Verhovayak Lapja, 1949 (32. évfolyam, 1-12. szám)
1949 / Verhovay Journal
November 16, 1949 Verhovay Journal PAGE 11 Golden wedding at Br, 163, McKeesrocks, Pa. SSHi MR. AND MRS. EDE SEROKY CELEBRATE 50TH WEDDING ANNIVERSARY Edo Seroky and his wife, the former Sophie Mraz, both members of Branch 163. McKeesrocks, Pa., celebrated their golden wedding anniversary on October 15th, in the midst of their five sons, three daughters and nine grandchildren, six of whom are members of the Association. A large host of friends and relatives presented themselves on this occasion at the home of the Serokys from where they proceeded to St. Mark’s Roman Catholic Church where they repeated the marital vows uttered 50 years ago on the day in Budapest, Hungary. Returning from the church, they found the tables set for the large gathering and the many friends of the couple overwhelmed them with their good wishes for continued happiness. Mr. Seroky, who in former years has served Branch 163 in various official capacities, was born in Krompak, Szepes county, Hungary, in 1875. Mrs. Seroky was born in 1880 in Budapest where they were married on October 15th, 1899. The members and officers of Branch 163 extend their best wishes to Mr. and Mrs. Ede Seroky for their continued happiness in the midst of their loving children and grandchildren. LEOPOLD MEIXNER, President. MICHAEL JAKAB, Manager. YOU DON’T NEED LIFE INSURANCE! (Continued from page 10) testify to the honesty of the life insurance industry. What of it ? Those fellows who tried to put something' over the insurance organization, have plenty to say and they say it loudly. Natúrally, their word should be taken against that of innumerable widows and orphans who had been instantly paid. The fellow who abuses a privilege and cries bloody murder because of the consequences, is always right, or is he ?) 2.) The insurance companies always demand your money on time, and if you are late once, out you are! (Sure, after all, a fellow can’t help it if he- finds himself short now and then. It’s true, if a man dies the beneficiary, too, will want his death benefits right away. But that’s what insurance companies are for, isn’t it? Besides, a contract is a contract and the insurer must be bound to adhere to its provisions. Of course, the member, too, is a party to the contract, binding him just as much as the insurer, but, after all, the customer is always right and the insurance organizations should be thankful to get your business. Of course, a lapsed policy is very easily reinstated. Then, too, if a policy has been in force for at least three years, it won’t be really lapsed, but extended at least for as many years, often more. And if the member should die during the extended period, his beneficiaries will receive the full death benefit as if the member had been paying his dues all the time. But that’s only fair. After all, they have plenty of money and they can easily afford to pay even if they have no other income only premiums and the returns on investments.) 3.) The insurance organizations refund only a fraction of all the dues paid if a policy is surrendered for cash. (Now you hit the nail on the head! Boy, that’s telling ’em! But it’s a fact that if a policy is surrendered for cash, the insurance organizations rarely will pay you more than a quarter, or a half at the most, of all the dues you have paid. What do they do with all the money? Of course, it’s funny, but we never expect any of our fire insurance premiums to be refunded if our home doesn’t burn down. Why? Of course, because some houses do burn down and in each case the fire insurance company has to pay the equivalent of the premiums of hundreds of policyholders to make up for the loss. Nor do we expect any of our automobile insurance premiums returned if our car had no accident. But then, some people did have accidents and in each case the costs amounted to the equivalent of the premiums of scores of policy holders. Well, come to think of it, life insurance organizations operate on the same principle. Look at the case where a fellow died one year after his admission to membership. He paid a total of twenty-five dollars and the Association had to pay his beneficiaries a thousand. That’s the equivalent of forty policy holders’ premiums. Well, it could have been me or you. And who knows, it still could happen to me or you. So — that’s where the money goes. Oh, but shucks, there are not so many cases that the death benefits would consume all of the premiums! No, by golly! But that’s why some part of the money is put in the reserve fund. And that’s available to you. And as the years go by, your PAY LOANS AND INTERESTS BEFORE NOVEMBER CLOSING — Credits For Payments Made In December Not Shown On Loan Statements Issued In January. — The Home Office suggests to all members who have loans on their membership certificates to make payments on loans and interests due thereon before the end of November rather than in December. • In the past much misunderstanding arose from the fact that the loan statements, issued by the Home Office early in January, do not show the payments made during December. Many of the members wrote to the Home Office complaining that though they had paid their interests in December, such payments had not been credited on the statements issued in January. The fact is that loan and interest payments made during December, though duly credited at the Home Office, cannot be shown on the individual loan statements. Payments made during December are remitted by the branch-managers to the Home Office toward the end of the month. These payments, as shown on the monthly reports, are credited during the remaining days of December and the first part of January. The loan ledgers, on the other hand, must be closed at the end of December in order that the loan statements may be made up and mailed to the branches in the early part of January and, therefore, payments cn loans and interests listed on the December monthly reports, cannot be credited before the closing of the loan ledgers. As a result, the loan statements reveal the account of each member as it will stand on November 30, 1949, rather than at the end of the year. It is advisable, therefore, to make all payments relative to certificate loans during November rather than in December. All such payments, if made before the 24th of the month, will be remitted by the branch-manager at the end of the month and can be credited during the early part of December. Thus, because the payments made in November can be credited in thé loan records before the closing of the year, the statements made up early in January will show the true balance of each member’s indebtedness. Payments made in December, on the other hand, cannot be credited in the loan records before the closing of the year and, as a result, they cannot be deducted from the balance shown as owed by the member on November 30th, 1949. Since it is altogether desirable that the annual loan statements show the actual indebtedness of each member, it is recommended that all such payments be made in November. If payment is made in December, the member naturally will be credited with the proper amount, but this transaction cannot be reflected in the loan statements issued in January. In all cases when loan payments are made in December, the statements mailed in January will ßhow an indebtedness from which the amount paid by the member will not have been deducted. For the reasons gji’en above this should not cause embarrassment to the members who may rest assured that all such payments will have been duly credited in the normal course of bookkeeping procedure. Inquiries should be made only if payments on loans made in November will not have been duly credited on the January loan statements. reserve will come closer and closer to the amount you have paid in premiums. Finally — your reserve will exceed the amount of your total payments. In the meantime, you will have been insured all the time for the full face amount of the policy. What you spend for fire insurance, is spent. What you pay for automobile insurance, is spent. They’ll never refund it to you. You’ll get something out of them only, if your house bums down or your car gets wrecked. But your life insurance payments will never be lost to you. If you die five, ten, fifteen years from now, your beneficiaries will receive many times more than you’ll have paid for your insurance. And if you are lucky enough to live to the date of maturity, you’ll get back every cent you ever paid, plus interest, while the protection you and your family enjoyed all through the years, was free! It didn’t cost you a cent! Not like fire, automobile, burglary or accident insurance. Boy, I guess, we put our foot in it this time. Oh well, what of it! That still leaves us plenty to beef about!) And so we arrive at the scientific conclusion that you don’t need life insurance at all. Not if you are absolutely sure of three things: 1.) that you will live to a reasonably high age, 2.) that you will be able to save by your own persistent efforts at least Five Thousand Dollars in cash and 3.) that you will be able to invest your slowly accumulating savings throughout the coming years so wisely, circumspectly and fortunately that you’ll never be in danger of losing any part of them. If you can be sure, absolutely sure of all three of the above propositions^ then you really don’t need life insurance. (Hey, what’s the phone number of our manager? Boy, I sure convinced myself that I need some more insurance!) Many romantic women yearn for the return of the good old days and the gdbd old knights. Opportunity knocks, but temptation kicks in the door.
