Fraternity-Testvériség, 1983 (61. évfolyam, 1-4. szám)
1983-04-01 / 2. szám
FRATERNITY Page 3 The President’s Report of 1982 Distinguished Members of the Board: Dear Brethren: The motto of the National Fraternal Congress in 1982 was — “Promote Fraternalism Through Change.” Our Federation — although under unfavorable conditions — was motivated by this call. Being fully aware of the truth that any institution can be revitalized only on the principles on which it was built, the Board of Directors initiated long overdue, far-reaching and significant changes. At the April, 1982 meeting important resolutions were passed. All of them were put into motion during the course of the year. NEW COMENSATION - based on PREMIUM INCOME The Field Force Committee had noted that the methods of compensation for selling policies was very varied. A new system was worked out by our actuaries, CPS Actuary, Stamford, CT and the committee, which was accepted by the Board of Directors. This system compensates by percent of premium written over a period of five years. It is better than average when compared with other fráternak. Thus we hope to secure the continuous services of our old agents and hope to be able to recruit new full and part-time agents. PORTFOLIO UPDATE The Accidental Death Benefit Rider was declared paid-up after the 20th annual premium has been paid. The NON-MEDICAL limits have been raised and such policies are already being sold by agents and branch managers. The issue age has been increased to 70 and now persons from 66 to 70 years of age can purchase non-medical insurance. WHOLE LIFE coverage for ages 66-70 have been determined. Many of our older members have only $500 insurance and as our field and branch managers remind them of the new age limit, they can have more coverage. Action will be taken at the April Board meeting on the following: SINGLE PREMIUM PLAN - a single premium payment which can be given as a gift by grandparents, aunt or uncles. This policy can be converted to any permanent plan. TERM to AGE 25 — With annual premiums rather than a single premium. The plan would include the opportunity to convert to permanent insurance at age 25 regardless of the insured’s state of health. CERTIFICATE — to present to the parents of new-born babies, indicating that the child is “insured” for six months. There is no cost to the parents, it is merely a way of showing our joy whenever a family is blessed with new life. COMPUTERIZATION OF HOME OFFICE The branch managers were very helpful in searching for the addresses of their members. IID, Inc. of Washington, D.C., has put on tape more than 19,000 names and addresses already. The corrections are nearly completed and it is hoped that the branch reports will be available on computer printout within a few months. None of this would have been possible without the dedicated work of our branch managers. Thank you, everyone! REVITALIZATION OF FIELD FORCE With the appointment of Field Force Coordinators, the recruiting and instruction of new field force personel began. William Puskas is in charge of promotional and fraternal activities in the states of NY, NJ, eastern PA, MD and CT. Western PA is under the care of Joseph Molnár, Jr. László Kernes is responsible for OH. Director Charles Modory offered his services in IL, IN, and surrounding areas. These persons will also assist the branch managers to become more active agents. With a new compensation system and with our enlarged portfolio, we began searching for new workers. We offer the top compensation of any fraternal society. We offer training and seminars; we are searching with ads in newspapers and ads in church bulletins. Our organization is a fraternal benefit society, primarily but not exclusively interested in the market that is being offered by the Hungarian- American community. The job of our field force includes fraternal responsibilities as well as selling and servicing life insurance. We are offering employment on full or part-time basis. It should be possible for our Federation to evolve from the old system to the new without sacrificing any aspect of the fraternal side. Building a fraternal field force is the most important task toward which we laid significant ground work in 1982.
