Verhovayak Lapja, 1940. január-június (23. évfolyam, 1-26. szám)
1940-06-13 / 24. szám
Page 4 Information on Verhovay Policies Verhovayak Lapja June 13, 1940. CLASS A. POLICIES For the benefit of our members and prospective members we begin herewith a series of articles on the hinds of Verhovay insurance and the various advantages accruing from each class. Class A is the oldest and simplest form of insurance offered by the Verhovay Fraternal Insurance Association. The premiums on this form of policy must be paid during the whole life of the insured, the face value of the policy becoming due and payable only on the death of the insured. Some are under the impression that whole life insurance does not benefit the individual during his lifetime, that only the premiums are paid on it and only after the death of the insured does the beneficiary reap advantages from the death benefits received. THIS IS AN ERRONEOUS CONCEPTION! Class A insurance has wonderful advantages, related in the following statements: 1. The insurance payable during the whole life of the insured gives the person the greatest amount of protection at the lowest possible cost. 2. This form of insurance has a cash value the same as the other forms and naturally the insured can secure this cash value even during his life. .3. Even after being in force for only three years there is a paid-up value. For instance, after being in force fpr fifteen or twenty years the policy remains in force for many years more, even should the insured be unable to pay the premiums on it on account of illness or by reason of unfavorable economic conditions. On occasion, therefore, the insurance is in effect for ten or fifteen years even without the payment of monthly dues. This can be clearly understood and emphatically refutes the erroneous idea that the insured does not enjoy the advantages of a whole life policy. 4. The basis of any insurance, expressed in the simplest terms, is a compensation for loss. Consequently, it also becomes quite clear that life insurance also is nothing more or less than a compensation for the loss of our lives. The compensation thus secured is the basis of a whole life insurance, which continuously, that is, during our lifetime, gives protection in the event of the loss of our lives. The greatest majority of people desire to attain just that with life insurance and for that very reason most people choose whole life insurance. Every other form of insurance derives from this form and is based on it. Let us deal with this from another point of view also. With this insurance, for instance, we oblige ourselves to pay, let us say, $1000.00, while our far-sighted fellow members compute just how much interest they must pay for this principal. Our Table of Values give a definite answer to this question. For example: A member of the Verhovay Fraternal Insurance Association, age 35 years at present, pays $2.05 per month or $24.60 per year for a $1000.00 insurance. This constitutes 2 'A % interest on $1000.00. He is not obliged to pay anything else. In return for this 2 y2% interest, in the event of his death, his PAST The Verhovay Fraternal Insurance Association looks hack upon more than a HALF OF A CENTURY of substantial well-rounded progress. "QUALITY, SERVICE AND SAFETY, FIRST” has characterized its growth. PRESENT With over $25,000,000.00 of insurance In force, Verhovay is the largest legal reserve society of Hungarian origin since 1886. The society enjoys a high place among the finest Quality societies of the nation. FUTURE With a splendid past, a strong present position, complete life insurance service including sales plans, helpful home office cooperation, policies for all ages including children from birth and adults to age 60 the future for the society and the men who represent it is most promising. Verhovay Fraternal Insurance Association 346 FOURTH AVENUE PITTSBURGH, PA. family will receive the $1000,- 00 at once, that is, the principal. If the insured should die, let us say, within a year, in that event he has paid in only $24.60. Nevertheless, his family (beneficiary) will receive the full $1000.00. The monthlydues of a man age 40 years are $2.38 per month or $28.56 per year, that is, not quite 3% interest on the $1000.00. A 45 year old man's monthly dues are $2.84 per month or $34.08 per year, which is 3 y2% interest on $1000.00, etc" We can readily see, therefore, that the insured pays a very nominal interest for insuring that his beneficiary receive the principal from the Verhovay Fraternal Insurance Association in event of death. But even though the insured should have a lengthy life he does not pay superfluously, and to state that he does not enjoy the fruits of his payments is making an untruth, since through his payments such a reserve accumulates that it may be withdrawn either in cash or will give protection to the extent of $1000.00 in the form of extended insurance, if for any reason the insured can not pay his monthly dues for several years. Finally and in conclusion, we must mention that through the payment of a very trifling sum, the whole life insurance may be augmented with double idemnity insurance, and in the event of death, double the amount of insurance is due and payable to the beneficiaries. Let us take for example the above instances: The monthly dues of a 35 year old man are $2.05 and if he pays an additional 25 cents per month, that is, $2.30 each month, in the event of his death resulting from an accident, his beneficiaries are entitled to revive not $1000.00 but $2000.- 00. With a 40 year old man. 25 cents are added to the $2.84 dues he pays monthly, and for $3.09 a month, the beneficiaries will receive $2000.00 in the event of his accidental death, etc. Stabilizing Influence cf the Fraternal System In American Life By ALEX. O. BENZ, President Aid Association for Lutherans In the next issue we shall deal with the other classes of Verhovay policies.---------------O--------------ONE OF OUR BEST definitions of life insurance is that it puts the strength of men standing together behind the frailty of a man standing alone. Life insurance is the only institution that enables a man to create an estate instantaneously, and it is the most benevolent of the world’s business institutions. Of all the forces mustered by the Federal and the State I governments to end the most disastrous economic upheaval in our country, the least mentioned are the fraternal societies, yet no one will ever fully realize what they have accomplished during this critical period. Few will ever know what the situation might have been, had it not been for the fact that fra- i ternal societies have waged ! unceasing war against the depression along many fronts. They are, in a large part, responsible for averting what otherwise might be j economic chaos today. Withj out the bound of human [brotherhood, and the steadying influence of millions banded together, our country today would be much worse off than it is. The great power exerted by fra- I ternal societies has always, I especially in times of emer■ gency and depression, been ! used to improve human conditions. Along with their activities Jin the alleviation of economic distress, and providing for the needy, they have been : instrumental in training ’ great leaders for our economic and natural life. Today 1 there will be found men actively engaged in directing I the affairs of thousands oi I communities, a large part of whose training and experience was gained in the j local meetings of their re! spective fraternal society. Leaders in fraternal socie' ties also prove themselves {able leaders whenever the responsibilities of the com! munity, the state, or the naj tion, are entrusted to their care. Fraternal experience has stood them in good stead during the past trying years when leadership was of greatest import to prevent a breakdown of our entire social system. Then, there is the still broader sense of fraternity —the stabilizing influence j exerted by the memberships of the fraternal societies upon our people as a whole. Of the various influences which are shaping the future of America, none outside of the church, is more vital than the influence of altruistic service. Fraternalism embodies this influence. Acting as a stabilizing and steadying influence upon the cultural, social, and civic or political life of the community, the state, and the nation, it plays a most important part in building a more law-abiding citizenship, and advocates loyalty to the country and its government, which assures the safety and perpetuation of our democratic institutions of government. The fraternal societies are a veritable Gibraltar, upon which these institutions of government rest securely in a troubled nation and world. They keep hope alive in the breasts of countless men and women in days of want and distress when otherwise it might die. When hope is dead in the hearts of a people, they are ripe for communism and other “isms”, which afflict the country during times of great distress. Were it not for the stabilizing influence of fraternal societies, these “isms” would surge forward with a force that might engulf the nation, as it has engulfed other nations. They are a mighty bulwark against the inroads of communism and all that it implies. The person who honestly tries to answer the question, “Where might our country be today, after years of the worst depression in its history, had it not been for the fraternal societies all actively engaged in the conservation of our human resources?”—would be compelled to the conclusion tha t, there might be great turmoil and confusion in our fair land today instead of the brave and successful fight we are making to conquer the depression.---------------O--------------HUNGARY CELEBRATES 20 YEARS OF HORTHY An admiral without a I navy; a king without a crown. This is Nicholas Horthy, for 20 years the ruler of post-World War Hungary. The anniversary of 72- year-old Horthy’s dramatic entrance to the world scene as Hungary’s No. 1 citizen was commemorated by an issue of three new stamps. One value, pictures the regent. Another shows him cn horseback, and the third, depicts an angel ringing the bell of Liberty. This third stamp also marks the return to Hungary of Kassa, and other northern territories.---------------O----------—■ Keep your brain welloiled. The best fuel is GLEAN THOUGHTS.
