Orangeburg times. [volume] (Orangeburg Court House [S.C.]) 1877-1881, 1878-02-09

| the oldest Masonic Company OF this
kind the yearly cost has never ex-
ceeded Ia per cent. of the amount of
insurance. In other words, out of
1000 members never more than IL
have died in one year and the average
fora series Of years hus been less than
10 out of n thousand. The Pnlrous'
Aid Society of Elmir,, N. Y, of
Which | ain member, has been or
ganized three years, and for over Il
year and half they have had over
| 1000 members, and have hnd alto
gether 20 deaths up to the present
time. In other words, the presen
members of that Society have had an
insurance near three and half yea rs
for $50, which would have cost the
youngest i'll our costly companies
more than three times that amount
and the oldest members more than
ten times ms much.
1t is sometimes claimed that on
ourplan the oldest members have the
advantage, and yet, the youngest Sc
cure their insurance at less than in
the ordinary companies. 1t is true
that all, old and young, pay like
amount i'll the event of death in our
association; but the fee for member
ship consideration will be given to
The age OF the applicant after our an
nual meeting in 1879. A person
sixty years old will pay four or five
times as much ms one Of 25 years old.
The payment to carry insurance, so
to speak, is more of the nature Of
brother'y charity than of Il premium.
We do not paya fixed amount each
year, but join together in compact
to pay whenever there is death Of
member. What we pay goes not to
enrich any siocknolder, managers or
officers, but directly to the repre-
SShtoI'N 70 vi iilC dCCclSc'l. J. nc very
simplicity of this plan makes those
who are accustomed to the inrom pre-
hcnsiblc plans of the old computes
afraid of it.
There seems to he an in,lescrihab!e
pleasure Of being hein55.l by the
intricacies of so called Ii Insur-
"Ieos,- a,sA. a.-4s:io.,. ..!..s ,.,.a;.r-.s,t & "a:
some mysterious way is incouraged.
But OH plain simple Life Insu rance on
the purely mutual plan, there is
nothing to encourages the hopo Of
speculation. There is nothing bey-
ond affording an opportunity to pro-
vide aid for our friends in the event
of death at the lowest possible cost +,
and in the most Reasonable and easy
manner. The whole expense is paid
from time to time in small mounts;
there is 10 iuexorable pay day on
which the premiums must be met or
forfeiture of policy follows. There is
ample time given for the payment of
the small amount, and if for any
cause there is a failure in payment,
restoration IS easily effected. l have
spoken Of the first plan of Life Iusur-
ance in the table of rates given above.
The second plan you sec contempla-
ties larger annual payment for 10
years, at which time should the in
sured be living, hc is entitled to n
paid up policy. Agents would have
n young man Of 20 years, suppose he
is to get $1,000 for 1882, for that is
all he is asked to pay. But he is not
to receive anything. and the comp
any has this money of his at interest
of course, it is n safe speculation for
the company. 1t is more plainly
seen in the third plan or endowm ent
policy. Here the young man of2O
pays 81 OF; e annually for 10 years
and then he is entitled to $1,000.
This looks very liberal, but after all
he is paying fully rs much for lis in.
surnnce during the 10 years as in the
first plan, and if we leave the life
risk out of the question, as many do,
and 60 into it rs speculation, com :
pare the result of depositing $l02.5S
annually in Savin!s Bank or put
ting that amount at interest each