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14 18 WINNETKA WEEKLY TALK, SATURDAY, MAY 30, 1925 NEWS OF INTEREST IN REAL ESTATE AND BUILDING FIELDS ¥ =X Your Insurance = Edited" 'By' P."J." Budinger LIFE INSURANCE The Premium-"The prémium is the; name given to the charge 'made for 'a life insurance policy. It is interesting to note how this premium is deter- mined. Tt is made up of three princi- pal elements: "Mortality", "Reserve" and "Loading." - The mortality charge is the actual cost on account of deaths. For instance out of 1000 persons aged 35 the death rate will be 895. In other ords the mortality cost at age 35 is 8.95 per $1000.00 insurance. It should be observed that the mortality rate in- reases with age. The: death rate at age 55 is 18.57 and increases to the probable maximum age of 95 when the rate is approximately 1000. To the mortality cost is added the "reserve" which as 'explained in a pre- vious article is that, amount necessary to keep the premituins level during the lifetime of the assured despite the in- «creasing death rate. This fund antici- pates interest earnings. { To the sum of, the mortality and reserve charge is added the "loading" which is the cost of doing business. The sum of these three, items results in the premium, Differencés in Rates Probably it would. seem. that all in- surance companies should have the same rates. The reason that there are differences is governed by various factors. The principal ones however are: that all companies do not operate on the same mortality tables, that dif- ferent interest earnings, and that all companies do not have the same costs of doing business. Ordinary Life Policy The Ordinary Life Policy'is the basis from which the other plans of life in- 'surance are developed. | It is simple life insurance protection designed to fur- dish the greatest amount of insurance for the least amount of premium. This is the "continuous payment" policy, which means that the premiums are payable until the insurddies. It is almost certain that most people think that because they have an Ordinary Life policy they MUST pay premiums for their life time. This is incorrect. 'To illustrate: You apply for an Ordin- ary Life Policy in the amount of $5,000. If the policy is issued you will be required to pay a certain premium for as long as you live and want the $5,000 insurance. But let us say that 20 years from now your need for pro- tection has decreased. It would be folly for you to carry the full $5,000, but you do not want to lose what you have put in. Here's what you can do: You can have your policy converted into a paid up policy for an amount a little in excess of one-half of the origin- al amount you carried. You discontinue paying premiums but whenever you die the amount of pajd-up insurance will be paid to your beneficiary. If you do not want to decrease your insurance but cannot afford the premiums you can in all probability discontinue the payments but the insurance will re- main in full force for approximately 15 years. With practically all the policies issued today these benefits and many others are provided for. If you have a life insurance policy that you think you cannot keep up, get in touch with the agent or company that wrote the policy, or if this is not convenient, get a good life insurance man of your acquaintance and have him advise you. 'The policy probably has benefits that will enable you to pull through and keep the insurance in force. These benefits we refer to are not limited to the Ordinary Life Policy, but as this is the basic plan of all life LET US HELP YOU WITH YOUR PLAN 40 You buying-property. plan-- your building plan--your mortgages--rents--managing es- tates, etc. We 'conduct a gen- eral real estate business help- fully. GLENCOE REALTY COMPANY 665 Vernon Avenue Glencoe, Ill. Phone Glencoe 1158 E. T. LEONARD, Builder | Ordin | tical fo ® wu nu wm | | ® un ® 4 aL B | | 4 | | a a Ey | 1 insuratice. we mention 'them in. con-! nection with it. It js interesting to: note that; most business men and prac-: tically. -all>of the large policies that are K¢ritten are issued onthe Ordinary Life pldf., "The reason is'simply that the. ry Life plan is the most prac- r nine out of 10 people. With it 'you can carry jnsurance consistent with your' needs and earning power. Limited Payment Plan The Limited Payment Life Policy is one upon which the policy-holder deposits premiums for a limited num- her of years, 30, 25, 20, 15 or 10 years ds the case may be, or until the prior death of the insured. The 20 Pay Life Policy for instance, requires the in- sured to deposit premiums for only 20 vears. At the end of that period the policy is "fully paid-up" and no further premiums are required. If the assured dies at any time after the policy is issued and the first premium is paid, the face amount will be paid to the beneficiary, provided of course that the policy is kept in force. The premiums on a limited payment policy are of course higher than those on the ordin- ary life policy on account of the fact that under a limited payment contract the assured buys the same benefit as is provided for in the ordinary life policy, but pays premiums for only a limited number of years instead of throughout his entire life-time. | A great many people confuse the 20 Pay Policy with the 20 Year Endow- ment. These are two different kinds of contracts. In our article next week we will explain the Endowment Policy and where it differs from the 20 Pay. We will also explain Term insurance. Chicagoan Buys Large Glencoe Residence Site The Colonial residence at 500 Long- wood avenue, Glencoe, on lot 324x303 feet with ravine frontage has been sold by Wilbur Hattery, Jr., to Joel Spitz of Chicago for $45,000. The purchaser intends to demolish the present resi- dence and erect a large home on the premises. Gilbert D. Johnson and Brother represented the purchaser and McGuire and Orr the seller. HEADY HOME-BUILDER "Consider the woodpecker," invites the Wichita Realty Messenger-- "He uses, his head to make a home for him- self." REALTY ACTIVITY "HITS HIGH MARK April Shows Best Record for Current Year The quantitative index of real estate market activity computed monthly by the National Association of Real Es- tate boards reached a new high point in April. The index, calculated from official records of actual number of transfers and conveyances recorded in 41 typical cities, measured eight points higher than for April of last year. for the preceding month, and 17 points higher than for April of last year. The April index figure, just ascer- tained, reached 176, the highest point recorded for the year. This means that the actual number of real estate trans- fers and conveyances in the cities re- porting was 76 per cent higher during the month just past than the average number of such transfers and convey- ances recorded in the same cities dur- ing April in' the period 1916-1923, which period is taken as the base of the as- sociation's reckoning. The figure for the current March was 168. For January it was 171, and for February, 173 The total number of real estate in- struments recorded in pril exceeded the number recorded in March by 11,833 in the 41 cities reporting. The upward tendency shown in the real estate market is quite in line with reports of an upward trend in building. Reports of building plans filed and of permits issued in 365 cities and towns compiled by S. W. Straus and com- pany, for example, show a gain of 32 per cent as compared with April of a year ago. The April volume of building con- 5Y,% Money Have funds to loan on choice improved North Shore Suburban residence property at 5%9, in- terest. See us on renewals. E. G. Pauling & Co. 5 N. LaSalle St. Main 0250 tracts as reported to the F. W. Dodge corporation is announced as the larg- est monthly total on record. Con- tracts awarded in the 36 Eastern states showed an increase of 14 per cent over March and of 13 per cent over April. The month just recorded is the first April since 1921 to show a gain in real estate market activity over March, al- though April of last year showed an index figure only one point lower than the March peak. BUILDING FINANCE We pay cash for seller's interest in monthly payment land con- tracts and second mortgages on houses and small flat buildings. WM. F. PELHAM CO. 611 Harris Trust Building Central 6702 Chicago, IIL We Invest Only Our Own Capital We Are Not Brokers ASSETS OVER $1,000,000.00 Safe Bonds INVEST your money in bonds and mortgages amply secured by local real estate. We have them. SMARGOIEE 1580 Sherman Evanston, IIL Read All the Want-Ads of repairs and building. enclose your porch. Amazing Values in Suite 8-9, 634 Davis St. Budget System Add a room to your home or Repair the roof or paint the house. PAY MONTHLY ON THE Easy Payment System Phone or Write for appointment. North Shore Construction Co. Phone University 7927 Double Wall Garages Evanston ACRE LOTS Beautiful acre lots near Lake Forest, surrounded by country estates. Price $1,050 per acre. Easy terms. 3 HILL & WHEELER, Inc. REALTORS "Homes for Particular People" WILMETTE OFFICE 334 Linden Avenue Tel. Wilmette 93 WINNETKA OFFICE 736 Elm Street Tel. Winnetka 142 Pv SOO oy INVEST IN FLORIDA NOW The frenzied rush for this sea- son has quieted. Now is the time to buy with sound judg- ment. There are opportunities for the man having only a few hundred } to invest as well as the man with thousands. We invite you to visit Florida as our guests. Come in and talk it over. Clore, Budinger & Smith 1177 Wilmette Ave. Wilmette 1750 a A > NorTH SHORE HOMES INC. Builders of Better Homes We Will WILMETTE, [LL. Plan \ Finance R} Chicago Office - First National Bank Bldg. & Build Phones Wilmette 2427 - Randolph 1433 *{'H-= For You rR Phone, Univ. 5035, Black Dir FERTILIZER LIME CRUSHED STONE FOR DRIVEWAYS Edinger & Sons Evanston-Wilmette-Kenilworth-Winnetka-Glencoe Wil. 642, Winn. 643 with THE JOHN owned. but how to get it. and apartments Result: Every ished in a style any price. vestigate! The Kind of Home that FEW PEOPLE COULD BUILD Money alone will not buy a home comparable EVANS, To money must be added inherent good taste in designing, ability to specify the best, and-- most important--the practical knowledge of a builder who not only knows what is wanted, The organization sponsor- ing THE JOHN EVANS has built fine homes for, many years. designed, built and furnished THE ORRING- 2 TON and THE LIBRARY PLAZA. In addition, owners benefit from the natural economy of a co-operative building. apartment home JOHN EVANS will be constructed and fin- which cherishes, but which not one in a hundred in- dividuals could duplicate for himself--certainly not at JOHN EVANS prices; probably not at The magnificent structure, location, and sur- roundings point to THE JOHN EVANS as the "Home of Homes." Before vou buy, build or rent again, in- Office open daily and eve- nings, or telephone Greenleaf 501. Ohe OHN EVAN; eApariment Homes CO~OPERATIVELY 1600 HINMAN AVENUE, at DAVIS STREET Telephone Greenleaf 501 In the Heart of Beautiful Evanston co-operatively They in THE every home-lover OWNED