Word: payments
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Dates: during 1950-1959
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Straight Life Insurance, the industry's traditional bread-and-butter policy, which provides a lump-sum payment to a policyholder's beneficiaries upon his death-and at a relatively low premium. Another feature is that policyholders can stop paying premiums whenever they choose, get the equity they have put into the policy in cash, or take a reduced paid-up policy. A young man of 23, for example, can buy a $10,000 straight-life policy at a premium cost of about $180 annually. His beneficiaries would get $10,000 when he dies; if he wants to stop...
...Limited Payment Life, a combination of straight and term insurance, which provides lifetime protection but limits payments to 15, 20 or 30 years. Though premiums are high, limited life is best for the man who wants lifetime protection but wants to confine payments to his best earning years. A man of 23 with $10,000 worth of 20-year limited life must pay $320 a year until he reaches the age of 43. Cost of the same policy, if he takes it out at 33: $390 annually...
...Cost of a $10,000 endowment for a man aged 30: about $300 per year for a monthly income of $65 after the age of 65. Since actuarial tables show that men die sooner than women: a woman would only get about $55 a month for the same premium payment...
Pragmatist. In Louisville, when the bank refused payment on his G.I. insurance dividend check made out for $72,000,000,000, Harold Fleischer pondered officials' advice to "frame it or take it up with the Veterans Administration," decided...
...DOWN PAYMENTS on mortgages will drop if Congress approves new plan sent up by Administration. Plan is to boost the amount of cost of house that FHA can insure; e.g., to new maximum of 96% of first $10,000 of appraised value v. current 95% of first $9,000. Effect would be to lower down payment on $10,000 house to $400 from current $700, on $16,000 house to $1,300 from $2,200, on $20,000 house to $2,500 from...