344 Our Farming. 



finest talkers here, a man who said he had talked not a few of the 

 great men of the country into putting vast sums of money into 

 life insurance as an investment. He came and talked and talked, 

 made black white, and everything else. Very strong inducements 

 were held out to me to take out a large policy. Not that they 

 cared for my little money, but for my influence. I pitied the man. 

 He had been sent a long distance for a special purpose, and he 

 did work hard, but he failed. 



In life as in fire insurance, the large stock companies are the 

 safest. An unusual death rate in a small mutual company makes 

 trouble, as many will drop out. In a very large company, the 

 death-rate can be calculated on almost to a certainty. These 

 great companies are growing very wealthy, but this makes them 

 all the safer. The little they get out of one individual over actual 

 cost of insurance is not much. Their money is mostly made by 

 doing a very large business. Should their rates become excessive, 

 competition will bring them down. 



But now we will suppose our young farmer has got his farm 

 all paid for and well improved, with good buildings and plenty of 

 tools and fine stock, and, perhaps, a little money ahead is what 

 we call well fixed, like lots of you. Shall he still keep up his life 

 insurance ? Here is where the insurance companies do not like 

 my preaching or practice. I say it is not so important whether 

 he does or not. The really important time to reap the benefit of 

 life insurance has passed with him. He may keep it up as an 

 investment for the good of his family or heirs, if he chooses. For 

 my own part, I believe I can do better. When I got insurance it 

 was the cheapest form, simply temporary security, nothing more; 

 no participation in profits or anything of that kind. It cost me 

 about $10 a $1,000 a year. This I could drop any time, and end 

 the matter. I was not after an investment. This is the way I do 

 now : Instead of paying my money for life insurance, I take a 

 few hundred dollars each year (and have for some time), what I 

 can spare readily from the gain to my working capital during the 

 year past, and without scrimping my family, and deposit in one 

 of the safest savings banks in the country. The book is made to 

 Theodore B. Terry and Eleanor M. Terry, his wife, and bears 

 this indorsement across its face : ' ' Either can draw a part or the 

 whole. In the case of the death of either party the balance 

 belongs to the survivor." Now, in the case of my sudden death, 

 my wife can instantly draw any money needed. She doesn't have 

 to wait sixty or ninety days on an insurance company. And in 

 case we need the money before the death of either party, we can 

 get it instantly, all of it or part, with a small, but sure, interest. 

 There is no speculation about this ; it is straight business. 

 Should I die soon, my estate would be better off if the money- 

 had been put in life insurance ; but I am not anxious to have it 

 thus. I am not living, I hope, to see how much I can leave 



