Vernon County censor. [volume] (Viroqua, Wis.) 1865-1955, 1906-07-25

Win the very existence OF the INST
tuition to be passed over lightly. W.
must bring our best endeavors &c
bear upon these questions. The weai
spots must be cut out as the surgeon
removes the diseased portion Of the
tissues of his patient, in order that
the balance of the body may thrive
Lessons Of Experience.
Five facts Of the greatest value to
fraternal societies in the future, have
been demonstrated through their ex.
perience:
4. Rates must be calculated on
mortality tables.
%. Reserve provisions must be
made to eoraIize the hazard of liz,
creasing age.
80. Provisions must be made for
an adequate regular increase in men,
bership.
a. Fraternal societies by their
method of economy of management,
can grant insurance at less cost than
does the old line company.
IS. Fraternal insurance properly
conducted more nearly covers all The
needs of the people.
TOO much stress canot be laid upon
the members of fraternal societies
that payment of the premium, assess
ment or rate charged, constitutes bit
a part of the cost a member should
give in return for the protection af-
forded; some service for the organiza
tion--the securing of new members
constitutes as much part of the cost
as does the premium. And while the
theory of new blood can by no
means take the place of recognition
of mortality tables, it is nevertheless
a fact, that those societies which have
received a large regular increase m
new members. have been able TO
keep down the current cost, and put
off the day of judgment.
May as Well FACE Problem.
You may as well ace the problem
of adequate rates fully and frankly az
this time If we are aG.e to furnish
safe insurance, it behoOves US, there
fore, to throw around the gateway to
our institutions, all proper safeguards:
Adequate rates, rigid me lical selec-
ton, regular increase in membership
accountability. restriction of invest
ments and explicit contracts.
AT a conference Of the Wisconsin
Legislative Committee and officers OF
fraterual societies recently. offered
the follo' ing suggestion eventually 10
meet the situation effectively ana
without the injection OF tumut and
woe:
First. Provide by law that from
and after July l. 1907, all fraterlal
beneficiary societies, organized in this
state, aud all such societies applying
for admission. shall collect from mem
bers minimum adequate rates as a
prerequisite 10 obtaining a license to
do business in this state.
Second. Provide the from ana
after January /, 1908, all fraternal so
cieties doing business in this state
shah collect such adequate minimum
rates from all new members.
Third Provide that the funds OF
members paying adequate rates, be
kept separate from the funds of men.
bers paying inadequate rates. and
permit the members in The inadequate
class to transfer to the adequate class
at attained age, without medical ex
animation,
Fourth. Provide for annual ap
portionment and accounting of Sun,
plus to members paving adequate
rates, ard when the surplus is sufi
cient TO warrant it, relieve the men.
bers from paying an assessment.
Fifth. Provide that fraternal So
cieties may issue the following con.
tracts: Yearly renewable or step
rate, level premium twenty payment
life, and level premium TO age So
when assessments cease and insur.
ance is void. BY permitting the Issue
Of these four kinds of contracts, COM
petition with the legal reserve or old
line companies viii be stimulated. an0
a reduction in the cost of insurance Ia
the latter companies viii be the re-
suit
4 believe this is the best method
by which f:aternal societies can
eventually be placed upon a perma-
nent solvent basis
Il recommend that the adequate
minimum table of rates for fraternal
societies, be based upon the American
Experience Table Of Mortality with
interest at three and one-half OF -four
per cent, These rates may seem too
high. but when required in connection
with the provision waving an assess
ment whenever the accumulated sur
plus will warrant, members will be
given their insurance at actual cost.
and ultimately, may only be called
upon t. pay 10 or II assessments, an
nually."
MEM MEXICO SHAKES.