Life Insurance Eliminates Worry and Increases Initiative
Writers have frequently asserted that life insurance is not to be regarded
as a producer of wealth but that its function is merely to distribute funds
from the fortunate to the unfortunate. In reality, however, life insurance
will be found to be a powerful indirect force in the production of wealth
in that it relieves the policyholder of worry and increases his efficiency.
Constant worry is one of the greatest curses that can fall to the lot of
man, and life insurance, if universally used, would lift that curse from
innumerable shoulders. The knowledge of an assured estate from the moment
the premium is paid will enable the insured to feel freer to take the initiative.
Let us assume that the head of a family is the possessor of $10,000 and
is afforded an excellent opportunity for the investment of this capital
in a business pursuit. If it were not for life insurance the owner of this
capital could not safely afford to invest this sum and assume the speculative
hazard connected with most business enterprises because of the fear that
this capital might be lost, and that in case of premature death no provision
would exist for those dependent upon him. Life insurance, however, furnishes
a hedge against such a contingency and assures the prospective investor
in this instance that in case of his death and the loss of his investment,
the insurance company will reimburse his dependents to the extent of $10,000.
By thus removing a load of care from the mind life insurance promotes efficiency
and makes life happier. For this reason life insurance should be regarded
by the average man as one of his most treasured possessions, and premium
payments should not be looked on merely as an expense to be grudgingly borne.
It may safely be stated that the possession of an adequate amount of life
insurance causes the average policyholder to eat better, sleep better, feel
better, and as a result of these, to work better.