RAISE SENIOR FUND BY INSURANCE AGAIN

A plan to raise the twenty-fifth anniversary gift of the class of 1925 by means of an endowment insurance on much the same plan as last year was announced yesterday by the officers of the Senior class. The plan, which contemplates a goal of $150,000 as a minimum, is of the participating type and involves the purchase of policies of $250, $500, or $1000 by individual members from the Aetna Life Insurance Company of Hartford at a premium of about $10 a year for $250.

Plan Has Many Advantages

This endowment insurance plan was chosen because of the distinct advantages it has over other plans. It has been found to be safer than any other method; the dividends will amount to more than under other plans; the management of the fund and the work of collection are assumed gratis by the insurance company; every member of the class will feel personally responsible for paying the premiums on the policy from year to year; and, lastly, the gift will be representative of the class as a whole instead of being made up of donations of a wealthy minority as has been usual up to last year when the insurance plan was first used at the University.

This particular type of endowment insurance was chosen after a careful investigation started last December by a committee composed of the officers of the Senior class and under the direction of B. F. Rice Bassett '25. Careful consideration was given to the method of collecting the contributions, to the investment of the funds and to the possibility of lapse of contribution.

13 Insurance Companies Considered

Propositions were received and considered from 13 different insurance companies throughout the country. After a great deal of careful consideration and study of the various plans, and after conferences with several of the agents, the Aetna company was chosen.

The reasons for giving the contract to the Aetna Life Insurance Company were that its propositions were more liberal and that the company had handled very satisfactorily a practically identical plan last year for M. I. T. Another advantage of the Aetna offer was that it would write policies for as low an amount as $250, which, in the words of the M. I. T. committee, "was deemed essential because it makes the plan more flexible financially; simplifies the matter of collections and practically places it entirely in the hands of the company. The Aetna is also recognized throughout the country as one of the leading life insurance companies. Their financial stability is unquestionable, and the extent and organization of their agencies will assure the best available service in the matter of collections."

The arrangements provided by the Aetia company as to policies maturing through death, disposal of dividends or other causes, were very satisfactory.

"I believe in this plan and believe that it is workable," said Horace S. Ford, Bursar of Technology, in a statement to the CRIMSON yesterday. "In considering these plans, you have to look 25 years ahead and see what the total fund will be then."

This plan is not new and untried, although until last year no Harvard class had put it into operation in its present form. Princeton has used with great success a similar plan and M. I. T. last year put into operation one to which the present proposed plan is almost identical.

$250 Policy Is Minimum

Under this plan, all members of the class of 1925 will be given an opportunity to sign up for special 25-year endowment policies of $250, $500, or $1000. In the event of the death of the insured before the twenty-fifth anniversary, when the policies mature, the class will of course at once receive the face value of the policy, which will then be invested with interest.

The Committee has issued the following statement in regard to the policies:

"The minimum for which a policy may be written is $250. While not urging men to subscribe who are plainly unable to do so, the Committee expresses the hope that all the members will contribute, and urges men to take as large amounts as possible, in order that the goal of $150,000, as a minimum, may be reached.