Református ujság - Fraternity-Testvériség, 1940 (18. évfolyam, 1-12. szám)
1940-12-01 / 12. szám
TESTVÉRISÉG 19 “AN INHERITANCE DEAR TO US” An address delivered by JOHN SIMON Federation Meeting held in Akron, Ohio. I believe that all of you have heard of the Hungarian Reformed Federation of America — many of you are probably members of it — but in order that everyone get a better understanding of how it functions in Magyar-American life, and more specifically in the lives of our youth, I am here to elaborate on it. Since our Federation is first of all concerned with insurance, we must have a clear concept of its meaning. Initially, insurance is a guarantee against loss by a contingent event, on certain stipulated conditions at a given rate or premium. Of course there are many kinds of Insurance: life, fire, theft, accident, automobile etc. Anything from a finger to a favorite pet or camera can be insured against any eventuality. The Federation is interested only in life insurance and its many subordinate parts. What is the value of life insurance? Most people buy life insurance merely as protection, that is to have money sufficient to cover burial expenses in case of death, pay minor bills and have a little left over. Another value of it however is to save money. By purchasing certain forms of life insurance and making periodic payments-you will collect your principal with interest as thougbg it were a savings account with the added protection that in case of death or other eventuality, as stipulated-you collect the entire amount contracted for, before you have paid the full amount in. When you are ready to choose a company for the purpose of buying life insurance then, there are a number of factors, which you will consider. Do you want the insurance protection, savings or invesment? What will be the cash surrender value of your policy? How will the amount of the premiums compare? Is the company strong i. e.—well organized and supervised? I shall roughly compare the Federation with other companies on these points. The Federation sells certificates for protection, savings, and investment only in the life insurance field as do other Life insurance companies. On comparing similar policies you will find that the Federation will give you lower premiums, with a greater cash surrender value than any other company. There are a number of reasons for this. First of all, the Federation does not have well paid agents who collect your premiums every month and make an excellent living of it. The local branches are organized as church societies. Secondly, it does not maintain offices all over the country to drain its Jr. of Leechburg, Pa. at the Bethlen Youth treasury and make premiums higher. Third, it does not have high salaried officers who get bonuses of hundreds of thousands of dollars per year to raise premium rates. Fourth, the Federation is chartered by the United Stats Congress. The Federation is completely supervised by federal and state insurance officials. It must conform to all laws regulating any other insurance company as to the sums of money it must have in reserve, and how and in what types of property it can invest its money. The supervision is rigid. The Federation is as sound as any comparable insurance company and it would not be making an extravagant claim to say that it is stronger. Money collected by other insurance companies is actually taken away from us as a group, going into the hands of people who are not interested in our particular problems. Money collected by our Federation actually remains our own. Witness the activities in which it takes part in our interest that no other company would do: The Orphans Home and the Home for Aged at Ligonier about which all of you are familiar, the sponsoring of contests which have kiven some of you free trips to Europe. Alany of you who have attended the colleges and universities have been materially assisted by Federation by its scholarship funds. The Federation purchases a full page of advertising in our own church paper which eases the financial burden in getting it published. Te organizations of which you are a part are assisted by the Federation. This and many other altruistic attitudes of our Federation which is expressed to us concretely should more than convince us that it is working in our best interests and as a descendent of Magyar parents you and I have no choice but to choose the Federation for our insurance. Within the Federation all of us are in common ground about the tree of our Alagyar tradition 1000 years old. In conclusion I have to emphasize that the Hungarian Reformed Federation of America is a dear inheritance to us from our parents, which, not only for the many benefits and valuable service it renders, but just as well for sentimental reasons, must be esteemed at the highest rank by us amongst our American institutions. By patronizing it and working for it we render a good service for ourselves. Therefore, we have never let it to be weakened by indifference on our part, but we have to feel that it is our sacred duty to make it stronger and stronger for us and for the future generations of the American Hungarian people.
