Young Man's Benefit: The Independent Order of Odd Fellows and Sickness Insurance in the United States and Canada, 1860-1929
McGill-Queen's Press - MQUP, Mar 10, 1999 - Business & Economics - 184 pages
Using cliometric methods and records from six grand-lodge archives, A Young Man's Benefit rejects the conventional wisdom about friendly societies and sickness insurance, arguing that IOOF lodges were financially sound institutions, were more efficient than commercial insurers, and met a market demand headed by young men who lacked alternatives to market insurance, not older men who had an above-average risk of sickness disability. Emery and Emery show that many young men joined the Odd Fellows for sickness insurance and quit the society once self-insurance - savings - or family insurance - secondary incomes from older children - made it feasible for them. The older men, who valued the social benefits of membership and did not need the sick benefit, gradually became a majority and dismantled the IOOF's insurance provisions.
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the IOOFS Market
The IOOFS Benefit System 18631931
The Financial Soundness of the Lodges 18901929
Competition in the IOOFS Insurance Market
The Percentage of Ontario Members in Arrears for Dues
1OOF Financial Statistics
F Technical Details for the Calculation of the Hazard
Other editions - View all
abolition above-average adverse selection American amount annual dues arrearage arrears for dues assets average British Columbia Canada Canadian cent commercial insurers contrast costs decline employees encampment branch estimate fraternal orders Freemasons friendly societies funds funeral benefit grand encampments grand sire group disability group insurance group plans hazard function hazard rates income Ingersoll IOOF lodges IOOFMU joiners joining fees jurisdictions Knights of Pythias labour likelihood function lodge members lodge's Manitoba market insurance members in arrears membership spell moral hazard non-beneficial number of claims Odd Fellows Ontario grand lodge Order of Foresters orphans paid parameter per-capita population premium price of membership probability of exit probability of ruin ratio statistic Rebekah relief reported reservation price revenues rising-cost pressures risk risk-loading Roman Catholic Saskatchewan self-insurance SGL'S sick benefit sickness insurance social stipulated benefit stipulated sick benefit suspended members suspension Table tion Toronto trend twenty-seven lodges unions weekly benefit workers