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The Board of Directors of Andenet Meredaja Edir (AME) has listened to the many requests from our members for a payout increase. After conducting its own independent studies, the Board has decided to increase the death benefit payout by 60% over the next two years.

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For the past several years, we have been paying $13,000 in death benefits. We are excited to announce that this payout will be increased to $16,000, effective July 1, 2024. A second increase will take effect on July 1, 2025, raising the payout to $19,000. By July 1, 2026, the benefit will further increase to $22,000. Each increment represents nearly a 20% increase, resulting in a total increase of 60%.

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The Board has taken the following considerations into account for this increase in the payout benefit:

 

1. The rising cost of funeral expenses

2. The higher percentage of our younger member population

3. The growing number of members

4. The continued enhancement of our reserve

5. The financial strength of AME

6. The long-term sustainability of our noble organization

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We have carefully planned these incremental growths without increasing the $25 contribution members are expected to pay upon the death of a member.

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We appreciate your continuous support and dedication to our community.