Fraternity-Testvériség, 1958 (36. évfolyam, 1-11. szám)
1958-02-01 / 2. szám
14 FRATERNITY INSURANCE COUNSELLING By László L. Eszenyi Uunder this heading we formerly introduced our new insurance plans and tried to give some practical advice on how to select the adequate plan and in a sufficient amount comparable to the specific situation of the prospective members. In the following few paragraphs we are going to point out some rights held by our members and explain the procedures to be followed in order to obtain full enjoyment of these rights. DEATH BENEFITS The death benefit is the indispensable element of every insurance contract; paradoxically enough, it is the only one hardly any member will ever “enjoy”. On this line our advice is, consequently, directed rather to the family members or beneficiaries of the deceased and our aim is to instruct them on how to avoid mistakes along the claim procedure which necessarily cause delay in remittance of the benefits. Upon the death of a member, the case must be reported to the Division of Vital Statistics of the respective State Public Health Department, and several copies of the death certificate have to be obtained. Whoever makes this report should be certain about the correct age of the deceased. If the exact date of birth cannot be assured by the relatives or friends, kindly contact our home office where the data is recorded as given by the late member in his application for membership. Carelessly given or estimated data will cause trouble while death benefits are being computed. Namely, if a member mis-stated his age at the time when his certificate was issued, the amount of benefit will be such as the monthly rate would have purchased at the correct age. Or, as expressed in plain language, if somebody turns out to be older according to his death certificate than stated in his original application for life insurance, then a proportionate amount will be deducted. And a deduction usually hurts. The death and membership certificates should be turned over to the local branch manager who forwads same to the Auditor’s office for remittance. At the same time the manager should be informed as to whether the beneficiaries indicated in the certificate are living or not and if they are of full age. We cannot pay benefits to minors; their shares will be placed in our Orphan’s Deposit Fund and remitted only upon receipt of evidence of reaching majority. Naturally, every indebtedness (liens, loans, etc.) will be deducted from the benefit before remittance. Since such kind of indebtedness is clearly shown on every certificate in an endorsement form, few inquiries occur in connection with this. We receive more protests against withholding dues in arrears on the certificate of the late member. Somehow, people consider such action as petty-minded or even irreverent to their deceased beloved ones. We hereby recommend one proper way to avoid this: pay arrearages to the branch manager when certificate is presented.
