The Fraternal Monitor Volume 32, No. 8 baixar o livro de graça

This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1922 Excerpt: ...of many persons who lived and died. This scheme of valuation is remarkably accurate, for the reason that it takes into consideration the money accruing through interest earnings on the reserve invested, and because the expectancy of life it contemplates is the average of thousands of actual people who had their little say-so in this world and passed on reluctantly to see what the hereafter was like. Old-line companies had through long experience demonstrated what life insurance rates were adequate at the time that adequacy was proposed for fraternal societies, and the compilation largely from old-line experience of the N. F. C. table of mortality provided a good foundation for new fraternal rates. Valuation was not given much attention until the leaders of the battle for solvency desired some method of demonstrating to the members that their societies needed readjustment. So valuation was written into the old Mobile bill, carried into the New York Conference law, and is a mighty factor today. Societies are required to value, and they must publish the results so that all the world can see. There are several methods of valuation, each with its adherents, but it has vet to be demonstrated to us that all do not reach practically the same conclusions. Valuation inculcated in societies an ambition to reach solvency of 100 per cent, and as one after another reached that state they discovered they were legal reserve organizations. The laws under which fraternal societies set aside their benefit funds require that the valuation be on the basis of determining whether the sum will meet the ascertained liability. The contributions so designated as benefit funds can be used for no other purpose than the paying of claims, and they must be sufficient to cover the claims a...