The Yale expositor. (Yale, St. Clair County, Mich.) 1894-current, 1905-10-13
FRIDAY, OCTOBER 10, 1905.
NEW LEGISLATION BY |. 0. F.
important Changes at Atlantic City Con
NEUTRALITY-SUSPICIOUS. System and Term
Policy Assured Under New Rules.


vention.-lnstalment System and Term
Policy Assured Under New Rules.
The following article is clipped from
an Elizabeth, n. j., paper with regard
to the recent meeting of the Supreme
Court of the Independent Order of
FOresters, held in Atlantic City, MI
"While the legislation enacted by the
Supreme Court was limited, it was quite
important. The fact that the reports
showed that the surplus funds of the
Order had increased nearly four million
dollars since the Supreme Court session
in California three years ago, and that
they now amounted to over nine million
dollars, settled at once all rumors as to
an increase in rates.
among the changes made was the
reduction of the age limit to Is years
i'm place of Is years, as it has been.
This change was made in view of the
fact that the death rate for the ages of
Is and II years is less than four thou
sand.
"Another important change was the
addition of two new forms of insurance,
namely, the instalment system and the
term policy. BY the former member
can arrange to have the face value of
his policy paid to his beneficiary in 10
yearly instruments instead of one pay
ment. BY the term policy member
can carry insurance for term of either
five, ten, fifteen or twenty years. The
rates for these two plans are consider
ably lower than for the regular life
plan now i'm force. For instance, while
member 80 years of age pays month
ly premium of $1.14 for 81 900 insur-
al in, mo- hn
carry an instalment policy for $1.04
and for a term policy he will pay 70
cents for five years, 7S cents for 10, so
cents for Is, and Sc cents for 20. These
policies, which are optional, can all be
carried by the members if they so
decide.
at was also decided to issue a special
policy of $3.50, for the exclusive benefit
of the companion or women courts of
the Order The male members will not
be permitted to take out policy for
less than $500.
"After discussion on the subject it
was concluded to support the Orphans
Home by monthly contribution of one
cent from each member. This will ag
gregate about 1874 600 year.
"More than ordinary interest has
been manifested by the fraternal world
i'm the legislation enacted by the For
esters. The severe tension ensuing the
recent radical change in rates by the
Royal Arcanum, Knights of Honor,
Maccabees, and Catholic Legion has
turned the thoughts of the fraternalists
to the Supreme Court session of the
Foresters the latter having been the
pioneer in the readjustment of its rates,
in 1898 and the query was as to whether
this readjustment had been success
or whether the l. o.. F. would have to
again increase its rates.
"Hence the action of this body, based
upon its experience i'm the past and the
most prosperous condition of its finan-
ces, will be received with much satisfac-
ton by not only the members of this
particular Order, but by all fraternalists,
il being made evident that fraternal
insurance can be successfully furnished
when founded upon the proper table of
RATES."