Word: premium
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Dates: during 1920-1929
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...York Life Insurance Company is sending out today between 250 and 400 bills to the men who have subscribed to the Senior Class Fund. These bills are for the initial premium payment on their policies, and there is a month of grace before they must be paid...
Special rates to any man who wants to pay the entire premium on his endowment insurance were announced yesterday by the Senior Class Treasurer. By this arrangement with the New York Life Insurance Company the cost of a policy is cut in half...
...special 25-year endowment policies of $250 or more. The ownership is to be assigned to the class treasurer, thus making the class the sole beneficiary in death and disability settlements as well as in dividend earnings. The insured will pay the New York Life Insurance Company the annual premium of $10.10 for the 25 years. In 1949 the face value of each policy then in force will be paid to the class treasurer, plus $95.93 in dividends, making $345.93 in all. The experiment has been tried in other colleges and has been very successful...
...even does the University a service by dying as Quickly as possible, since the whole sum begins to draw interest sooner in such a case; and moreover, he saves money himself. The Class Committee, has of course, no intention of urging men to die immediately after paying their first premium, but it can be readily seen that from a financial point of view this would be a most happy and fortuitious proceeding...
This is what the new plan tries, in fact, to do. It is meant to obviate the parrot-like acquisition of facts and the repetition of them upon a blue-book. It places a premium on individual thought, and on a more general reading. It gives the advantage to the man who knows where a large mass of information can be found easily, rather than to the man who has practically memorized a smaller mass...