Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1912-03-12
No Increase Of Rates for the Wood
men Of the World

No Increase Of Rates for the Wood.
men Of the World
The present monthly assessment
rates Of the Sovereign Camp, Wood
men Of the World, were established
September J, 1901. At that date they
were considerably higher than many
other societies. These rates have pro.
duced a handsome increase in excess OF
current death and monument claims,
which is placed in our Emergency Fund
now aggregating over Sl3, $50. 900. 90,
earning semi-annual interest Of over
II per cent per annum. During the
past two or three years there was ad-
ded each year about or over 81, 1000, 000..
90 to this fund. It is not assumed that
an attempt is being made to accumu.
late illegal reserve, )" such as is re-
quired Of old line insurance companies.
Our Emergency Find is merely de-
pository Of over payments for current
protection; lapsed members leaving
their excess contributions to benefit
persistent memb ers and thus the So
ciety is not seriously the loser by nor
NAL lapsation. If the death losses dur
ing twelve months should exceed the
proceeds of twelve monthly assess
ments during calendar year the ex
cess death claims are to be paid from
the Emergency Funda contingency
thus far not realized since this plan
was evolved. The contributions and
interest accumulation to this fund in
excess of death claims during 1912 we
may conservatively estimate will reach
So, 500, 5000, therefore, there appears
to be no lucid reason for considering
any change of monthly rates.
Of course, it is understood that the
w. O. W. rates are not strictly on an
even thousand dollars, but cover one
hundred dollars excess benefits to every
member for a monument. A $4,000
certificate includes 500 monument
the same as $1,000 certificate. So it
is unfair to assume that our monthly
rate is for 81, 100 instead of $1,000. 1t
is singular fact that our savings on
our accumulative certificate produces
an amount sufficient to pay for all our
monuments; condition that is likely
to exist az long as the present acces-
sion of new members continues.
The Mobile bill adopted by several
states calls for a valuation in 1913.
The w. @. W. never has had an accu
rate valuation made. A pretended
valuation by South Carolina Clerk,
which he stated was not to be made
public, and which several most promi-
nent and competent actuaries declare
is not correct. but based upon wrong
and Insufficient data and
does grave injustice, is being dis
seminated by old line agents and ma
lignant fraternal deputies. We do not
believe in legal reserve requirement
of fraternal orders. The Mobile bill
does not require it and if exacted and
complied with it would destroy the
fraternal system, which is intended to
provide fraternal life insurance at it's
actual cost, which is now safe-guarded
by state laws and divorces it from old
line exactions and dividend producing
revenue Fraternals do not need bill
lions of dollars to meet improbable con-
tingencies and to be juggIed by the
frenzied tinanciers of Wall street.
Valuation for information of the
is adoption of the custom.
time -honored in England, but as a
measure of solvency and so.called
illegal reserve" requir ements 1t is not
consist ent with the fraternal system.
If valuation shows that extra assess
ments may be. required or re-adiusted
rates the members have right TO
know it. and Visitor is confident, based
on careful estimate made by Actuary
Barth that such contingency cannot be
shown by tair valuation of the W. O.
W. based upon its twenty years ex-
perience.
Therefore. it is safe To say most
positively that no REIMBURSEMENT of as
sessment rates is being considered or
anticipated Sovereign Visitor. (Of-
fetal Paper of the Woodmen of the
World }