The Portland daily press. [volume] (Portland, Me.) 1862-1921, 1896-09-30

An examination of the "Aotuaries
Table of Mortality discioses the fact
that the esvim ated annual premium on
$1,000. required to be paid by a man of IS
years to pay death losses alone is SS.S3,
while for man at so yenrs it Is SIS, the
Difference is So. n. or about 40 cents per
ysarsfor the Is years difference in age.
Now, while their estimate is So. So, our
exper hsnoe over a period of nearly fifteen
years shows 1t to be only 1896. If we
increase this item In the Same ratio for
fifteen years we Will find THAI 1t costs
$11 95 to pay the cost of mortality among
the men who went into the order at
thirty five years aud who are now fifty
years of a &c. Tht.e men will each have
paid into the life benefit fund tho sum of
$l42 50, and the mortality cost, increased
each yenr as above will amount to
$142. 25.5 We're we to stop growing now
and our, death rate'' was to increase at
the ratio indicated in the tables of NOR
tality, and there Were no suspensions, 1t
would require fifteen years to reach a
point where the monthly payments would
just pay our losses. This day. should
never come. This day need never come,
al if it does it Will be through the indif-
ference of tho meua bers, and in the day
u indifference they must expect to pay
more.
But there is another fact, and q very
important one, that must not bs lost
;xl,t <,f TN ota ,SNniY no hal H.
ties" in this case. The estimates of the
aotuaries tables arc based on the prin-
oiple, that there are no lapsos, that
man will continue TO pay and remain
with the company until his death. This,
experience demonstrates, is not the case.
1t islstated on the authority Of two of the
best actuaries in America. that out of
every 1000 members only 423 end their
connection with lifb insurance company
by death, while b77llapse. j In our own
case we have issued over 100000 certifi-
Gates to members, and have now in good
standing in the supreme te nj about los,
600 members, showing loss by death
and suspensions Of So 900: over $4,000 OF
whom terminated thsii membership in
1895, at total cost to the order of but
$3.50, 600, and while our ratio of losses by
suspension is much less than in the in
suranoe eompa MES, we are continually
losing members in this way, and all
who are paying our present rates, leave
something in our funds at suspension,
which can only be used to pay death
losses, hence, will inure to the benefit
of the persistent member. while at the
same time they, the suspended NOM
beers, have had their protection at the
esti mated cost of mortality as shown by
the tables.
There is no intention of building up in
our order an immense reserve fund, nor
Is there any probability of doing 80.
Yet, the surplus from these monthly pay
ments according to the experience of the
past, above referred to, promises to be
sufficient to pay all OUT obligations as
to any. and by having uniform cost per
year make 1t quite as easy to recruit and
increase our ranks when the death is 2 or
8 or even ten to the 1000. as it is now
when it is less than six.
The organization of these orders is a
movement among sthe people for the
people, in order thar they may get pro-
lection for their homes at a fair and
reasonable expense, and the growth of
the Macoabees is proof of their appreoia-
ton by the people. Note the progress of
the Maccabees. Established June 18th,
1881, membership, December 81, 1894,
17s, 7a7; membership, Desembe 81, 1895,
21S, 005; members, admitted in 1895, "a, :
500; net gain in mem bership in 1895,
80, 27S; new tents and hives in 1895, Loaf
benefits paid in 1895, 81, 675, 671.21; new
members, in first half of 1896, 1910;
Maocabee membership, August 81. 241,-
900; surplus funds. supreme tent, August
81, 1896, over $3.50, 10000.