8 94 Chapter 4 Life Insurance and Dependency
The Sociology of Life Insurance© 1928
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CHAPTER IV
LIFE INSURANCE AND DEPENDENCY
All normal persons, at some time in their lives, are
dependent upon others for a living. Man is born into
the world dependent upon his parents for a living and
he remains so from infancy and childhood to early
adult life. During his middle life, he may become
dependent upon his family, friends, or society through unemployment, disabling accident, or illness. Finally, there is always a chance that he will become depen-
unemployment, disabling accident, or illness. Finally, there is always a chance that he will become depen-
there is always a chance that he will become depen-
dent upon his children or society in his old age.
Dependency Hazard of Normal Persons
The hazard of dependency for any normal person is
graphically shown in Chart A. For instance, children
are normally dependent until age eighteen or twenty,
when their earnings begin. Their incomes rise more
or less steadily until their late forties, when incomes reach their peak. They then decline steadily and
reach their peak. They then decline steadily and
reach the level of subsistence around age sixty-five.
From then on, many individuals, especially the un-
thrifty, become an increasing charge upon their fami-
lies or society.
Dependent Childhood
Under present standards of living in this country, a
child is largely dependent until age eighteen or twenty, 76
, 76
