Waterbury Democrat., 1901-03-06
RATES OF INSURANCE.
K. of G. Delegates Discuss Subject
 Report of Committee.

K. of c. Delegates Discuss Subject
 Report of Committee.
 The afternoon session of the Nation al convention of the Knights of Colum- bus, held in New Haven yesterday, was devoted to discussion regarding the rates of insurance. No definite ac- tion toward establishing rate was taken and the matter, after being un- der the consideration of the conyen- ton all the afternoon and evening, was referred back to a committee.
 The plan is to make the insurance feature of the organization similar to the old line companies and to eSta bliSh the lowest rate compatible with the safety of the organization and the per petuity and to guarantee immediate payment whenever the insured may die.
 National Secretary Colwell said to a reporter that while not in love with the old line insurance companies the order desires to give the lowest poSsi- ble rate and he believes that they can give great deal lower rate than the old line companies give.
 The following is the report of the committee on increased membership assessment:
 To the Councils of the Knights of Co.,
 lumbus: At meeting of the National coun- ell, held on May 31, 1SaS. the question of insurance feature of the order was brought up for discussion. It was seriously urged by several leading members of the convention that the present plan under which We are op- erating is faulty and that it's continu- ance must necessarily seriously ieoD- ardize the perpetuity of the order. so far as Its insurance feature is con- cerned.
 Thereupon the National council be- ing impressed with the gravity of the situation as presented by these argu- ments. appointed this committee, which committee was instructed to take into consideration the entire uues- tlon and to report the result of their Investigations to the National council At the session of the National council, held in March. 1899, the committee made a report.
 The committee was continued by the National council. and during the year 1899 to March, 1900. gave serious consideration to the subject carefully Investigating each of the plans re- ferred to in the foregoing report to- gether with other plans submitted.
 In this investigation the committee was assisted by professional actuaries of high standing, and as a result of their labors. in March. 1900, submitted to the National council the following plan:
 This plan requires a level premium to De paid for the whole of life but provides that tho insurance should be for the full S1.OOO only until the age of Go is attained. and after that reduce year by year just in proportion as the risk of death increases. This is a very rational mode of insuring. because it provides the largest amount of benefit at time when a man needs it most and reduces it gradually as the need for 1t diminiShes. and when it's cost Is becoming faDidly more and more bur- denSOnle. When men have passed the age of @ their children are generally self-SuppOrtin@. and able to support their mother if she be still alive. The rate for insurance on this plan would be about as follows. assuming that ex- penses would be paid by a separate provision:
 Estimated Three Per Cent Rates.
 Based on Canada Life Assurance
 Company's Experience and Am. Ex.
 Tables.
 Rates Fixed for Life.
 Insurance S1OOO to age 6.
 Insurance Reducing after G5. Estimated Annual Rates, Payable Monthly. I,,