CHAPTER XXI
REBATING, LOCAL BOARDS AND STOCK WITH POLICIES

THERE are inducements offered to purchasers of life insurance at times which do not fairly come within the designation "varieties of policies," but to which, notwithstanding, a place in this series of articles is due on the ground of their importance. ,They may be denominated "schemes" as the title, which is all-embracing, and not as a mere epithet of opprobrium. For they are of very unequal merit and some of them deserve respectful attention, though all should be examined with great caution.

An offer of a rebate off the first year's premium is easily first in importance of these schemes. It is very seductive, too, either when one is first approached in this way or when he is approached with such an offer that a single year's protection for a large amount will cost but a trifle.

The rebate made its appearance, as we have seen already, in the form of a commission or "tip" to the applican','s attorney, even before