People's Pilot, Volume 5, Number 9, Rensselaer, Jasper County, 22 August 1895 — Comparative Cost of Life Insurance. [ARTICLE]

Comparative Cost of Life Insurance.

Official reports show for 1893 the following in regard to the three classes of life insurance in the United States. Fraternal Societies, including the National Alliance Aid. have 1,801,000 members, carrying $3,000,000,000 in risks; paying $31.000,000 in losses, at an expense of *2,413,000, or a total average of *9 for every *I,OOO insurance carried, of which only 62 cents per SI,OOO was used for expense. Ordinary Assessment Companies had 1,676,000 members, carrying $4,170,000,000 in risks, paying *28,655.000 in lc'sses, with $18,305,000 for expense; or total cost per SI,OOO, of *11.70, of which $4.50 went for expenses.

Old Line Companieshad 1.167,000 members, carrying *3,213,000,000 of risks, paying *57,192,000 at an expense of $48,636,000 or total cost of $32 per SI,OOO carried, of which *10.34 went to pay the expense!! You pay your money and take your choice. The expense of conducting the old line company is more than the entire cost of Insurance in the Fraternal Society. The fraternal orders furnish the cheapest kind of life insurance in the world, and the farmers live longer than other classes, accordingly the death rate is l:>wer than in other occupations —therefore, it naturally follows that life insurance furnished in our own order will bo cheaper than in any other order—the cheapest in the world. The following counties in Indiana are now represented in the Aid Degree: Boone, DeKalb. Green, Hamilton. Henry. Madison, Marion and Tipton.