INSURING EDUCATION.
The Legal and General Insurance must be congratulated upon having devised what is certainly the latest and most novel scheme of insurance. Briefly. stated, the Society has arranged a plan in which it is possible for parents to arrange for the payment of termly fees and other educational expenses for the remainder of the normal education period should the parent die during that period. The leaflet prepared by the Society gives the intending insurer the choice of three methods. The first may be described as a compulsory scheme, wherein the school makes it a condition of entrance and charges the necessary cost as part of the school fees. The second and third schemes are of a voluntary character, and under Scheme B the parent or guardian has the option of taking it up or not, while the third method provides for an offer direct to the parent or guardian. Under the first two schemes, the addition to the school bill is either 5s., 7s. 6d., or 10s. per £10 of the school fees, the amount varying according to the age of the parent, the Maximum of that age being sixty. Under the third scheme, the cost of insurance is doubled, but is only payable for one half of the educational period. That the extra cost of obtaining this protection for the certainty of education being carried through ia quite reasonable may be gathered from the fact that under the first two schemes the amount payable on a school bill of; say, £50 per annum, -would be only £1 5s., while under the third plan it would be £2 10s.
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