Premiums and Reserves for Deferred Payment Protection

As deferred payment protection was clearly described before this Society by Mr. R. O. Davidson at the Fall meeting in 1926 (Proceedings, Vol. XIII, Page 80) brief reference only will be made to the nature of the benefits. The contract is made between the creditor and the insurance company. Its purpose is to prevent the creditor from suffering any financial loss due to the accidental death or to the disability of any debtor who has purchased an article under one of the established time payment plans.