National Geographic : 1942 Apr
> - WHAT EVERY MAN SHOULD KNOW ABOUT LIFE INSURANCE <<< How to Leave Your Life Insurance Money TO DO THE MOST FOR YOUR BENEFICIARY MOST POLICIES OF $1,000 OR MORE PROVIDE 4 OPTIONAL PAYMENT PLANS Have you planned to leave your insurance so it will do what you want it to do for your benefi ciary? To make this possible, almost all larger policies give you 4 optional settlement methods. I. Your insurance money may, of course, be paid as a single lump sum, in cash. 2. If the amount is sufficient, it may be paid as a monthly income for your beneficiary's re maining lifetime. 3. It may be paid as an income of a definite amount for a definite length of time. 4. It may be left with the company at interest, payable to your beneficiary each year. With drawal of principal may be arranged as desired. Here are 3 things to remember when you plan a method of settlement: (1) Arrange the plan you would want if you should die tomorrow, con sidering Social Security or other income. (2) Keep it in line with your changing circumstances by reviewing it periodically with your agent. (3) Leave enough in cash to pay last expenses. Case No. 1-Edward Cooke ... a young married man with $3,000 of insurance. Until Mr. Cooke can afford more life insurance, the important thing he wants his present policies to do if he should die is tide his wife over until she can find a job. So he has arranged his life insurance like this: $500 would be paid Mrs. Cooke right away to take care of final expenses and unpaid bills. The remaining $2,500 would be paid as an income of $100 a month for 25 months, plus interest. . PRUDENTIAL INSURANCE COMPANY OF AMERICA Home Office: Newark, New Jersey Case No. 2-Arthur Keenan S. . married and father of a ten year-old boy. Mr. Keenan has $40,000 life insurance. From time to time, he discusses the benefi ciary arrangements in his policies with his agent-to make sure they are up to date. His latest arrangement is as follows: At his death his wife will receive $2,000 immediately to cover final expenses, unpaid bills, and incidentals. She will also receive $150 every month until her son reaches the age of 18. For the next four years, she will get $250 a month, the extra $100 a month being for her son's college education. Then, the bal ance of Mr. Keenan's insurance money will be paid to his wife as an income of approximately $100 every month for the rest of her life. TUNE IN PRUDENTIAL FAMILY HOUR SUNDAY AFTERNOON, CBS NETWORK The world's greatest music-starring lovely Gladys Swarthout, Deems Taylor, Al Good man's orchestra and chorus, and others. "Mention the Geographic-It identifies you."