^T 



THE I. A. A. RECORD 



Page Eleven 



iford 



I. A. A. Organizes New 

 Life Insurance Service for 



Bureau Members 



More Than 95 Per Cent of County Or- 

 ganizations Endorse Project 

 AFTER two years of careful investi- 

 ^ gation the I. A. A. has completed 

 plans for a life insurance company. 

 The project was discussed at two an- 

 nual meetings of the Association, 

 namely at Peoria in 1927 and at Rock 

 Island in 1928. The Rock Island 

 meeting authorized the Association to 

 proceed with the project when 60 per 

 cent of the County Farm Bureau ex- 

 ecutive committees had approved it. 

 To date 95 per cent of the Farm Bu- 

 reaus have endorsed the project. Plans 

 for the new company were unanimous- 

 ly approved at a meeting of the Farm 

 Bureau presidents held at Decatur on 

 September 28. 



The plan, briefly, provides for the 

 formation of a legal reserve life in- 

 surance company with capital and sur- 

 plus of $125,000. 



There will be a first special partici- 

 pating ordinary whole life policy. It 

 will not only participate in the mor- 

 tuary savings and interest earnings, 

 but in addition it will participate in 

 the profits of the company on an equal 

 basis with a share of stock in the life 

 insurance company, based on the 

 premiums paid in for insurance. This 

 policy will be issued for a limited 

 length of time only and is offered to 

 Farm Bureau members and members 

 of their immediate family. 



Cost of Insurance 



The premium for the insurance is 

 approximately 5 per cent less than 

 the most favorable of the large com- 

 panies in the field. The tentative rate 

 at age 35 is $21.63 and age 50, 

 $39.35. Insurance will be written 

 up to age 70. 



Twelve million dollars is the prob- 

 able limit in amount for the first spe- 

 cial policy. If an amount in excess of 

 this is secured it will be pro-rated 

 among the members in the respective 

 counties based on quota for county. 



The limit of insurance for any in- 

 dividual on the first special policy is 

 $5,000. 



After the first special policy is dis- 

 continued there will be a full line of 

 policies issued, both participating and 

 non-participating. 



The life insurance company will be 

 controlled by the I. A. A. An inten- 

 sive survey is being made at the pres- 

 ent time as to the interest of Farm 

 Bureau members in having their own 

 life insurance company. A sufficient 

 amount of insurance of the first spe- 

 cial policy must be secured in a rea- 

 sonable time or the whole project will 

 be postponed indefinitely. 



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CONVINCING 

 ANOTHER 



EXPERIENCE has taught me 

 that the way to convince an- 

 other is to state your case modef 

 ately and accurately, and then 

 scratch your head or shake it a 

 httle, and say that, that is the way 

 it seems to you, but that you of 

 course may be mistaken about it; 

 which causes your Hstener to re- 

 ceive what you say, and as Uke as 

 not turn about and try to convince 

 you of it since you are in doubt; 

 but if you go at him with a tone of 

 positiveness and arrogance you 

 only make an opponent of him. — 

 Benjamin Fran}^in. 



t»^ 



■■.■■■.■■«J 



Every Farm Bureau member who is 

 interested in providing, at a substan- 

 tial saving in cost, a real life insur- 

 ance service for himself and his fam- 

 ily as well as for future generations 

 should become a charter member. 



A Great Benefit 



WHEN Ralph Overholser of 

 Whiteside county lost a 

 heifer shortly after its arrival 

 with a carload of others from St. 

 Paul, he tried to get a settlement 

 from the railroad by appealing 

 to the local agent but failed. 



Then he referred the claim to 

 the I. A. A. Transportation De- 

 partment, after he had almost re- 

 signed to take the loss and let 

 the matter drop. By appealing 

 to the proper authorities, the As- 

 sociation secured prompt action 

 and a short time ago sent Mr. 

 Overholser a check for $50. 

 This service is free to Farm Bu- 

 reau members. 



/. A. A. Transportation Dept. 



Received your letter and money for 

 that heifer. 



The Farm Bureau and all it is do- 

 inE is a great benefit to the farmers, 

 if they only make use of it. We ought 

 to stick closer together. 



I want to thank the Association for 

 its help in getting this money. Maybe 

 you have a bill for this. If so, send it to 

 me. It is enough to pay my dues for 

 three years in our county organization. 



RALPH OVERHOLSER. 

 Whiteside County. 



Minnesota Bureau " 



Against Crippling 

 j Prison Industries 



Mtl^ufacturers Would Abolish Twine and 

 Farm Implement Making By Convicts 



THE Minnesota State Farm Bureau 

 will oppose a movement in the 

 next legislature on the part of north- 

 west farm equipment manufacturers 

 to stop the manufacture of twine and 

 farm equipment in the state prison. 



The secretary of the Northwest 

 Farm Equipment Association has been 

 carrying on a campaign through the 

 orgianization's oflficial paper against 

 the prison industry claiming that he is 

 making a fight for the taxpayers of 

 the state. The Farm Bureau contends 

 that the machinery manufacturers, on 

 the other hand, are fighting only in 

 the interest of their own business and 

 to the detriment of the majority of 

 Minnesota taxpayers. 



Save Farmers Money 



The state prison industries, it is 

 claimed, have saved the farmers of the 

 northwest close to $20,000,000 in 

 prices payed for twine and farm ma- 

 chinery, and several times that amount 

 indirectly by acting as a price leveler 

 in the twine and machinery business. 

 As, proof that farmers rather than 

 farm manufacturers need help, the 

 Farm Bureau points to the fact that 

 Intfernational Harvester Company 

 stock of par value $100 is now selling 

 at more than $300 a share on the New 

 York Stock Exchange and that the 

 company has reserves in cash securi- 

 ties of over $200,000,000. 

 A Great Benefit 



The Farm Bureau claims that not 

 only are the prison industries of bene- 

 fit to farmers of the northwest, but 

 the- prisoners are helping support 

 themselves, thus relieving taxpayers 

 of the state from a large burden. The 

 State Farm Bureau will oppose any 

 attempt in the next legislature to 

 cripple the prison industries that will 

 tend to raise appropriations for the 

 penal institutions. 



THE Illinois Agricultural Associa- 

 tion is not opposed to the con- 

 servation of natural resources, nor a 

 state system of fish and game pre- 

 serves. It is opposed to a $20,000,000 

 bond issue which to all indications 

 must be paid out of the g^eneral taxes 

 collected by the state. 



The proposed $20,000,000 bond 

 issue will cost approximately $16,000,- 

 000 in interest charges alone at 4 per 

 cent if paid off over a period of 30 

 years on an amortized basis. A pay- 

 as-you-go plan is far more economical. 

 Keep this in mind when you vote on 

 the proposition Nov. 6. 



^he Farm Bureau is a business or- 

 ganization for prosrr^ssive farmers. 



