The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1912-02-01

How are the new rates going to
work? This is the question that is
being asked by several hundred mem
bers of the Modern Woodmen Of
America in Kenosha today and while
! Kenosha was rated as one of the cities
in favor of the adoption of the report
of the revision committee which was
successfully carried through the head
camp session on Saturday afternoon
members of the order in Kenosha ex-
pect that the enactment of the law
covering the new rates will result in
many lapses in Kenosha. The new
rates for present members do not go
into effect until January l, 1913 and
for new members not until May l, Of
this year, and this will give the pres
ent members plenty Of time to look
into the matter and in the meantime
the insurance that has been carried
will be just as good as it has been
for years past.
Under the existing insurance rates
of the Modern Woodmen it is COM
puted that there would be in time a
deficiency of $270,00o,000. All except
| 8 per cent, or $22,506,555 of this will
be taken care of through the re-
apportionment upon the order IS table
of new rates, even though the oldest
members are given concession of a
maximum monthly rate of 50 on $1,000
Of protection.
The remaining deficiency, which is
absolutely confined to the present
membership, is to be borne by the
younger members in the form of a
fraternal tax or loading. 1t will not
be a separate tax, but it figured into
the rates for the younger members.
This is held to be justifable as broth
erly cooperation, being intended to
relieve the 100000 members above the
deficiency creating age by sharing the
temporary burden with the 100000
below this age.
In order to give the largest possible
protection with the smallest possible
assessment burden further relief is
made to members more than As years
old. This is concession Of allowing
cash payment of So a month for
$1,000 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.
Reinstatement tables are made show
! ing reduced protection on the present
rates paid under the old rating, or in
creased payments under the new rat
ing to retain the old protection. Ac-
tuaries reckoned the old rates to be
but SO per cent adequate, so that the
new rating, in the aggregate, will
mean an increase of AZ per cent.
Term rates for periods of life to so,
so, and 20 years of age, and ending at
these ages, are special feature of
the revision. Old members with life
certificates who do not wish to in
crease their assessments may elect be-
! fora Ton, 4 + 1O1Q 10 obooeo u 49,, -
surance to one of the three ages. Old
members up to 80 years may be re-
rated at their attained ages counting
from the birthday nearest the date of
the transfer
For instance, q member So years old
can obtain $500 protection for a month
ly payment of $3.50, ST. coo protection
for So a month, and so on up to $4,000
protection for 50. On the $4,000 GER
tifcate he would be obliged to pay
only Sc a month if he wishes, the re-
mainder being subtracted, with 4 Per
cent interest, from his certificate at
the time Of his death.
New members are acceptable only
between the ages of Is and IS. Their
expectancy of life being fifty years at
Is and twenty-seven years at 49, their
rates are correspondingly lower. They,
ytoo, may elect the term insurance to
any one of the three ages.
The so year term rate on $1,000 pro-
lection, if taken out at IS years of
age, is but 40 cents month This
increases to a monthly payment Of IS
cents if taken out when q, to so cents
at 26, to So cents at 81, to go cents
at SO, to IS cents at II, and up to
As. The go term rate on $1,000 starts
at a monthly payment of so cents if
taken out at Is, and increases to a
monthly payment of $1.25. The 20
year term begins at so cents and in
creases to 50 a month.
Other recommendations are:
Privilege of carrying insurance part
! " whole life and partly term, .. 6, a
$4,000 certificate may be issued, 81 1000
whole life, $500 terminating at age so;
and $500 terminating at age of 20;
giving maximum insurance at low cost
while member has obligations and de
lpendent family, yet providing sub