Verhovayak Lapja, 1944 (27. évfolyam, 1-52. szám)
1944-05-18 / 20. szám
1944 május 18 Verhovayak Lapja 5-ik oldal VALUATION REPORT Phone COurt 5430 634 Bakewell Building E. T. KtfODEL CONSULTING ACTUARY Pittsburgh, Pa. May 2, 1944 Verhovay Fraternal Insurance Association Standard Life Buildihg Pittsburgh, Pennsylvania GENTLEMEN: This is to certify that I have computed the reserves on all the life certificates for the Adult and Juvenile Departments of the Verhovay Fraternal Insurance Association which were in force on December 31, 1943, in accordance with Schedules of insurance and a financial statement presented to me for that purpose. The total reserves on certificates of the Adult Department, calculated on the American Experience Table of Mortality with interest at 3% and 4%, are $4,277,489.29. Other liabilities including contingency reserves are $54,920.00. The total mortuary fund liabilities of the Adult Department, including reserves, are $4,332,409.29. The total mortuary fund assets of the Adult Department applicable to the payment of such total liabilities' are $5,199,743.28. The above valuation indicates that on the basis of the American Experience Table of Mortality with interest at 4 and 3%%, the future assessments of the Adult Department of the Verhovay Fraternal Insurance Association at the rates now being collected, together with the now invested assets, are sufficient to meet all certificates as they mature by their terms, with a margin of safety of $867,333.99 or 20.02% over and above the statutory standards. Including all funds, except those of the Juvenile Department, I find that the unassigned funds are $1,139,195.51 over and above all liabilities and reserves. The total reserves on certificates of the Juvenile Department, calculated on the American Experience Table of Mortality with interest at 3%% are $111,405.72. Other liabilities including contingency reserves are $25,365.00. The total mortuary fund liabilities of the Juvenile Department, including reserves, are $136,770.72. The total mortuary fund assets of the Puvenile Department applicable to the payment of such total liabilities are $273,028.18. The above valuation indicates that on the basis of th<? American Experience Table of Mortality with interest at 3%%, the future assessments of the Juvenile Department of the Verhovay Fraternal Insurance Association, at the rates now being collected, together with the now invested assets, are sufficient to meet all certificates as they mature by their terms, with a margin of safety of $136.257.46 or 99.62% over and above the statutory standards. Respectively submitted. E. T. KNODEL Consulting Actuary. ANNUAL STATEMENT VERHOVAY FOR THE YEAR 1943 OF THE FRATERNAL INSURANCEASSOCIATION i—Balance Front Previous Year Payments received from members during first 12 months of benefit protection of which all or a part is used for expense ................................-.............................................. All other payments or premiums received from members Refunds applied per Item 13 (b) and (c), page 3 ...... Total Payments received ....................................................... Total received from members ............................................... Net amount received from members ......................:......... Gross interest on mortgage loans less accrued interest on mortgages acquired during the year ................... Gross interest on bonds $174,797.85 and dividends on stocks $396.50, less $3,127.60 accrued interest on bonds acquired during the year, per Schedule D .... Gross interest on liens and loans pn certificates of members ....—.................................................*................. Gross interest on deposits in trust companies and banks, per Schedule N ................................................................ Gross interest from all other sources .................................. Gross income from society’s property, including society's occupancy of its own building (less interest on incumbrances), per Schedule A ........................................ Other income from investments .......................................... Total income from investments .......................................... Sales of lodge supplies .......................................................... Trust Deposits .......................................................•................. Handling Charges on Loans .................................................. Interest—Wilson Bldg. Corp................................................... Interest—Broadway Stevens ................................................ Interest—Gary Elect, and Gas ............................................... Gross profit on sale or maturity of ledger assets, viz: Bonds per Schedule D .......-......................................... Gross increase, by adjustment, in book value of ledger assets, viz: Bonds per Schedule D (including $2362.93 for accrual of discount) ............................................... total income ........................................................... Amounts carried forward ....................................................... Adult Mortuary Fund Disability Fund Trust Fund Juvenile Mortuary Fund Expense Fund Totals $4,927,966.81$ 249,520.35 $ 68,619.58 \ $ 232,438.30$ 10,439.13 $5,488,984.17 II.IN COME 105,380.10 239,020.33 105,380.10 979,153.32 545,958.13 143,120.60 51,054.26 545.958.13 545.958.13 545.958.13 143.120.60 143.120.60 143.120.60 51.054.26 51.054.26 51.054.26 344,40043 344.400.43 344.400.43 1,084,53342 1.084.533.42 1.084.533.42 5,001.33 5,001.33 152,280.88 22,090.03 9,027.68 1,717.50 8,130.79 10.01 909.90 172,066.75 22,100.04 * * 896.40 88.17 ___ 984.57 3,649.18--------3,649.18 183,91742 9,02748 1,805.67 8,14040 909.90 57.79 203,801.87 57.79 38,060.03 873.00 2,511.16 3,780.00 750.00 11,595.31 2,362.93 38,06043 * 873.00 2,511.16 3,780.00 750.00 10,313.79 2,220.93 ' 1,281.52 115.00 27.00 749,451.83 152,148.28 39,892.70 60,591.58 346,241.12 1,348,325.51 5,677,418.64 401,668.63 108,512.28 293,029.88 356,680.25 6,837,309.68
