216 BUSINESS OF LIFE INSURANCE

company secures increased capital and valuable influences in its behalf, not only with-out expending more for commissions upon new premiums, but actually with greater economy. With the allotment of stock safely disposed of, if the work has been done well, there should be an abiding aid to secure new business in these localities in the persistent interest of these stockholders in the work.

Stock in agency companies or in an investment company which promotes the life insurance company is also sometimes offered in a similar manner. The purpose in such case is to secure money to pay current expenses and to develop the business.

There is, of course, no legal impropriety in this sale of stock and policies together, whether it be stock in the life insurance company or in an agency or investment company. Precisely how it will work out is a question which will doubtless be answered differently in different companies.

The following is a specimen of grossly improper estimates of dividend returns upon stock, united also, it will be noted, with illustrations of policy results :

Guarantees and estimates on a $10,000 ordinary life policy, with stock, on a life, age 47, twenty-year settlement :