In the earlier history of the business, there were no data at hand to fix its value. Experience of fifty years and more has furnished such data, and its value can now be determined with very considerable closeness, and very far within the charges of level-premium companies. There should be some margin charged above probable cost, as shown by the experience of companies; but such charges should not contemplate nor admit of such extravagant expenses as have, and do now, obtain in level-premium companies. The experience of assessment companies has shown that the business can be done for from $2 or $3 at most, for each $1,000 at risk. Is there any reason why level-premium companies should not be limited to _twice_ that amount? The recent law governing assessment insurance in Massachusetts requires that in every call for an assessment it shall be distinctly stated what the money is to be used for, and no part of the mortuary fund can be used for expenses. Will any man say that assessment insurance is not in advance of other forms of insurance, in these respects at least? Another important objection to level-premium insurance is found in the fact that it has drifted away from its primal purpose. Originally it contemplated simple life insurance. Its intent was to offset, to some extent, the loss incurred by the family in the death of its wage-earner. The death of the father involves the family in a pecuniary loss represented by the amount of his yearly earnings, and if this occur before he has had time to accumulate a surplus above yearly expenses, the hardships of poverty are added to the pain of separation from so valued a friend. Life insurance was intended to come in with its benefits at such a time, as the result of forethought on the part of the father in depositing a part of his savings with the life company. If this simple form of insurance had been adhered to, the temptations to unwarranted and hurtful competition would, in a large measure, have been avoided; but with most level-premium life companies this form of insurance is now largely neglected, and their energies are given to other forms, some of them highly speculative in their character. Contrary to the original purpose of life insurance, banking has been combined with insurance, and people have been taught to believe that they can secure better investments through life-insurance companies than elsewhere. It has never been clear to the writer how such results can be reached, in view of the excessive cost of conducting the business. Any suggestion of this kind, however, is at once met by the reply that the company has an immense amount of money invested, from which it derives a large income.