Verhovayak Lapja, 1944 (27. évfolyam, 1-52. szám)
1944 / Verhovay Journal
December 27, 1944 VeYhovay Journal Page t INTRODUCING THE NEW RATE BOOK It was announced previously, on repeated occasions, that the Verhovay F. I. Association will change from a 3V2% interest rate to the 3% interest rate in the computation of the reserves maintained upon the membership certificates, effective January 1st, 1945. We also announced that this change involves a change in the rates of dues payable on the membership certificates as the reduction of the interest earned on the reserves necessitates an increase in the monthly dues. In the article “HERE IS YOUR LAST CHANCE”, appearing in the November 9th, 1944, issue of the Journal, we applealed to all managers and organizers to make good use of the old rate books during the remaining weeks of the year, because up to the end of the year 1944 certificates may be purchased for lower rates than will be in effect after January 1, 1945. We are glad to state that many managers and organizers heeded this appeal as will be seen from the December report on new certificates issued. By this time all branchmanagers and organizers have received the new Rate Published too late The rate-book, rightfully, should have been in the hands of the managers and organizers at the beginning of the last month, since there are many applicants who sign their application with the understanding that the certificate to be issued shall be dated as of the first day of the following month. Circumstances entirely beyond our control have made it impossible to furnish our managers and organizers with the new Rate Book at an earlier date. We all know how war-time conditions affect every enterprise and the publication of the new Rate-Book was no exception. It took more time for the! overworked actuary to pre-1 pare the various lists of j rates. It took more time for1 the overworked printer to compose the tables, to get the! necessary amount of paper and to complete the printing of the book. Since months the material was in the hands of I the printer, yet it took all powers of persuasion on part of our Supreme Secretary to have him complete the job before the end of the year. Rate-book incomplete Book. For their information, and that of the entire membership, it appears necessary to offer some explanations concerning the make-up, the publication and the use of the new rate-book. Due to the pressure of work the actuary was unable to complete the tables which in their present form contain the rates up to the age of 55 only. The Association accepts members up to the age of 60 in some classes but the rate- Í SEEINQ AND ASKING? By Paratrooper Pvt. JOSEPH S. PAPP, Jr. Mevtiber, Chicago Branch 503 My buddy died in my arms today, I feel his warm blood, yet Your neighbor’s boy gave out a scream That I will never forget. On my right a tank was hit, There was a flash and a fire, The singe of burning flesh still rises From the awful pyre. What did you do today, my friends, To help us with our task? Did you work harder and longer For a little less? Or is that of me to ask? What right have I to ask you? This you’ll probably ask. Maybe now you will understand — Ycu see I died today. * * * This poem was written by Pvt. Joseph S. Papp, Jr., who served with the 504th Paratroop Regiment, attached to the 82nd Airborne Division. Joe was with his group when it spearheaded the invasion in Sicily, at Salerno, at the Volturno River, at Cassino, at Venefro and at Rome. Pvt. Papp wrote this poem under fire on the Anzio beachhead, when his division made the assault in February, 1944. A brief report of Papp's overseas service was published in our Journal on October 12, 1944, when we also made mention that, among other citations, he wears the Order of the Jurple Heart and the Presidential Citation for Salerno and Cassino. book contains no [rates for the last 5 age-groups. As soon as the tables for the last 5 age,groups—from age 55 to 60—will be completed, the managers and organizers shall be supplied with the additional sheets. The Association always issued two types of rate-books. One contained the rates only, while the other, called the “Table of Values”, contained the various non-forfeiture values also. The “table of values” has not been completed up to this date. Immediately upon completion the tables will be printed and sent to the managers and organizers. Naturally, until then the managers and organizers will be unable to inform applicants as to the non-forfeiture values of certificates for which they apply. The old Table of Values cannot be referred to, for the change in the rates involves a change in the nonforfeiture values. We can say that much now: due to the increase in the amount of the monthly dues, there will be a corresponding increase in the non-forfeiture values (cashsurrender, loan, paid up, etc.) of the certificates issued after January 1st, 1945. These values will be higher after January 1st, 1945 than those shown in the old rate-book. Provisory, arrangement It follows that the new Rate-Book is only a provisory arrangement. Due to wartime conditions it wa§ impossible to furnish our managers with 'the complete tables though the preparations have been started more than a .year ago. We have to do the best with what we have—for the present, until the Table of Values and the full Rate-Book can be completed. Naturally, the question arises, what to do with a prospect who is between the ages of 55 and 60. The answer is, to our sincere regret, that the manager and organizer can give such a prosp„ect only an approximate idea as to how much his dues will be. The method of how to figure the approximate amount of dues to be paid, will be described below. There can only be a deviation of a few cents more or less, that should make no difference to the prospect. Upon request, the Home Office will inform trie prospect or the manager as to the exact amount of dues to be paid which is indicated on the certificates issued anyhow. The change in the rates The change in the rates varies with the different classes of certificates issued by the Association. The rates of the Class “A”, “Whole Life” certificate have suffered the smallest change which amounts to not more than 7 and not le:s than 4 cents in the various agegroups. The change in the rates of the Class “B”, Twenty Payment Life certificates is some what higher and amounts to not more than 27 cents and not less than 24 cents in anyone age-group. (For instance: the monthly dues for this certificate were up to now $1.97 at age 16. After Jan. 1945 the rate will be $2.22 at the same age. It was $2.08 at the age of 20 and will be $2.34 from now on, It was $2.29 at the age of 40, and is now $3.26, etc.) The increase in the rates of the Class “C”, _ Twenty Year Endowment certificate amounts to 18 cent at the age of 16, and the increase shrinks gradua'ly to ' 11 cents at the age of 55. The former rate for this certificate was $3.67 at the age cf 16, while the new rale is $3X5, while the figures image 55 are $-1.52 and 4.6? respectively. It is .easy to make a nearh perfect estimate on the basis cf the figures analysed above. A'l the manager has to do, when approaching a prospect who is between 55 and 60. is to add not more than 7 cents to the old rates if a Class “A” certificate T suggested, or 27—23 cent: if a Class “B” certificate is applied for, or 11 cents if the object is the sa’e of a Class “C” certificate, and he can’t go wrong. Cf course, he should explain to the prospect that the rate given is only an estimate but that the difference, if any, should not amount to more than a few cents. Juvenile Certificates It is understood that the rates of the juvenile TERM certificates have not been increased. They remain 15 cents monthly in Class “A” and 25 cents in Class “B”. But the rates of the juvenile Ordinary certificates have been increased in the same manner as in the Senior Department. The increase is the greatest in the “H-J' class, (Endowment at age 18), in which the month ) dues have beeh raised b) 37—38 cents on the average The increase in the othei classes corresponds with the increase shown in the rate of the Senior Department. Sales on old rates possible It is important to note that certificates issued afte January 1st. 1945, but datec December 1st, 1944. are sold at the old, lower rates. Sup pose you have a prospect age 1, for a J-H certificate If the certificate is predated that is, the first month’: dues are applied to Decern ber, then the monthly rate for that certificate will be only $3.74 If, however, thf prospective member’s parents insist that the cer: tificate be dated ks ol January, 1945, then the new j rates apply and the monthl;-dues will amount to $4.11. Í j The same applies to an) I other type of certificate i Now, in case a certificate i applied for on a limited payment plan, it is obvioUy i. the best interest of the ap plicant to have the cei tificate dated as of Decern ber 1944, instead Januar) 1945. A Twenty Year Er. dowment or a Twenty Pa) ment Life certificate call i for the payment of 24 ! monthly dues, no matte when the certificate ;• issued. If a 20 year oli j prospect applies for a $l,00i j Twenty Year Endowmen he will have to pay $3.6 for 240 months, if the cei tificate is dated from Decern ber, or $3.86 for 240 month. if the certificate is date, January 1st, 1945. The tota difference in the amoun paid in is $40.80, in twent years. So why not pay th dues for the month of De cember AND January at th time the application i signed and have the certificate dated as of Decembe 1944, instead January. 1945. ! It is a good idea to ex plain this possibility to ever) prospect who will nearly always see the advisability oi having his certificate predated. This procedure ma) be followed during the nexi few weeks, as it is perfectly legal to do so. New forms of certificates In order to avoid mi: indem landings we take th ppertunity to announc hat in the near future tt ertificates will change i heir form. The text printe m the certificates will 1 nore simple and also short nd the form of the ce rficates will be me nedern, a little bit on tl streamlined” side. We a ertain that the new cer (Continued on Page C)
