What is ‘Mormon Insurance’?
Both terms ‘mormon’ and ‘insurance’ are misnomers used together to describe a type of strategy used by affinity groups to reduce the need for commercial insurance.
Religious groups in particular have tagged this as Mormon Insurance because the early Latter Day Saint movement self-insured its congregations.
In those early times, commercial insurance and banking facilities were denied to Mormons.
So-called “saftey societies” evolved and some were called quasi- or anti-banks. They issued deposit books and tried to circulate their own banknotes. The United States government and state governments siezed these and jailed religious leaders who operated these quasi-banks. Eventually, Joseph Smith was jailed and presecuted, eventually re-arrested and martyred by a mob.
Those safety societies remaining were primarily self-insurance mechanisms. Self-insurance does not rely upon actuarial science, a discipline that applies mathematical and statistical methods to assess risk in the insurance industry. Membership in a safety society is usually based upon the affinity of the group which aggregates some resources as a hedge in times of need. When an event or experience occurs members use a form of tithe to provide money.
Unlike a mutual model, the tithe is always a fixed amount and not a general average. Furthermore, the resources that are provisioned beforehand are used for some faith-based purpose normally unrelated to the self-insured events and experiences.
In economics, the inception and operation of these models are understood in terms of the Nash Equilibrium and the problem of the pareto optimal. Nash Equilibrium models generally have a poor pareto optimal because of the non-cooperative elements or rules which an individual may change to gain advantage over the other participants. Economists would say that these models are not efficient.
Nash proposed that enforcement paradigms and participatory rules modeled to address these weaknesses move the pareto optimal towards the positive part of a scale.
Thusly, by the restriction to membership to an affinity or belief system an institution such as a religion can rely upon them as principles, and provide a system of rules whereby a choice not to observe them is merely less beneficial to the group as opposed to a countervailing negative.
Negative influences will be to the detriment of the non-cooperating participant but not the whole group.
An example is the choice to participate. It is always a benefit whereas the choice of nonparticipation requires a more expensive solution to the same problem. In the operation of the model, the choice not to tithe is available, but results in a lower or zero availability of a solution to non-cooperative participants at some future time.
Many negative choices may result in the withdrawal of opportunity to continue participation, or cause a restart of the membership at a more expensive level.
On the positive side, loss of membership by one participant will open an opportunity for a new participant. Also, delay in exercising an opportunity will require a more expensive cost of entry into the model.
Pareto optimal is realized by the group and participants when membership increases within certain limits. Also, participants of record the the time of an event or experience bear the expense of the tithe. The limitations imposed on benefits relate to the numbers of members during cycles. And, because the tithe is not relative but a fixed amount, increases in cycles require the size of membership to reach established levels.
To see this in operation, an affinity group of 50,000 members may require the aggregation of a $10 assessment to meet a cycle of $500,000. It makes no difference if the group is larger or smaller than that number of members. As the rolls expand to beyond 50,000 members the excess is distributed among the recipients of aggregates which were less than $500,000. At some time when membership increases accordingly and all past cycles have reached $500,000 in aggregate, a new cycle can be established for all future recipients, and this can become $750,000 or $1 million in this example.
Critics assert that actuarial science and a commercial insurance scheme relying upon investors can achieve the same objectives more quickly. Proponents of Mormon Insurance point to the stability of costs over time and the ability to counter inflation, loss of purchasing power and currency devaluation, aspects impossible to address economically and in advance using commercial insurance exclusively.
The middle ground in this debate is that commercial insurance in small economic units is prudent while the estate preservation concerns requiring large and expensive economic units can be eliminated altogether. The absence of tax considerations is also important since commercial insurance benfits often become the subject of tax matters.
In difficult economic times, the commercial insurance companies often do not pay against contracts or become technically insolvent. In good economic times commercial insurance solutions often prove far too expensive and require expensive and constant upgrading over time.
Self-insurance by affinity groups often never increases participation costs and looks upon a solid record of distributions over time to steadily increase their rolls. Trusting ones friends and brethren seems to be preferred to trusting strangers.
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Tags: Mormon Insurance
A $50 Value FREE when you join MWOS:
Leading to Choices is a prototype handbook with a flexible curriculum that may be adapted and customized to suit the diverse cultural, political, and socio-economic needs of women and men around the world. Designed for use in interactive workshops, the handbook includes “Guidelines for Facilitating” that enable the user to create a stimulating environment that promotes mutual respect, dialogue, and collaboration. Leading to Choices has been used in leadership training workshops in Afghanistan, Cameroon, India, Jordan, Kyrgyzstan, Lebanon, Malaysia, Morocco, Nigeria, Pakistan, Palestine, Tanzania, Turkey, Uzbekistan, and Zimbabwe. Participants have included women, young girls, and men; Muslims and Christians; and human rights activists, university students, women NGO representatives, refugees, and domestic workers, among others. (140 pages)
Leading to Choices:
A Leadership Training Handbook for Women
English Edition 0-9710922-0-6
$50.00
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MWOS Adds Whole Life from GTL
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Welcome to our Whole Life page!
* Not available in all states (See Plan Details).
| Why Whole Life? |
| Plan Details |
| About GTL |
| FAQ’s |
| Contact GTL |
The whole life insurance is issued by Guarantee Trust Life Insurance Company, home office in Glenview, IL. The product is an obligation of Guarantee Trust Life and is not insured by the FDIC and is not a guaranteed deposit. Life insurance policies contain exclusions and limitations; benefits may vary due to misstatement of age or sex. Product may not be available in all states. Forms: Policies 89WLNP and 90GBL series. Shannon Kennedy, Licensed Agent. CA License # 0D43589
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* Not available in all states (See Plan Details).
The whole life insurance is issued by Guarantee Trust Life Insurance Company, home office in Glenview, IL. The product is an obligation of Guarantee Trust Life and is not insured by the FDIC and is not a guaranteed deposit. Life insurance policies contain exclusions and limitations; benefits may vary due to misstatement of age or sex. Product may not be available in all states. Forms: Policies 89WLNP and 90GBL series.
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MWOS Partners With Mormons4Dating
Mormons4Dating is a generic platform but whether a Mormon will use the search button to seek intra-gender dating cannot be presumed. While many sites are designed specifically to prevent it, these are run by the very same companies who are promoting ”alternative” behaviors on other websites. Spend your money wisely at Mormons4Dating and stop financing behavior that goes against what you believe!
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MWOS and Expedia in affiliate agreement!
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A Free Way To Check Out Used Cars
Insurers offer buyers a new resource for uncovering vehicles’ hidden histories of theft or damage. It’s a great start, but nothing replaces a good inspection.
The National Insurance Crime Bureau has unveiled an online database into which consumers can plug — free — a vehicle identification number to learn whether a car had been stolen or badly damaged in a wreck, flood or fire.
VINCheck looks like a bargain compared with Carfax’s Vehicle History Report (single report $24.99, 10 reports $29.99, unlimited use for $34.99, reports posted free by many auto dealers online) or Experian’s AutoCheck Vehicle History Report (single report $19.99, 60-day unlimited use $24.99).
A vehicle’s history can mean life or death, says Rosemary Shahan, the president of the nonprofit Consumers for Auto Reliability and Safety, based in Sacramento, Calif. Millions of vehicles routinely are offered for sale after they’ve been cleaned up and repaired after having been declared a total loss from a crash, fire or natural disaster. A half-million cars wrecked by Hurricane Katrina, for instance, were salvaged and resold after they’d marinated in a stew of petrochemicals and bacteria, Shahan says.
“There is no way they could be made safe,” she says. That’s because crucial electronic circuits were likely damaged. A previously flooded engine could die in traffic; brakes could give out under stress; airbags could fail to deploy in a crash.
Read the full article here: Check Out Used Cars
Filed under: 8563785, Agenda, Agendas, Credit Card Website Technology, Insurance, Insurance Website Technology, Joseph Smith, Mormon Blogs Portal, Mormon Insurance, Mormon Women, Mormonism, People & Blogs, SIP; Self-Insurance Plan | Leave a Comment
Tags: 8563785, Add new tag, Car Facts, Hidden Vehicle Histories, Insurance, Insurance Website Technology, Joseph Smith, Mormon Insurance, Mormon Women, Mormonism, People & Blogs, Self-Insurance Plan, SIP, Used Cars, Vehicle History
Digitizing Books Part 2
In our recent blog [ http://tinyurl.com/6s4rav ] we told you about reCAPTCHA and that we wanted to integrate it into our new website during the MWOS 100% Internet Initiative. Please read that blog and here is the reference article about this wonderful technology: http://recaptcha.net/learnmore.html
Below is a sample and you can have some fun with it as it drives you into our new Mormon Blogs Portal. The portal is available to non-Mormons as well while we continue our efforts. Enjoy!
Clicking on either of the above icons will take you to the ever familiar WordPress login page.
If you have a WordPress blog, this page is not the same, so register first. reCAPTCHA really frees up our server resources and automatically changes everything we need changed.
Before you leave: http://www.ourbenefitcenter.com/mwos/
Please visit our NEW! MWOS GENERAL STORE
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Tags: Aggregation, Archives of the Benevolent Fund For Mormon Widows And O, Book of Mormon, CAPTCHA, Mormon Blogs Portal, MWOS General Store, reCAPTCHA, The Pickens Energy Plan, The PickensPlan is Supported by the Mormon Widows And O
A day ago a meeting went way over the time allotted. So, I researched the web and this is what is shared with readers today. It seems so simple. An agenda! Who’d of thunk?
Agendas Keep Meetings Short
Meetings could be considered a necessary evil of the everyday work life. A poorly organized meeting will not only be a huge time waster, but can also ruin your credibility with your coworkers. It is vitally important that you learn the basics of conducting a short and well organized meeting.
The single most important thing for you to do before a meeting is to develop an agenda. A meeting without an agenda is and utter chaos. Nothing will ever get resolved and the meeting will drag on forever. An agenda is like a road map to guide everyone to the correct destination. Do not even consider conducting a meeting without one.
When you are preparing your agenda, identify the aim of your meeting. Clearly state the focus of the meeting on the agenda. Then list each item to be discussed in order of importance. Give a time limit to each item and list the expected outcome. Distribute the agenda one week before the meeting. Confirm that everyone attending all the information that they need and the presenters are clear on how much time they are allotted. While circulating the agenda, state that the meeting will start on time and end on time.
A couple of hours before the meeting is to begin, send an email to everyone who is attending your meeting. State the starting time of the meeting, the location and the ending time of the meeting. This that no one will have an excuse for being late, or worse, forgetting that they have a meeting to attend.
On the meeting day, rehearse your presentation. Arrive early and confirm that everything needed is in place such as, chairs, whiteboard markers, copies of handouts, coffee etc. Try not to give all the handouts at the beginning of the meeting, as people tend to read the handouts and ignore the speakers.
The best setup for a meeting is a round table where everyone can face each other. This will encourage participation and discourage slacking or dozing off.
Start on time. Move the meeting along according to the agenda. If someone tries to derail the agenda by longwinded comments, be assertive and get the meeting back on track. Offer to meet with that person on a one to one basis if needed to keep the meeting flowing.
If an item on the agenda is not getting resolved in a timely manner, move to chair the item and plan to resolve it at another time. This will help keep the meeting moving along.
When presenting, stick to the time allotted on the agenda. Say what you need to say in short straightforward sentences. Answer questions with the shortest answer possible your point across and move on. Most people love to hear themselves talk. Resist the temptation to elaborate on every point you make just to hear the sound of your own voice.
End your meeting on time. If all of the issues are not resolved, take note and follow up at a later meeting or through personal contacts. With the right agenda, your meeting can be kept short and to the point.
Want to know more about MWOS? http://www.ourbenefitcenter.com/mwos/
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Tags: Mormon Agendas
Digitizing Books One Word at a Time
Get the whole article here: http://recaptcha.net/learnmore.html
In a small way we are helping Carnegie Mellon University to digitize the Book of Mormon, the Bible and other great books from the Internet Archive. How? We have decided to use reCAPTCHA technology on our new website very soon. Thats all it takes. You should look into it yourself.
What is it? reCAPTCHA is a play on a word for password security methods, called CAPTCHA.
A ‘CAPTCHA’ is a program that gives humans a test they can pass but computer programs cannot. For example, humans can read distorted text as the one shown below, but current computer programs can’t:
To archive human knowledge and to make information more accessible to the world, Carnegie-Mellon are digitizing physical books that were written before the computer age. The book pages are being photographically scanned, and then transformed into text using “Optical Character Recognition” (OCR).
The transformation into text is useful because scanning a book produces images, which are difficult to store on small devices, expensive to download, and cannot be searched. The problem is that OCR is not perfect.
reCAPTCHA improves the process of digitizing books by sending words that cannot be read by computers to the Web in the form of CAPTCHAs for humans to decipher.
More specifically, each word that cannot be read correctly by OCR is placed on an image and used as a CAPTCHA. This is possible because most OCR programs alert you when a word cannot be read correctly.
Those here who get the memos and over there at MWOS(dot)ORG couldn’t help noticing this exceprt from the website:
“About 60 million CAPTCHAs are solved every day, each in roughly ten seconds of human time. Individually, that’s not a lot of time, but in aggregate these little puzzles consume more than 150,000 hours of work each day. What if we could make positive use of this human effort? reCAPTCHA does exactly that by channeling the effort spent solving CAPTCHAs online into “reading” books. ”
We like aggregation. Aggregation works. It has a very ancient and wonderful power. The Mormon Widows and Orphans Society is all about aggregation a mere $10 now and then. Now if we can just find 60 million members! OK, you don’t know what we mean because you haven’t read the MWOS Charter. Oh well! http://www.ourbenefitcenter.com/mwos/
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Tags: Aggregation, Book of Mormon, CAPTCHA, reCAPTCHA
Remembering the “Mormon Wars”
Taken from the Archives of the Benevolent Fund For Mormon Widows And Orphans and published in 1913 Vol. I, p.40 and you can read the full article at our website http://mormon-widows-and-orphans-society.org
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The attack upon the Mormons in Livingston and adjoining counties by the early settlers was a war of extermination and resulted in much blood shed.
Although there are today [1913] two distinct bodies of the church, one known as the Church of Jesus Christ of Latter Day Saints and the other the Reorganized Church of Jesus Christ of Latter Day Saints, both have the same founder, Joseph Smith, who was born in Sharon, Vt., in 1805. Taken to Palmyra, N. Y., he became religiously concerned in 1820. He received “visions” from 1822 to 1827, and wrote “The Book of Mormon” in 1827. With Oliver Cowdery he was ordained priest by “an angel” in 1829; founded a church at Fayette, N. Y., in 1830; moved to Kirtland, Ohio, where he was joined by Sidney Rigdon in 1830, and Brigham Young in 1832. The presidency was established in 1833, the apostolate of twelve in 1835 and the foreign mission in 1837. A temple was built and a bank founded, but the latter proved a failure.
Another Part in Our Series of Historical Accounts taken from the Archives of the Benevolent Fund For Mormon Widows And Orphans and you can read the full article at our website http://mormon-widows-and-orphans-society.org/HistoryArchives.html
Filed under: 8563785, Insurance, Joseph Smith, Mormon Insurance, Mormon Women, Mormonism, People & Blogs, SIP; Self-Insurance Plan, Uncategorized | Leave a Comment
Tags: Archives of the Benevolent Fund For Mormon Widows And O, http://mormon-widows-and-orphans-society.org/HistoryArc, Joseph Smith, mormon, Mormon History, Mormon Wars, Mormon Widows and Orphans Society Website, Mormonism
Recent Entries
- What is ‘Mormon Insurance’?
- Women’s Leadership Manual FREE with MWOS Memberships
- MWOS Adds Whole Life from GTL
- MWOS Members/Employees Benefits Center Now OPEN!
- Expedia Last Minute Deals Appoints MWOS as Affiliate
- A free way to check out used cars
- Digitizing Books One Word at a Time
- ______An Agenda Helps Keep Meetings Short____
- Book of Mormon and other great works to be “digitized” by reCAPTCHA
- Remembering the “Mormon Wars”
- Coalition Asserts: “Fundamentally, we are Mormon!”
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