National Geographic : 1940 Oct
How can a man leave his life insurance money to best fit the particular needs of his beneficiary? Often life insurance money may best be left as a single lump sum. But in many cases, such as Dick Gay's, this kind of settlement raises difficult finan cial problems for the beneficiary. For that reason, Prudential Ordinary policies offer 4 different meth ods of settlement. Q: What are the 4 methods of settlement that The Prudential offers? A: First, the insurance money may be paid in cash in one lump sum, leaving the beneficiary free to use it in any way. Second, a monthly income of a definite amount can be set up for the beneficiary's entire lifetime. Thus, the beneficiary is assured a guaranteed income as long as she lives and is not faced with the problem of handling a large sum. Third, a definite income for a definite period may be arranged. The income may be paid monthly or less frequently, as desired. Fourth, the insurance money may be left with The Prudential at a guaranteed rate of interest, which is paid to the beneficiary each year. Arrangements may be made for withdrawal of The Prudential HOME OFFICE: NEWARK, N. J. the principal sum, as desired. Q: What if the insured does not specify a par ticular method of settlement? A: In such cases, the beneficiary may make the choice at the death of the insured. Q: May any of these 4 methods of settlement be used in combination? A: Yes. For example, here's how Dick Gay and the Prudential man arranged for the life insurance money to be paid if Dick should die tomorrow: First, $2,000 in cash will be paid at once to Mary to take care of immediate expenses. Second, Mary will receive $150 a month until young Jim reaches age 18. Third, at that time, Mary will receive an extra $100 a month during Jim's four college years. And Fourth, the balance will be paid as a monthly income for the rest of Mary's life. This is only one example of how the 4 Optional Methods of Settlement in Prudential Ordinary poli cies help a man plan intelligently for the future. INSURANCE COMPANY OF AMERICA "Mention the Geographic-It identifies you."