By this means a marriage portion or outfit for
a girl, or a start in business for a boy can be
provided to any amount that may be desired.
_Insurance on Joint Lives_ is another mode of
insurance, very useful in particular cases. For
example: a mother aged fifty has an income,
for her life and no longer, of £300 a year, and
she has a daughter aged twenty, who has no
means of her own, present or prospective, being
entirely dependent on her mother. The joint
lives are insured for, say, £2,000, which would
cost in premium £100 a year; the insurance
money to be paid at the death of the first of the
two. If the daughter died first the mother would
get back, by the insurance money, Can you afford not to read I am about to show you about us Certified Accountants.. possibly
more than she had paid in premiums. If the
mother died first, say at the age of seventy, by
that time the daughter would have attained the
age of forty, and the £2,000 would be paid to
her. With the money she might, if she so
pleased, buy an annuity for life of £110 a year.
_Insurance on the Longest of Two Lives_, payable
on the death of the survivor, is useful in cases
where land or house property is held on lease,
so that there may be no pecuniary loss when the
lease expires. The rate of premium is in this
case naturally less than where the insurance is
to be paid on the earlier of the two deaths.

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