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18 WINNETKA WEEKLY TALK, SATURDAY, JUNE 20, 1925 NEWS OF INTEREST IN REAL ESTATE AND BUILDING FIELDS Your Insurance Edited By F. J. Budinger LIFE INSURANCE The Term Policy Occasionally a man's circumstances are such that his need for protection for a short time is completely out of proportion to his ability to purchase it on any plan affording permanent protection. To meet cases such as these the Term policy was designed. It pro- vides yearly insurance at a very low premium, and is issued only to pre- ferred mail risks. It is most useful as an emergency policy for business men. Simple yearly term insurance contem- plates an increase in premium each year. However, most companies write it for a term of years, 5, 10, 15 and some companies 20. Also to make the con- tract as flexible as possible, the policy contains a provision that it may be re- newed for successive terms, each upon payment of the premium corresponding to the age attained at the beginning of each period. It further provides that the insured may at any time exchange the policy, without medical examina- tion, for any plan of life or endowment insurance issued by the company issu- ing the term policy, at the insured's attained age. It also provides that the insured, upon payment of the differ- ence in premiums with interest, may make an exchange for a policy of life or endowment insurance dated back to the original date. The usual 31 days grace for payment of premiums is also allowed and the insured has the priv- iledge of changing beneficiaries at any time. Disadvantages of Term Policy From the description it is clear that the term policy is admirably suited to those individuals who need a large amount of low cost temporary protec- tion, and who may later find it very desirable to change the form of their insurance when circumstances permit. There are however many reasons why the Term policy is the exception rather than the rule. The superficial thinker will probably carry Term insurance and advise his friends that it is the cheap- est and most adaptable plan. Note this: The Term policy does not have any cash or loan values. To illustrate the importance of this, consider for a mome~.t how it affects the cost of the insurance. Assume that Mr. A. and Mr. B. both require additional life in- surance, but that the need will only be during a period of 10 years. Mr. A. decides to take Term insurance and Mr. B. has been advised that Ordinary Life would be cheaper and so he fol- lows this advice. These parties we will assume are both age 35. The premium in a certain life company for a 10 year Term policy is $11.23 a vear. The same company rates Ordinary Life at $20.92 annually. In 10 years Mr. A. will have deposited $112.30 ad Mrs. B. $209.20. They will now surrender their policies. Mr. A. will have nothing but a can- celled policy and Mrs. B. in addition thereto, will receive his cash value of $124. Deducting this $124.00 from the $209.20 deposited leaves a cost of $85.00 for the 10 years of insurance or an an- nual premium of $8.52 as against the term rate of $11.23. Further more, if for instance, that after both these par- ties had carried their respective con- tracts for five years, and something turned up to make the premium pay- ment impossible, or it was just neglect- ed, Mr. A. with his term insurance would be in a serious predicament if his health at that time was not as good as it was five years previous, because unless he could satisfy the company that he was physically fit, he could not reinstate the insurance, whereas Mr. B. carrying Ordinary Life contract would have the benefit of extended in- surance because of the cash value fea- ture in his contract, all of which means that his cash value would be used to pay the premiums which he failed to pay and his insurance would therefore continue in full force. Note this: If you're carrying Term insurance and you fail to pay the premium within the grace period, your insurance lapses, whereas if you carry some other plan and have had it in full force for at least two years, (this is the required period with most companies) and fail to pay the premium within the grace period, your insurance does NOT lapse but is extended until the full cash value of the policy is used in paying the pre- miums. For instance, an Ordinary Life contract on a person age 35, at the end of the third year has a cash value of $20.00 or expended insurance for two years and two months which means that if the insured dies during this per- iod, the full amount of the insurance will be paid. The amount of cash value and length of extended insurance of course increase proportionate to the length of time that premiums are paid on the contract. There are other fea- tures which make the Term policy only one to be used in an emergency, but what we have explained are most im- portant. MRS. EDWARDS DIES Mrs. Charles G. Edwards, wife of Charles G. Edwards, president of the National Association of Real Estate boards, died June 4 after a long illness. REPORT SHOWS REALTY ACTIVE Investments in Homes Seen on Upgrade The market for real estate generally shows a greater degree of activity than during the season of 1924, according to the sixth semi-annual survey of con- ditions over the United States and Can- ada which has just been completed by the National Association of Real Es- tate boards. The survey is made through reports from constituent local real estate boards in 225 cities. While phenomenal demand has de- } veloped in certain communities and an unusual stagnation has been experi- enced in certain other communities on the whole the real estate market is a steady one, on a high level of activity. Money for the development of real estate is reported as plentiful in the United States as a whole, with rates holding steady. However, there is a tendency toward falling rather than rising rates, the survey finds. Money for first mortgages is most plentiful in the larger cities, which re- port almost unanimously that capital is available in excess of demand. The greatest volume of demand for money is for loans on homes and resi- dential property. Money rates are holding steady in 67 per cent of all the cities reporting. A tendency toward falling rates is re- ported in 27 per cent of the cities. Only 6 per cent indicate a tendency toward rising rates. American cities are evidently expand- ing rapidly in their residential areas. The survey finds the market for subdi- visions showing even greater activity than the lively market of last vear. Demand for single-family dwellings is the strongest impulse of the real estate market in 157 of the 225 cities reporting. In 89 of the cities the de- mand for city lots for residence sites is leading the market. Demand for suburban lots leads in 64 of the cities: this demand is greatest, of course, in the larger cities. Demand for business property is at the head of the market in 50 of the cities reporting. Home Town Boosters to Feature Realty Meeting When 20 cities from Winnipeg to Oriando and from Baltimore to San Diego pit their charms against each other in the Home Town Speech con- test to be held by realty people of the United States and Canada in connec- tion with the coming annual conven- tion of the National Association of Real Estate boards, the whole world will have an opportunity to sit in on the judgment. The contest, which will be held in Orchestra hall, Detroit, Wednesday evening, June 24, at 8 o'clock, Central Standard time, will be broadcast over Sation WCX Detroit. Fach city through its chosen orator will have five minutes in which to present its unique advantages. A preliminary contest will narrow the 33 entrants down to 20. FOR RENT Hubbard Woods 6 Room Flat, tile bath, hw. heat, newly decorated, $85.00 per month. HILL & WHEELER, Inc. REALTORS "Homes for Particular People" WILMETTE OFFICE 334 Linden Avenue Tel. Wilmette 93 WINNETKA OFFICE 736 Elm Street Tel. Winnetka 142 We Will Build For You! "THE HCME YOU WANT" 10% Down Balance on monthly payments A complete service--plans etc. all included in our price. See the homes we have built on the North Shore from Wilmette to Waukegan. Lake County Construction Company 212 Washington St, Waukegan, Ill Phone Waukegan 3031 10 N. Clark St., Chicago, Ill Phone State 8825 |E. E. Stults Negotiates Big Chicago Transaction George E. Cropper, has just sold to Rebecca Jenks, for a cash consideration of $100,000, the one-story business block at the northeast corner of Montrose and Lincoln avenues, Chicago, consist- ing of nine stores, showing a rental of $9,540, on a lot 9215 feet on Lincoln avenue and 15274 feet on Montrose. E. E. Stults Realty company, repre- sented all parties to the transaction, and will continue to manage the prop- erty. The company does an extensive business on the north shore. Woman Realty Operator Attends National Meet Miss C. J. Hoey, manager of the North Shore Real Estate company, with offices at 418 Linden avenue, Wilmette, expects to leave Sunday for Detroit, Mich., where she will attend the sessions of the National Associa- tion of Real Estate boards next week. The National real estate meet is scheduled to hold its meetings be- tween June 22 and June 26 at the Motor City. HEAR TAX EXPERT C. G. Rogers, Washington, D. C, supervising internal revenue agent, will speak as a representative of the In- come Tax department at the coming annual convention of the National As- sociation of Real Estate boards when it meets at Detroit, June 23 to 26. He will address the Property Management division of the association on matters of income taxation in relation to real estate holdings. THE, NEVER-BIRD IS A POOR LOSER I groans, "Why did I put it off --now all that I have in the world is gone up in smoke." ret us write that fire insurance for you NOW! GLENCOE REALTY COMPANY 665 Vernon Avenue Glencoe, Ill Phone Glencoe 1158 E. T. LEONARD, Builder | Wilmette Artist Conducts Summer Camp in Wisconsin Miss Marie Arnold, 1410 Gregory avenue, instructor in art in the Mad- ison, Wis., public schools, announces that she will conduct a summer art camp in Door country, Fish Creek, Wis., beginning July 5 and continuing over a period of four weeks. The camp will be instructed by graduates of the Art Institute and will specialize in sketching, oil colors and modeling. There are a few open- ings for students genuinely interested in art, Miss Arnold states. Miss Arnold is a graduate of the Art Institute and has been an instructor at Madison for two years. Wilmette Home Near Kenilworth $9500.00 Terms Six Rooms Three Bedrooms Hot Air Heat Two Car Garage Lot 75 x 150 Many unusual features Near Schools and Markets First Offering Clore, Budinger & Smith 1177 Wilmette Ave. Wilmette 1750 Honest Investments Invest your money here where the principal will be safe and the high interest rate certain. Phone Univ. 285 or Rogers Park 0272 and ask for our securities list. SMARGIEE 1580 Sherman Evanston, I1L a. 882 Pine Street EVERGREENS, PERENNIALS, SHRUBS AND TREES Winnetka Landscape Company Not Inc. M. J. SULLIVAN, Prop. GRADING--SEEDING LAWNS--TRIMMING--FERTILIZER BLACK DIRT--MANURE Men for private grounds by the day 'WINNETKA, ILL. Phone Winn. 1549 48 lots in 25 acres. felder Rd. uarantee -- Grand Opening of Glencoe Gardens Subdivision SUNDAY, JUNE 21st, 1925 Facing Community Golf Links, Winding streets 85 to 110 ft. lots, from $55 to $60 a foot for in- side and corner lots--highly restricted. Drive out Sheridan Rd. to Green Bay Rd. to Hohlfelder Rd. (at Forest Preserve) then 14 block west, then 2 blocks south to office, or 1 block north of Dundee or Skokie Rd. on Hohl- ELDER & BETTER SUBDIVISIONS Suite 624 First National Bank Building Phone Cen. 0374 : CHICAGO Only NEARY atisfaction "Clean as the Sun's Heat" Sold and Recommended by: Winnetka 734 AT 'Reduced Summer "Prices You save when you buy this fuel and you save when you use it MORE HEAT --LESS COST--LESS ASH Winnetka Coal-Lumber Co. *. b/ A; re ---- ee Sa. S-- a