uno reatauration apparaissant dana lo toxta, maia. lorsqua eeia itait poaaibla. eas pagaa n'ont paa «ti fiimAas. r^ Additional commonta:/ L_l Commantairea supplAmantairas: [Printed ephemera] 1 sheet, [4] p. This item is filmed st the reduction rstio cheeked below/ Ce document est film* au taux da rMuetion indiqui ci-daaaoua. 10X 14X laX 22X □ Pages detached/ Pages ditachies r~~L/Showthrough/ Li^ Transparence rn Quality of print varies/ Quaiiti inigale de I'impression Includes supplementary material/ Comprend du metiriei suppl^mentaira Only edition available/ Seule Mition disponible Psges wholly or partially obscured by errata slips, tissues, etc.. have been refiimed to ensure the best possible image/ Lea pagea totalement ou pertiellement obscurcies par un feuiliet d'errata. une pelure, etc.. ont M filmies * nouveau da fapon i obtenir la meilleure image possible. 26X 30X C 7 12X 1SX 20X 24X 28X 32X The shal TIN whi Mai diffi •ntl bog righ roqi mol liis du difier jn« ata •iura. 1 I2X The copy filmad har* has b««n r«produc«d thanks to th* o«n«rosity of: Mtotrapolitan Tmonto UlNrary Uniaoian nmory iMpwimMn The imaoM appearing hara ara tha baat quality posalbia conaidaring tha condition and legibility' of tha original copy and In keeping with the filming contract specif lcat!ana. Original copies In printed paper covera are filmed beginning wKh the front cover and ending on the laat page with a printed or Illustrated imprea- slon, or tha back cover when appropriate. All other original coplea ara filmed beginning on the firat page with a printed or llluatrated Imprea- slon, and ending on the last page with a printed or llluatrated Impresston. The last recorded frame on each microfiche shall contain the symbol — ► (meaning "CON- TINUED"), or the symbol V (meaning "END"), whichever applies. Meps, plates, charta, etc., may b» filmed at different reduction ratios. Those too large to be entirely included in one exposure are filmed beginning In the upper left hand corner, left to right and top to bottom, aa many framea aa required. The following diagrams illuatrata the method: 1 2 3 L'exemplaira film4 f ut reprodult griee A la gAnAroah* da: MatropoHtan Toranlo Library CaiMtflan HirtiMV DanMtnwiit Lee images suhrantes ont AtA raprodultes avae la plua grand soin, compta tenu de la comlltton at da ie nettetA de l'exemplaira filmi, at en conformitA avac lea conditions du eontrat da fllmaga. Lea exemplaires origlnaux dont la couverture en papier eat ImprimAa sent fllmAs en commen^nt par la premier plat at an terminant aoit par la darnlAre page qui comporte une empreinte dimpreaslon ou d'iliustratlon, solt par la aacond plat, salon ie caa. Tous lea autrea axemplalrae origlnaux sent fllmAs an commandant par la premiAre page qui comporte une empralnte d'impreaaion ou d'llluatration at en tMrmlnant par la darnlAre page qui comporte une telle empreinte. Un des symbolee suhrants apparaltra sur la darnlAre image de cheque microfiche, selon Ie cas: la symbola — »> signif Ie "A 8UIVRE", Ie symbols ▼ signlfle "FIN". Les cartes, plenches, tableeux, etc., peuvent Atre filmAa A des taux de rAduction diff Arents. Lorsque ki document est trop grend pour Atre reprodult en un seul cliehA, II est fHmA A partir da Tangle supArieur gauche, de gauche A drolte, et de haut en baa, en prenant la nombra d'imagea nAcaasairj. Lea diagrammea suhMints illustrent la mAthode. 1 2 3 4 5 6 Form 203-aM-8-9a. iiFE mw •(^h' From the Insurance and Finance Chronicle, April 15, 1891. T is no uncommon thing for individuals, when approached on the subject of life assurance, ^ to object to the outlay required by saying that they can invest their money to better f^^ advantage than a life assurance company can ^jl^ do it for them ; and a common form of argu- , A J ment employed is that the amount of the ^ required premium regularly deposited in a savings bank will yield better returns, besides being immediately available when required by an emergency. These people look only upon the surface of things, and jump at conclusions, without an adequate knowledge of a few simple but very important facts. The very material fact is overlooked, that while one is earning money to put into the bank, the chances of life are very uncertain, and if the adverse chance happens, the earning ability, and with it protection to the family, absolutely ceases. How great these chances are may be seen when it is stated that, according to the established mortality tables, dealing with selected lives, the chances that a man at age 35 will die within ten years are 9.5 in every hundred, and that the number mathematically sure to to die at that age is 9. 2 in every thousand, the probabili- ties of course increasing with every year of added age. The life policy steps in to assure against this uncertain tenure of life, so far as the individual is concerned, by providing for the family when the provident life has ceased. All the savings bank can do is to take care of the depositor's money, if he saves it^ and pay it back with interest when he calls for it ; it provides for no contingency, and furnishes no protection beyond the amount actually put in and accumulated. In order to show clearly the immeasurable advantage of life assur- ance as a protection, we have prepared the following tabular statement of a policy for $4,865, issued at age 35 on the continued life plan, without profits, annual premium $100, and as compared with the same amount annually deposited in a savings bank and compounded at a 4 per cent, interest : One dying HIS HEIRS WOULD receive: Chances in loo at age of— From From of dying within Savingfs Bank. Insurance Co. 15 years. 35 $ 100.00 $4,866.24 14.69 36 104.00 4,866.24 15 10 37 212.20 4,866.24 15.57 38 324.70 4,866.24 16.10 39 441.60 4,866.24 16.68 40 563.30 4,866.24 17-34 41 689.80 4,866.24 18.07 42 821.40 4,866.24 18.89 43 958 30 4,866.24 19.80 44 1,100.60 4,866.24 20.80 45 1,248.60 4,866.24 21.92 46 1,402.60 4,866.24 22.14 47 1,562.70 4,866. 2A ^4.49 48 1,729.20 4,866.24 as.96 49 1,902.40 4,866.24 27.58 50 2,082 . 50 4,866.24 29.32 55 3,096.90 4,866.24 40.26 60 4.33' 20 4,866.24 54.70 63 4,896.80 4,866.24 57.60 It will be observed that while the heirs of the man who is assured would receive $4)866. 24 in case of death at any time from the day his policy takes effect, the savings bank investment requires about 27 years before the proceeds will equal the assurance, provided he pays in his $100 during every year, together with accrued interest at the rate named, 4 per cent., though, as a mat- ter of fact, many savings banks pay only 3^ per cent. The chances of dying, it will be observed, are more than fifty in a hundred before age 60 is reached, and even if both men live up to the full limit of their ex- pectancy, or about 31 years, reaching age 66, the assured will have received only $1,304 less than the savings bank yields. In other words, this amount distributed over the 31 years represents $42.09 annually on his entire policy, or $8.65 per $1,000 assured, as the total annual cost of his protection, payable as promptly in the first as in the thirty-first year in. case of death. In like manner, it can be show that as a protection combined with invest- ment, under a 20-year endowment, the $100 annually would purchase a policy for $2,485, without profits, pay- able at death at any time until the 20th year, when it becomes realized cash in hand : while it would take over 17 years, if the man lived and kept up his $100 de- posits annually before the accumulation would equal the $2,485. It is obvious that the savings bank depositor must fulfill three conditions, each involving great un- certainty, viz.: — he must continue to live for 17 years, though the chances before he reaches that age become nearly 40 in a 100 against him ; he must continue to earn the surplus $100 ; and he must continue to deposit it, together with interest, without fail every year. On the other hand, if the assured man dies the first or the tenth, or any other year, his adverse chance of life thus realized is turned into a certainty of beneficient pro- vision for his family, and, living, if he should become unable to earn and to pay his $ioo premium, he has acquired a proprietary value in his policy, which, ap- plied to its extension or to a paid-up proportion, still gives him protection. The comparison of life assurance with savings bank investment is a manifest absurdity* for the latter depends on the ralization of elusive un- certainties, while the former is based upon guaranteed certainties. S^OXl XjXXf*S] JLSST7£%.^lSrOS3 — APPLY TO — THE FEDERAL LIFE ASSURANCE GOT. HEAD OPPICKi HAMILTON, ONTARIO,