INSURANCE

Among the many other agencies to promote thrift we shall only
mention BUILDING AND LOAN ASSOCIATIONS and INSURANCE. The purpose
of building and loan associations is to help people of small means
to purchase or build homes. Insurance affords a particularly good
illustration of organized cooperation. The PREMIUMS paid by
thousands of policy holders produce a large sum of money, part of
which goes to pay the expenses of the insurance company, but most
of which is invested in enterprises that cause the amount rapidly
to increase. Out of this fund the occasional losses of individuals
are paid. Life insurance is a good form of investment. It provides
for the future of the family of the insured in case of his death.
By the ENDOWMENT plan the insured may himself receive, at the end
of a specified number of years, all that he has paid in premiums
together with interest.

During the war our national government itself insured the soldiers
against death or injury. This was known as WAR RISK INSURANCE. At
the end of the war the soldier had the privilege of converting the
war risk insurance into a regular form of insurance, still
provided, however, by the government itself. One of our states
also, Wisconsin, sells life insurance to its citizens.

As we proceed with our study we shall encounter other aspects of
thrift in various chapters. As a nation we may be thrifty or
unthrifty in the use of our resources (see Chapters XIV and XV).
Thrift is as essential in our "community housekeeping," which is
carried on by government, as in our homes and business. But we can