Decorah public opinion. (Decorah, Winneshiek County [Iowa]) 1895-1928, 1912-02-07
NEW WOODMEN RATES.
Description of New Plan Under
Which Worlds Largest
Insurance Fraternity
Will Operate.

There are so many members OF
the Modern Woodmen of America in
Winneshiek county, that We take the
space to publish the new rate plan
adopted at the Head Camp in Chi.
cago week ago, which we are sure
will interest all members, as well as
many others:
BY vote of 400 to 3O7 the head
camp increased the rates approxi-
mately forty-seven per cent. This
substantial increase effects 1,27O,6
members Of the order. The new rates
become effective for new members
May 1, 1912, and old members have
until January 1st, 1913, to make
their choice of seven optional plans.
If by that date they have not declar-
ed their preference they will arbi-
trarily be given the whole life plan
ranging from rs cents a month to
every $1,000 when IS years old to
50 per $1,000 at As.
A concession is made to members
over As years, that of allowing a
cash payment of 50 month for ST.
900 protection with the right to
charge the remaining 81 or more a
month according to age) against
their certificates, to be deducted with
4 per cent compound interest at
death. This is purely optional.
Term rates for periods of life to
so, so and 20 years of age, and end
ing at these ages, are special feat
ure Of the revision. Old members
with life certificates who do not wish
to increase their assessments may
elect before January 1, 1913, to
choose term insurance to one of the
three ages. Old members up to 80
years of age may be re-rated at their
attained ages counting from the
birthday nearest the date of the
transfer.
For instance, a member 55 yenrs
old can obtain $500 protection for a
monthly payment of $3.50, $1,000
protection for SO a month, and so Oh
up to $4,000 protection for 50. On
the $4,000 certificate he would be
obliged to pay only Sc a month IL he
wishes, the remainder being sub
tracted, with per cent interest,
from his certificate at the time of his
death.
New members are acceptable only
between the ages Of 18 and As. Their
expectancy of life being fifty years at
18 and twenty-seven years at as,
their rates are correspondingly low.
or. They. too, may elect the term
insurance to any one OF the three
ages.
The so year term rate on $1,000
insurance taken out at 18 years of
age is but 40 cents month. This
increases to a monthly payment OF
As cents IL taken out when 81, to
so cents at 26, 55 cents at 81, to
50 cents at 36, to IS cents at fl,
and up to As. The term rate on ST.
900 starts at monthly payment of
$1.25. The 70 year term begins at
80 cents and increases to 50 a
month.
Other recommendations are:
Privilege of carrying insurance
partly whole life and partly term,
e. g., a $4,000 certificate may be is
sued, $1,000 whole life, $500 ter
minating at age so, and $500 ter
insurance at low cost while member
has obligations and dependent fam
lily. yet providing substantial prOtec-
tion good until death at any age.
Term insurance members continue
as social members after expiration
of term.
Present members over As to age
55 at level adequate rates for either
whole life or term insurance; all
over "a years carried at rate for age
54, regardless of actual age.
Authorizing small whole life GER
tificates of 500, 5000. or $500. at
rate. in the nature of
funeral benefit.
Permitting payment of assess
ments and dues six or twelve months
in advance.
Permitting applicant to provide in
come and support for beneficiary by
payment of certificate in five or ten
equal annual installments, computed
on basis of 3 per cent interest: also
adult beneficiary under no
legal disability to take settlement in
such installments instead Of lump
cash payment.
The new table of rates on $1,000
insurance is 75 cents per month for
the member at 18 years, running by
gradual scale to IS cents at 20, 90
cents at 21, 81 at 25, $1.15 at 80,
$1.35 at IS, $1.65 at 40 and 50 at
As, with the intervening ages at cor
responding figures. At 46 the in
sured pays $2.1O per $1,000, $2.20
at AZ. increases by ten cents each up
to SO. when 1t is $2.75, $3.50 at SO,
SO at 54 and the same figure from
that age up. For $500 the insurance
rate is half, $500 one and one-half,
$4,000 two and $4,000 three times
the above figures.
That old joke about leap year
and the girls should be sent to the
undertaken, says the Marshalltown
when woman
wants a man she usually gets him,
leap year or no leap year. and keeps
him thinking all the while that he
did it himself"
Oklahoma has more mules than