# Lehre und Wehre_St. Louis Missouri_September 1899_S266
# Machine transcription, uncorrected — CHI Digital Archive (demonstration)

266 „Lebensversicherung im Lichte der heiligen Schrift.“

panies à fund to meéet liabilities; hence they charge premium rates
in excess of the amount that will really effect the insurance, viz.: 2
reserve element, aà mortality element (together constituting the net
premium), and the loading' or expense element, which is an ad-
dition to the real cost of insurance to provide for operating ex-
penses and an occasional excess of mortuary loss. A παααεα c⁰οm-
panv is one organized withta stock capital, in which polieyholders
have no managing voice, but which does or does not vield them à
share in the profits according to their form of insurance, mutual or
Sstock. —AëC˙uo²mpany doing business on the Level vremium system
requires advance payment of premiums, makes a contract with the
insureéd called a policy, indicates in the policy the exact sum pay-
able to the beneficiary, and keeps the premium Zevel or the same
each year of the paying period excepting where they may be re-
duced by dividends. — A company doing business on the natural
hremim system requires advance payment of premium, makes a
Contract with the insured (policv) indicates in the policy the exact
sum payable to the beneficiary, insures for one year only or à frac-
tional part — 3 or 6 months — renewable from time to time at the
option ofe the insured without further medical examination, and
Charges a progressive premium, one that increases each year be-
vond the rate of the preceding year, but may he reduced somewhat
py dividends. . . . A company doing business on the dssessment sys-
tem classifies its members by age-periods; fixes a different rate of
assessment (premium) for each class, and calls assessments either
for a single death, a specified number of deaths, at specified inter-
vals of time, or when the amount of money on hand falls below the
aggregate of immediate liabilities or existing wclaims. Some of these
companies do not designate on their certificates of membership 2
definite sum that will be paid to the beneficiary. ... Another form
of insurance . .. is Known as the co-operatve. Among the first if
not the very first organization to adopt this form was the order of
Freemasonry. The rate of admission was graded by age, assess-
ments of §1.00 or §1. 10 were levied whenever a death occurred,
and the beneficiary of a member received 51.00 for each member
at the time of bis death.

person deésiring to become insured may make his choice
from among hoοιεe-ιμFe, term, endo⁰umenti, j3ont-Hιfre, annνειινν, sur-
vνοrνιον αννπει, tondne, semi- tontene, reneuable term HyFfe, and
αμανεετά reneιονοοιεe term A5tε policies, or, if his means are too lim-
ited for him to pay the premiums required for the above forms, he
can take insurance in another line of companies doing what is
called an ndustrial business, where a really larger premium is