Los Banos Rotary Club History
Life Insurance Is Income Property

Speaking at the Rotary Club luncheon here Tuesday noon, Remos A. Killian, of Modesto, district manager for State Farm Insurance Companies, gave his listeners a new conception of life insurance as he termed it "income property," designed to provide regular assured income in the later years of life when man has passed his regular earning ability.

"Man has one common problem," Killian declared, "varying only as to the degree of individual circumstance.—We must all have income in the form of money: and we all endeavor to accumulate a surplus of money during the earlier years of life of serve us as we grow older."

As to how successful this endeavor is, Killian quoted American Bankers Assn. statistics to show that of every 100 men who reach age 65 only five have accumulated as much as $2,000, and five years later only one of the five men still have as much.

Killian pointed out the pitfalls that deplete the family bankroll through the years—illness, loss of job, unwise judgment in business investment, poor business loans, these are only a few of the unexpected things that two frequently cause the average man, at 65, to still be dependent on whatever earning capacity he still has.

By contrast, Killian pointed to the advantage of a wise, well planned life insurance program, designed to take care of tomorrow's problems with today's income. The annuity principle of such insurance, he said, permits us to store up our surplus money during periods of regular earning and provides for the return of such monies later at a regular rate that insures steady, continuous income for our concluding years.

December 2, 1955

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