Standard of living among workingmen's families in New York city, . ent of a fixed sum,—10 to 25 cents in mostcases,—an amount, determined by the age of the insured, is paidto the family after death. The amount of the policy is usuallyabout $100 for adults and $50 for children. The money receivedfrom the insurance company usually goes to pay the funeral ex-penses attendant on the death, so that it is more properlydescribed as burial-insurance than as life-insurance. A limitednumber of families, as will be seen later (page 233), do carry a 191 THE STANDARD OF LIVING real life or endowment policy
Standard of living among workingmen's families in New York city, . ent of a fixed sum,—10 to 25 cents in mostcases,—an amount, determined by the age of the insured, is paidto the family after death. The amount of the policy is usuallyabout $100 for adults and $50 for children. The money receivedfrom the insurance company usually goes to pay the funeral ex-penses attendant on the death, so that it is more properlydescribed as burial-insurance than as life-insurance. A limitednumber of families, as will be seen later (page 233), do carry a 191 THE STANDARD OF LIVING real life or endowment policy of $500 or even more. Some 56cases are reported among the 318 families under general, however, the insurance is not a provision for a rainyday, but a provision for meeting a single contingent expense;viz., the cost of burying the dead. At the outset of the inquiry as to the average expenditurefor insurance, we are met by a striking difference in the customs ofthe different nationalities in regard to insurance. (See Table 97, Co 60 n Tin i b. Diagram 16.—Number of families carrying insurance on property in each nation-ality group, (See Table 97.) page 196). Americans, the Germanic peoples, the Irish and thecolored, insure almost every member of the family, but lessfrequently insure property. Of the 158 families of these nation-alities, persons were insured in 139 cases, property in 51 the other hand, the Russians and Austro-Hungarians carryinsurance as a rule on property, and as the exception on the 89 Russian and Austro-Hungarian families, 79 carried in-surance on property, and 21 on persons. In other words, in thefirst group personal insurance was carried by 88 per cent, of thefamilies, insurance on property by 32 per cent.; in the second group 192 INSURANCE personal insurance was carried by 24 per cent, of the families andinsurance on property by 89 per cent. The Bohemians report inmost cases insurance of both kinds; of 14 families,
Size: 3108px × 804px
Photo credit: © The Reading Room / Alamy / Afripics
License: Licensed
Model Released: No
Keywords: ., bookcentury1900, bookdecade1900, booksubjectworkingclass, bookyea
