Insurance

Cover Insurance
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There are in that country not less than 3,000,000 insurable men and women, mostly men. If each were insured for $1,000, the simi of $3,000,000,-' 000 would be represented, wherea.s the companies do- ing business in Canada have at present in force a little more than $1,000,000,000, covering only about one- sixth of those who could and should avail themselves LIFE INSURANCE 91 of the service and help of life assurance. In their effort to overcome this national disability, the life in- surance com...panies have been somewhat hampered by the tendency of the provinces to place unduly heavy imposts upon the premiimis collected within their several jiu-isdictions, but it is hoped that the legisla- tive need may pass and that many of these tax burdens will eventually be removed. The Canadian federal government has recognized that to tax life insurance premiums is a penalty on thrift. In 1916, when fram- ing legislation for the taxation of business profits, the federal government exempted the business of life insurance.

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