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Thursday, April 18, 1974
University Daily Kansan
Prof Savs Most Students Don't Need Life Insurance
Kansas Staff Recorder
Rv GLENN MEYER
If you're a student, you probably don't need life insurance, according to Leland McMullen.
"Insurance companies try to sell policies to students that they should never buy," he said recently. However, several area insurance accents disagreed.
"People shouldn't buy life insurance unless they just want enough to cover support for dependents, or the mortgage on a house or other major debts," he said.
Students usually don't need life insurance, he said, because the death of a young person with no dependents creates little hardship for anyone.
Pritchard said if one needed to insure the
support of a dependent or to back a major
政策 should buy a decreasing-term
policy.
He said the rates for this kind of policy
are very low—around $2.25 or $2.50 for
$1.00.
The amount saved by buying a decreasing-term policy instead of any policy that contains an investment feature, he said, can be invested in Series E U.S. Savings Bonds and produce far more returns than a cash-value life insurance
Life insurance is a bad investment, be said, because:
- It provides no inflation hedge because it is navalable in a fixed number of dollars.
The savings a person makes are a fixed
legal charge—the person has to make the payments even if he doesn't have the
—The rate of return on the investment feature of life insurance is low.
But Don Hartman, of Hartman & associates and an agent of Wid联 UItion Ltd., has been appointed as the director.
Regardless of the company, he said, insurance rates go up an average of 4 per cent for every year a person ages. It's better to cover a lower cost because it will mean lower premiums later.
Hartman said it would be wise for a student to get a life insurance policy with a certain age, because it is safer since it was always possible that a person might later become uninsurable because of an accident.
Nixon Nominates Simon to Treasury Post
President Nixon nominated federal energy, chief William E. Simon to succeed George Shultz as Treasury secretary yesterday and moved to reclaim for himself some of the broad economic power he had granted Shultz.
John C. Sawhell, Simon's top deputy, was promoted to federal energy administration by Nixon with instructions to press ahead with the effort to secure nuclear fuel.
Simon and Sawen will take over their new posts upon Simon's confirmation by the Senate. Shults will then depart for private work, which would include an international service event.
Former presidential advice Charles W. Colson has joined Special Prosecutor Leon Jaworski, in requesting a subpoena for more than five dozen White
Colson Joins Jaworski in Tapes Request
Colson, former special counsel to President Nixon and a defendant in the Watergate cover-up case, filed a motion in U.S. District Court in Washington yesterday joining Jaworski and adopting the special prosecutor's reasons for closing the case. The judge agreed to inspect all such materials" along with attorneys for the government.
Nixon's lawyers apparently don't intend to object to Jaworski's request.
He said students could also get life insurance for a means of saving, because although a person could save more by giving it to a charity, they savings account, almost no one did that.
Twelfth Victim Murdered in Zebra Case
Nelson T. Shields took advantage of the spring day to play some lacrosse, then helped a buddy move a rug.
Moments later the 23-year-old son of DuPont Co. executive lay dead in a San Francisco street, three bullets in his back, the 12th white person killed in a car accident on March 15.
The murder bore strong resemblance to the others in a wave of apparently unprovoked shootings that has terrorized residents and left the largest police investigation in the city's history puzzled. Police labeled the case "Zebra" after firing shootings one night in January.
In less than five months, 12 people have died and six have been wounded. In almost every case the victim was apparently minding his business at the time of their death.
Stewart Martin, special agent of Northwestern Mutual Life Insurance Company.
SenEx Ponders Faculty Duties, Safety Adviser
The University Senate Executive Committee (SenEx) and Chancellor Archie R. Dykes agreed yesterday that the University Senate would hire of a professional security consultant.
James E. Seaver, Sen Ex chairman, said yesterday, "We agreed in principle that hiring a consultant was beneficial, but having the funds to hire a person for the job."
Seaver said SenEx also discussed the issue of faculty members working on jobs or projects that didn't relate to their teaching responsibilities.
"We aren't sure in what directions our study will move," he said, "but we will want to be as close as possible."
According to Seaver, some members of the Kansas Legislature have expressed a concern that faculty members are using their time for jobs, including consulting responsibilities.
Faculty participation in the decision-making process and the University chain of command are also being studied by SenEx, Seaver said.
"We want to clearly identify the chain of command and perhaps modify it for implementation."
Seaver said the study was being made to firmly establish "exactly where to go to learn."
The information, he said, could be incorporated in the Faculty handbook to help clarify the University's governmental system.
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said he thought students who could afford to, should buy life insurance.
The article also said, "Critics say that agents often use the loans as leverage to push students into buying insurance they don't have. This can bind the obligation the note imposes."
year's premiums for those in graduate and professional schools. The student makes a nominal down-payment and signs a note to the bank for the remainder of the premium plus tax.
matters such as buying insurance. The course has no prerequisites, he said.
Cecil Peterson, Kansas district manager for Union Central Life, agreed.
Admission is FREE, of course!
"I think any economics professor who teaches insurance would recommend that his students get $10,000 to $200,000 worth of life insurance," he said.
Pritchard also taught a course entitled Personal Finance (economics 464) and Business Mathematics (accounting 465).
Many students who had taken his course discovered that they didn't need and were losing money on insurance policies they were carrying, he said.
State insurance regulations require that a written record of arre- jements such as financing premiums be attached to the insurance policy or included within the text of the bill said, and that this record be mailed to the employer at the same time the policy is mailed.
An article issue of life insurance in the March issue of Changing Times magazine said: "To overcome objections from the student that he can't afford to pay (life insurance) premiums until he starts work, the agent will offer to finance the first
GOP Defeat . . .
From Page One
"I don't think Watergate was the issue that won or lost," Strauss said. "I think Nixon leadership was an important issue that allowed it; it had a great deal to do with our success."
up a new danger that the Republican party and its candidates, though not party to Watergate, may be the unfair victims of the watergate because of the Watergate affair."
Sen. Robert Griffin, assistant Republican leader, who was in Bucarest with Scott to attend a meeting of the Interparliamentary Union, said the Democratic victory meant "no Republican should assume he has a safe seat anymore."
Sen. Jacob K. Javits, R-N.Y., said in a statement that the Michigan result "points
George Bush, Republican chairman,
issued a statement that said, "Of course,
I will."
Our candidate closed the gap in the last few days after the President's visit but obviously not enough to win. The economy was under crisis hurt and of course Watergate hurt,*
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KANSAS UNIVERSITY 54TH ANNUAL ENGINEERING EXPOSITION
L11
If you would like to work toward a bacccalaureate or an advanced degree, you'll get financial help from the Army Generally, if your studies are in a field considered valuable to the nation's defense, we'll pay the full tuition. If you choose non-defense related courses, we will still pay 75%
Thousands of young men and women go to college in the Army On post At nearby civilian universities. At Army schools Through correspondence or extension courses.
Under the in service GI Bill, we'll pay 100% of the tuition, but each $220 paid will reduce your remaining GI Bill benefits by one month.
You probably won't be able to earn a college degree during one enlistment, but you should get an excellent start on it, and still have two choices when your enlistment is up You can either stay in and continue your studies, or leave the Army and continue your education under the GI Bill.
Go to college in the Army. Or after.
when you successfully complete your enlistment, you'll get 36 months of financial assistance at the college of your choice. As a veteran without dependents you'll get $220 a month,$261 with one dependent,and $298 with two dependents plus $18 for each additional dependent
If you're serious about continuing your education, today's Army is behind you.
TELEPHONE: 843.0465
FRED D. HILL
SERGEANT FIRST CLASS, U. S. ARMY
U S ARMY RECRUITING STATION
000 MASACHUSSETTS AVENUE
LAWRENCE, KANSAS 68044