Download A Young Man’s Benefit: The Independent Order of Odd Fellows by George Emery, Herbert Emery PDF

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By George Emery, Herbert Emery

Using cliometric tools and files from six grand-lodge records, a tender Man's gain rejects the normal knowledge approximately pleasant societies and ailment coverage, arguing that IOOF hotels have been financially sound associations, have been extra effective than advertisement insurers, and met a marketplace call for headed by way of younger males who lacked possible choices to marketplace assurance, no longer older males who had an above-average chance of ailment incapacity. Emery and Emery express that many younger males joined the peculiar Fellows for affliction assurance and give up the society as soon as self-insurance - discounts - or kinfolk coverage - secondary earning from older teenagers - made it possible for them. The older males, who valued the social merits of club and didn't want the ill profit, steadily grew to become a majority and dismantled the IOOF's assurance provisions.

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Extra info for A Young Man’s Benefit: The Independent Order of Odd Fellows and Sickness Insurance in the United States and Canada, 1860-1929

Example text

Risk diversification refers to the pooling of the risks of individuals. The insurance claims in small groups may fluctuate from year to year. Thus the smaller the group, the greater the danger that high claims in one year could ruin the insurer. Conversely, the larger the insured group, the smoother the trend for sick claims. Thus a friendly society could diversify its risks by paying claims from a central fund rather than separate funds for each of its lodges. Alternatively, the society could adopt a scheme of reinsurance, whereby each lodge is partly liable for claims that the other lodges incurred.

Most of the immigrant men held unskilled, low-paying jobs and could not have af- 31 The Men Who Were Odd Fellows forded the I OOF'S price of membership. 18 Like Canadian-born Catholics, immigrant men who could afford the iOOF'S price of membership chose instead to join ethnic and Catholic societies. In 1911, for example, Ontario's insurance department licensed five Italian, one Ukrainian, one Lithuanian, thirteen Jewish, seven Canadian-francophone, and four Anglo-Irish Catholic societies for sickness insurance.

In contrast, commercial group plans commonly scaled the amount of the indemnity to the employee's income level or position in the company. 62-6; Rubinow, 1913: ch. 18). S O C I A L I N F L U E N C E S ON THE MARKET FOR S I C K N E S S I N S U R A N C E Social attitudes permeated the market at every turn. Friendly societies, for example, responded to a widespread stigma attached to recipients of charity. The secrecy of lodge affairs allowed a distressed brother to receive help without public humiliation (Burley, 1994: 69-71).

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