The Somerset press. [volume] (Somerset, Ohio) 1873-1977, 1878-06-20

: ofIfce to Judge as 10 wheather Il is safe ;
| lie or not. Its certificate of incorpora
tion is so framed that il can give life ex-
pection endowment insurance. on the mu- /
/ tnyl assessment plan. For example, GER |
tifcates of membership are issued to three |
classes, the insurable portion of cammui- |
/ ty being limited TO the ages from 18 to so |
( years-those between IS and 35 have an
average expectancy of 25 years and these
may insure for not exceeding $4,000; those
| between SO and 4S have an expectancy of
| 20 years, these may insure for not more
than 81, 600, and those between 49 and go
have an expectancy of Is years and these
may insure for $1,000. These are paya-
| BILE either at death or at the termin-
alton OF the periods of expectancy, should
they live SO long; provided that
the membership is full, being limited
TO 5000 members. If they are not full,
/ then pro rata amount is paid in pro
portion to the number OF certificates out
Each member is assessed 81. and no more,
on the death Of one Of the members; moth
ing is added for the expense of collection,
etc. The membership fee is uniform $40
in each case on sending in the application;
and this fee pays the agents, stationery,
home Office fees, and incidental expenses;
and there is no means of other compensa :
| tion to the officers until such time as each
class is full.
Ordinarily it has been usual in mutual
protection associations, to add twenty five
per cent to each assessment when death
occurs. to meet the expenses of collection,
ETC. For instance the assessment on death
wonld be 81, 90 10 each member, to which
would be added 25 cents to meet expenses
!, of the home office in collection and set
Ting the claims. In this way 5000 mem
| = T1,--
2 while on the plan of the State Mutual Aid
Association 5000 members (if FULL
> pays in $4,000 and pay to thesheirs OF
: the deceased, $1,000, saving to the insured
Q two hundred and fifty dollars in each death.
/ Another provision which must commend
# this company 70 the public. The CONTRACT
: they make, that if at any time there is aris
q ing from assessments any surplus suffcien
!. to meet loss, over and above the amount
y necessary to meet the economical expense
II of running the Office then no assessment i
70 made upon the policy holders or member
Us of the association for that loss, thus tn,
10 members of this association are getting tn
. security for their families at its actual cost
4 and being divided into three classes, ther
9. is an equity established which meets tn
r. public favor. In looking over the lists O
=. the members of this Association, we fonn
r
~ men who had given much study and at
he ..eation to the different systems of life in
- surance, ard certainly after the experienc
of of the past few years among this class {
-. men in connection with those eastern CON
n. panies which have failed and sunk in
Nv mense suFpluses on the stock system it
nf certainly high compliment to the mar
agement of the officers of this associatio
:. and the system OF mutual protection it o
:ae :a fers to find this class of our citizens Ell
ie. couragingit with their membership. Nea
az ly two thousand members from the be
,es class of the business public, seattere
as throughout the State, have Joined this a
"s sociation during the past nine months
ice it's active operations, and We feel prou
i1S that our city has thus set an example
!. oi economy in insurance and put in success
Us, full operation system which must eve
M tually become general, and which, mo
" than all others bind together various ar
pa conflicting interests of society in one co
sn 81. mon brotherhood, With the strongest of ii
.i .iiS The officers of this popular Associate
sne are:
nef Hon. VIM. Bell, jr., President.
m Hon. Chas s. Smart, Vice Preside
Is IS and Actuary.
Up John G. Reinhard, Treasurer, (banke
J. II. Sampson, Secretary.
ore J. R. Flowers, NJ D. Medical Directc
no. T,5ro 7 IT NToCon,bo o,d n q n,
) IS Inns, Counsel.
are Samuel w. Anderson, General Manag
su c. W. Critchfeid, Special Agent.
l1es J. B. Lybarger and Fl. E. Wildermut
IN l District Agents.