Verhovayak Lapja, 1949 (32. évfolyam, 1-12. szám)
1949 / Verhovay Journal
December 21, 1949 (Continued from page 10) needs. The rest of the children may or may not contribute to the care of the surviving parent, but even if they do contribute, the greatest share is borne by the child with whom the parent lives. Under such circumstances it is only fair to change the beneficiary so that either the entire death benefit or the major portion thereof be left to the child who assumed all or the major part of the responsibility. If the parent fails to do that, leaving the death benefit to be shared equally by all of the children, a great injustice will be done to the child having made the greatest sacrifices, while the other children will be rewarded for their refusal to share in the burden. UNJUST EQUALITY This happened in the case of a widow who was cared for until her death by one of her eight children. After her husband’s death the widow designated all of her eight children beneficiaries on a share and share alike basis on her One Thousand Dollar membership certificate. After she died, the daughter with whom she had made her home, found to her great shock that her mother had failed to make another change in the beneficiary clause and', as a result, the Association was obliged to distribute the death benefit between the eight children so that each one received S125.00. The daughter who provided her mother with a home, food, clothing, medical care and who finally nursed her through her last protracted illness and paid for her funeral, received the same amount as her seven brothers and sisters, none of whom ever made any contribution whatsoever toward the maintenance of their aged mother. Even though the injustice of it was perfectly obvious, the Association was powerless to change the last will of the deceased as it was registered with the Home Office in the last designation of the beneficiaries. Examples like the above, taken from actual experience, illustrate the tragic consequences that may arise from the failure to change the beneficiarieé on life insurance policies to conform to altered family relations. Changes in family status and in circumstances of dependence should be followed up without delay by changing the designations of beneficiaries on any and all life insurance contracts held by the person, or persons involved.- Verhovay Journal PAGE 11 MINORS AS BENEFICIARIES In this connection it should be pointed out also that in most instances it is an uncalled for and improper procedure for a married couple to name their minor children, instead of each other, beneficiaries on the life insurance polcies held by either or both parties. Such a procedure is justifiable only if a parent has a well-founded reason to suspect that in the event of his, or her. death the surviving parent would not assume and sonscientiously discharge his, or her, responsibilities toward their children. That such cases do exist, cannot be denied. However, it is utterly unfair to the surviving parent to designate, without just cause and merely for fallacious sentimental reasons, the minor children, instead of the husband or wife, the beneficiary of a life insurance policy. Such a procedure is tantamount to publicity branding the surviving parent an irresponsible, heartless and unlovable person. And it actually makes little difference is such judgment is somewhat qualified by designating the minor children as co-beneficiaries with their father or mother, with the provision that the surviving parent be paid half, and the children in equal, shares the other half of the death benefit. THE FROZEN' ESTATE What may happen in such instances is illustrated by the case of a widowed mother who was paid half of the death benefit due on her deceased husband’s policy while the other half, left to the minor children, was deposited in the Trust Fund to be paid to each child upon attaining the age of 21. Neither of the children needed the money at the age of 21 as much as did the mother when her husband died leaving her with only half a share of the modest death benefit and with the responsibility of providing her then little children with the daily necessities. By ‘freezing’ half of his estate, the father put an unnecessary burden upon his unfortunate wi- • dow and, at the same time, deprived his children of necessities which she would have provided for them if he had left her the entire proceeds of his life insurance contract. CHECK YOUR POLICIES The fact is that many of our members don’t even recall who the beneficiaries are on their various life insurance certificates. We suggest to our fellow-members, therefore, to check their policies and see whether or not the designation WHA T DAD MEANS At age 5 — Dad is the greatest man in the luorld. At age 15 — Dad is a dollar-machine. At age 20 — Dad is a good chap, but someiohat of a back number. At age 25 — Wonder how Dad has done it. At age 35 — Dad, what would you do about this? At age 50 — Dad always used to say — At age 60 — Dad sure was one grand guy! (— Republic National Star.) Your health From the Medical Society of the State of Pennsylvania and the Allegheny County Medical Society ACTH doesn’t mean much to most persons, but is promises to mean new life to countless thousands. * ¥ * Medical scientists and physicians have sound reason to hesitate in pronouncing any new compound as curative or even palliative. * ¥• * But from reports, to date, there has been nothing in medicine in recent times as dramatic as ACTH — short for adrenocorticotropin. * ¥ * Few, if any, remedies, have done so much so quickly for chronic disorders such as arthritis, gout, rheumatic fever, nephritis, psoriasis and muscular weakness. * * * ACTH is not a cure. • ¥ * Without continued treatment with this compound, symptoms return. * ¥ * ACTH is obtained from the pituitary glands of hogs and it requires the pituitaries from 400,000 hogs to make a pound of ACTH. * ¥ * If adequate treatment is to be given to all the sufferers who might be relieved by this compound, production of the compound must increase from five to ten thousand times the present output. * ^ % No one doubts that American ingenuity, applied to medical science, will produce the required amount of compound — if it is to be the answer to certain types of human affliction. * ¥ * Insulin, extracted from the pancreas of cattle, saved lives of many diabetics, but for a long time it was scarce. * ¥ * It took twenty-five years before scientists were able to synthesize this compound and produce it in quantity. * ¥ * Here again with ACTH. chemistry is working closely with medicine to produce in mass quantity a compound which from present indications will bring blessed relief to millions of sufferers. sjc * There is the possibility of bodily disturbances from continued use of ACTH — doctors are cautious about recommending treatment until they know it will work. ____________________ j i DO YOU KNOW? Elephants use their huge ears to fan themselves. He was about to leave for the office when his wife handed him a small parcel. “What’s this, dear?” he asked. “A bottle of hair tonic.” “That’s very nice of you, but — er —” “Oh, it’s not for you!” she replied. “It's for your typist. Her hair is coming out badly on your coat.” of the beneficiaries on each one of them still corresponds to their intentions. If it does not, we advise that a change be made without further delay, because we never know when our last hour may arrive. If in doubt, consult your branch-manager. Experience in writing life insurance and in handling death benefit claims qualify our branch managers to advise any member who, due to complications in family relations, may find it difficult to decide whom to name beneficiary in his particular circumstances. The purpose of life insurance is to guarantee the most effective help to the person most entitled to it at the time when it is most needed. If the beneficiary is not appointed accordingly, and if the designation is not changed whenever required by altered family relations and circumstances of dependence, we defeat the purpose of our own life insurance program. WHO IS YOUR BENEFICIARY?
