Martinsburg statesman. [volume] (Martinsburg, W. Va.) 1869-1906, 1905-06-23
The Royal Arcanum

Inc Royal Arcanum
The Rov al Arcaaum. a fraternal in
surance order which has grown strong
in MANY sections OF the country and
was generally regarded as being the
best aud safest Of all such orders. has
given its membership such a shock by
a readieStment of its rates that many
will d)l) 1t IS abandon the order Its
managers have long been regarded as
conservative and reliable but like all
other asses sment orders it seems to
have started its rates lower
than the insurance costs and like
all other similar orders when its mem
bers begin TO die OF old age they are
short of funds to meet the increased
demands.
BY the new rates which were adopt.
ed by the Supreme lodge at Asbury
Park a few weeks ago and just
made known to the members. they
are struck with CONSERVATION. The
old men, like in most things, must
go and the worst feature is that it
comes to those who are as a rule most
in need OF the insurance and who are
the least able to pay large premiums.
The rates on members of advanced age
are so high that it will be impossi-
bic to carry the load. The obvious OBJ
iect is to rid the order of members
whose death claims will likely have
to be paid within The next IS or 20
years. The middle aged nem
bers are effected also but not to such
a serious extent. Whilst the member
of 65 years or over has the aterna-
tive of submitting to the payment of
$40 oS per month or getting out the
middle aged man has three or four
options all OF equal unreasonableness,
and which eliminates in his final
withdrawal from the order without
ANYTHING to show for what he has
paid in.
A member in this city went into
the order twenty years ago. His as
sessments were SI.28 and there were
out fifteen a year. This rate ran on
until 1898 When the supreme coun-
Gil with the purpose OF creating sur
pluss to meet the coming old age linn
Its, readjusted the rates upon the basis
of II year and our Martinsburg
man s assessments were raised to
81. "a from SI.2S.
The membership submitted to this
without any complaint but now our
member has these options: He must
pay on policy of $4,000, $4,29 per
month until he reaches the age of 65
after which he must pay SG6,o8 per
month until his death, or, he may
pay $6.S4 per month until death, OF,
he may take what is called the annua
step rate increasing each year until
he reaches IS. For instance our Mar
tinsburger will pay S3,48 per month,
this year, next year s. 6S and go in
creasipg until he reaches 65 years
and thereafter he pays SIP 90 per
month until death or, he may pay
$50 per month with full protection
until he arrives at 90 when the pro-
lection decreases, three and one third
per cent of the face of his policy each
year until he reaches IS years when
the protection will have decreased tC
halfits face value and remain at that
until death without any increase OF
assessments, or, he may pay So &C
per month until he reaches 65 years
when all protection ceases ami all as
sessments CEASE.
The local lodge here numbers loo
members, all good men and including
many Of the best business men of the
city aud county. A good many o.
them have been mem bers for twenty
or twenty-five years and have paic
in considerable III ouey. The order has
paid out to beuehciaries here Just
about what the lodge has paid into
the supreme council about S5I, 900.
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