Message on Life Insurance Day.

[Released January 11, 1932. Dated December 29, 1931 ]

My dear Mr. Borden:

I am interested to learn of the plans for Life Insurance Day to focus attention on the part which insurance plays in the economic life of the nation, as well as in the assurance of individual and family stability. The sixty-eight million policy holders of the country with policies aggregating one hundred nine billion dollars, represent a major stratum in the very bed-rock of our economic life. Insurance not only protects the home and family and their social and spiritual values, but helps to meet current and future needs of expanding industry, commerce and education. I am informed that more than half, or fifty-four per cent of the people of the United States, own life insurance. The individual initiative, foresight and systematic saving which this represents makes for stability in the entire social order.

During the period of economic dislocation through which we are passing insurance has been a major factor in maintaining stability and will contribute to recovery. The mighty reservoir of capital and security which insurance represents is an asset to the individual, to the family and to the country.

Yours faithfully,

HERBERT HOOVER

[Mr. Albert G. Borden, Chairman, Life Insurance Day, 393 Seventh Avenue, New York City ]