Savings Through Life Insurance

  • “If it's a savings account, why do you pay interest on it when you borrow?” asked Blake Newton, president of the American Council of Life Insurance.
    • “Why is it extinguished when you die?”

1979 0930 - NYT - The Appeal of Life Insurance Fades, But Most Families Still Buy It, By Edwin McDowell  ---  [BonkNote]   ---  [link-Paywall Free]

  • The amount of an individual's permanent savings in the form of life insurance may depend upon factors such as age, income, marital status, size of family, and other assets.

--  James M. Woolery

1962 - SOA - Discussion of Subjects of Special Interest, D232 Society of Actuaries - 8p

  • (p36) - See, for example, the statement of John Filer, then president of the Aetna Life Insurance Company, that a whole life policy is not partially insurance and partially savings. It is wholly insurance."
    • Hearings on FTC Life Insurance Cost Disclosure Report (1979).
  • (p36) - Also see the American Council on Life Insurance response to the FTC staff's use of the term 'savings through life insurance' in Ibid 133- 134, and the distinction made therein between savings in a macroeconomic sense and the benefits contained in a whole life policy.

1985 11 - FTC - Report - Life Insurance Products And Consumer Information, by Michael P. Lynch and Robert J. Mackay,  Staff Report Bureau of Economics, Federal Trade Commission  ---  [BonkNote]  ---  [PDF-317p]

  • 1960 0418 - Ad - Institute of Life Insurance - St. Petersberg Independent, The Evening Independent Newspaper- [link-Google-News]
    • Life insurance, in addition to providing for family security, plays an important role in our national growth.
    • ⇒   Savings, through life insurance, help provide the funds for new schools, new factories and the new jobs a growing America needs.
    • The money saved and used in this way also helps in the continuing fight against inflation.