Lincoln County record. [volume] (Pioche, Nev.) 1900-1905, 1903-09-11
NEW PLA
ADOPTED BY
A. q. u. W.

insurance that was adopted by the
lnembtrs OF the A. o. U W. at the
meeting of the grand lodge held in
Reno Tuesday, and which the local
lodge have been figuring on, has
been explained by j G. Tate of
Dtnver, the Past Supreme Master
Workman.
IL brief, the explanation of the
new ruling is as follows:
The A. 0. U. W. has been ex.
isteace thirty five years. During
th't time it has paid $129, 900 600 to
famllies of its deceased members.
From 1865 to 1896 it operated unde.
what is known as the "leval plant
each member paid $1'per assessment
but there YVES no limit is to the num-
Der. In 1896 new plan was put in
to operation, which fixed the iates
according to age, and advancing
from G5 cents per assessment on
81 900 at lSyears of age to $1.9l at
the age of fifty and over.
At The time the change was made
it was sought to put reserve fund
in force, to be levied with each
assessment, aud consisting of 25
cents per mouth on elch 81 900 in
surance in force. This feature of
the plan was almost unanimously re-
jected. Had this reserve fund been
created, the order would now be
absolutely safe. The assessment
were limited to twelve in any one
year. it was soon discovered that
this plln was inadeqlate to say the
death looses, aud at the session of
the Supreme Lodge, held in June,
1908, new rates were established,
which will put tue order on basis
as to solvency, equel to that of any
regular insurance company in this
country.
The new plan gives the members
the option to cloose between a rate
which remains level throughout life,
or a plan which pays very small
rate in early years, but advances
with age uutill fifty FIVE years is
reached, after which level rates of
81 40 per $1,000 is charged. In order
that the older members may not be
uuduly burleued guaranty fund is
created from payment of younger
members, aggregate the sum of
$50, ,000,0 900. This money is divided
between the members now over fifty
6veyears ofage aud they may use it as
q reserve to make their certificates
safe, or they my cease plying assess
ment, aud ia le it in the form of
paid-up insurance.
For example A member now sew
enty years of age, under the new
plan, need pay no more assessment
and Can take paid up certificate for
5000, wich is more money than any
member has paid into The order as
assessment.
A member now seventy-6ve can
take puid up certificate for 81 1873.
The man, now fifty-fve years Old,
who pays the heW rates, will have as
q reserve, which he can take as paid
up Insurance, the SUN of $692 on
$1,000 of insurance when he reaches
the age of seventy-fve or 1884 on
$1,000 certificate.
A young man at eighteen years of
age will puy 81 50 per assessment an
$1,000 he reaches fifty five years of
age, after which he ouly pay 81 pei
asst ssnent.
he will not only pay less sum at
fifty five then he did at eighteen,
but will Lave reserve, which cun
take in the iorm Of paid-up insurance
in the sum OF 1888.
Under the new plan the rate Of
sessment has been increased, but
every certificate will be participating
one.
The order can now look the world
In the face aud defy to prove that 1t
is not able to pay all of its obligatian
The A. 0. U. W. has done a vast
amount of good, many families in
the city having received $4,000.
Tie order never refused to pay an
honest claim. It is now the sufest
and grandest fraternal society on the
face of the earth.