The Jersey City news. (Jersey City [N.J.]) 1889-1906, 1893-04-06

The report further stated that: During
the past year five of its members dice.
Rev. Charles Maybury. Rev. Isaac w.
Cole, Rev. Thomas II. Smith. Rev. Ralph
S. Arndt. and Rev. Alexander l.. Brice,
d. d.
PROFITABLE SAVING.
His report goes OF to say
Such is our Association, and much more. Re-
suits show that we combine one of the very best
methods of safe and profitable saving with life
insurance. Since 1875 we have pail twenty two
death claims, aggregating SIS, $685., at a total
cost of assessments to the deceased of only
S2,5S6. %. We think we hazard nothing in saying
that our plan of life insurance produces the
highest possible results at a minimum expense,
and that it is by far the cheapest Insurance to
be obtained. For the purpose of comparison we
present the following facts and figures OF the
past year
We paid the families of our five brethren,
lately deceased, the total sum of 1855. 81, at a
cost of assessments to the deceased of only
81 ,0l9.05. Had these brethren at the time they
Joined our Society taken out life policies of in
surance of $1,000 each, payable at death. in any
sound Mutual Company, they would have paid
according to the American table of current rates,
a total of annual premiums amounting to
S3,712. 10. and their families would have received
in return a total insurance of 100000, plus
dividends. We have paid their families q total
insurance of S2,355.5 81, in excess of the above
100000 exclusive of dividends), and have
saved them 81. %, in the payment of annual
premiums.
We are confident that the addition of dividends
accruing from the business OF the most success
full Mutual Life Insurance Company will signal
ly fail in comparison with these points OF ad-
vantage to the insured in our Association.
Twelve and one-half cents per week of the
savings of a brother, twenty five years of age,
will pay his assessment on the death OF a
member. Fifteen cents per week of the
savings of a brother thirty-f1ve years of
age, aud twenty-five cents per week of the
savings of a brother forty-five years of age, will
more than pay their Individual assessments on
the death of q member. We have averaged
only one death a year since our organization
Twice in our history not a death occurred in the
space of three successive years. The chief ad-
vantage of our plan of insurance is that We are
not burdened with heavy expenses.
On examination we find the average ages of
| our deceased brethren to have been fffty-six
years; their average assessments $i17.55. and
the average insurance paid their widows 81, $780,
70. A careful calculation of the premium rates
of any well managed Mutual Life Insurance
Company, will reveal the fact That Twenty-Five
policies. of $1,000 each, payable at the death of
the insured, and issued at the ages our de-
| ceased brethren had severally attained when
they became members OF this Association,
| would have cost, in the payment of annual pre-
| $4O9. so. or a total of S9.0l5 80.
In contrast with this showing we call attention
to the detailed payments of the twenty-five
death claims, and cost of the same to the in
sured, as Incorporated in the accompanying
| roll of our deceased members.
1t affords your Secretary pleasure to record
that at the last meeting of the Board of Direc-
tors, held December 10, 1892, the following re-
solution was adopted by a rising voter
Resolved, That the Board of Directors recog-
nize in the prompt and cheerful payment of the
| assessments made upon the members during the
past year, a guarantee of the future stability
and prosperity of this Association"
DECEASED MEMBERS.
Appended to the report was a tabls
showing the growth of the order. The
table follows:-