The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-02-28
per cont tho cost 10 too great III com.
parison with that In younger orders OF

per cont the cost 10 too great III com.
parison with that In younger orders OF
like character. VI
The radical defect 10 that tho X. OF II.
iail to Increase tho rate with increasing
ago, to tho ond, that all persons OF llko
ago, whether recent recruits orold nom.
bers. pay tho same price for tho salno
protection.
IL 10 supposed by tho uninIormod
That regular lilo insurance companies,
In continuing tho initial ratio through
out lilo, croatc tho worry discrepancy Of
which l complain. 1t 10 timo TINT q
regular. llfo insurance company will
charge for lilo policy OF $1,000, at ago
twonty.four, SO pcr yoar during lilo,
but u must DO noted that only about 81
OF this sum IL required to pay lossea and
Expenses, tho balance bong a deposit
(callod "reservo") at interest, which by
tho timo tho insured reaches tho ago OF
iltty amounts to S275. 80 that tho actual
protection at ago tifty Is but S725, being
tho original $1,000 loss tho resoro. In
case OF death tho company would pay
81 900. but S275 OF such payment would
DO tho insurod's own money on deposit
with tho company. Thus, whilo tho
company charges alevclrnte. tho amo cunt
insured Ia steadily decreasing. On tho
other hand tho X. Of Ii. furnishing n
Lowell amount OF protection should
charge an increasing rate OF ASSESSING ont,
Then each ago would pay Its proper
share and young mon could enter the
order with assurance OF no greater bur.
don than wa, thoir just due. OF course
this would result in heavy advance in
cost to the older membership, but 1t is
ono among the many infolicities Of ago
that doaths happen with increasing fro.
quoncy among such. aud liio insurance
ought to cost moro. This fact of~the
rapid increase OF cost for ages above
nifty brings into clear view the adyan.
tago OF paying in tho beginning tho
comparative triilo required above tho
more cost OF temporary insurance IN
order that tho protection may be SO.
cured for later years at price not pro-
hloitory. This 10 accomplished by tho
plans OF regular life insurance COM
panies. but cannot DO by fraternal or
assessment organizations.
have before mo tho New York in
suranco reports for tho years 1889 10
1891. From those it appears that tho
Knights OF Honor experienced death
rate in 1889 of about Is! per 1000, which
In lS03had increased to about l65. The
first figure Is that which would prevail
in u membership OF the uniform age Of
fifty; the latter is the rate for age fifty.
three. This indicates that large part
OF tho membership has passed the age
OF fifty aud that il young mon arc in.
duced to enter they do not continue in
the order to any apprsciable extent.
Much moro might be written on the
subject, but enough has been said to
justify tho objection 10 such organiza
ton on tho part Of life insurance men.
While it lasts it docs good. but when
tho inevitable and rapidly approaching
end comes can 1t DO truly said that il
has done no harm? What OF tho hun.
dreds and thousands who will be left
without needed protection and who
from age or indrmitics may DO unable
to get it elsewhere? Tha, is the other
side, and, to my mind. 1t ia not ploas.
mt prospect. deny that it is good
enough while it lasts" for nothing ia
good enough" which might as easily
be better. In tho language of an old
friend OF mino. "the best way is as good
as any," and in life insurance the bes.
way ia that which is popularity known
as the "OLp L1Srn
81. Louis. No.. Feb. Is.