My wife and I started in the insurance business some years ago, specializing in mobile homes (house trailers). One of our main lines of insurance was credit life insurance. It insured the life of the purchaser of a mobile home for the term during which he was purchasing the home, and it insured for exactly the amount owed the bank on his time payments. If he died the day after he purchased a mobile home on which he owed $5,000, the insurance company paid off the $5,000 debt and his family would not be dispossessed. There is one type of policy which represents the savings element alone and does not provide the insurance element. This is the annuity.


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