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Show The Thrift Builder That the insurance industry is looked upon not only as a pro-! pro-! tector of dependents, but as a safe ' haven for savings, is shown by the record of sale of annuities. An annuity policy is all savings and is not, in the strict sense of the word, insurance. Yet during the past decade premiums paid for annuities have increased relatively rela-tively six times as fast as premiums pre-miums paid for life insurance, according ac-cording to Dr. S. S. Huebner. During 1930 and 1931 annuities were the only major branch of the insurance business to register gains. An annuity, of course, does not take the place of a life insurance policy its sole purpose is to pro-. pro-. tect the holder in his old age -i and other types of policies must . likewise be purchased if an estate . is to be created and the future ; livelihood of dependents assured But the fact that the American ! public is becoming increasingly i "annuity-minded" is a great de- monstration of the faith it has in the institution of insurance. The person who buys an annuity, whether in a single payment or over a period Of years, is creating1 a reserve against the tune when his earning capacity falls and it is of the utmost importance to him that the concern receiving his money offer absolute safety. A legal reserve life insurance company com-pany offers exactly that. This is one more example of the fact that life insurance, in all its many branches, has been a magnificent mag-nificent influence in favor of thrift, foresight and stability, particularly par-ticularly during the past few years. No insitution plays a more vital " part in the economic and social development of the nation. |