Verhovayak Lapja, 1950 (33. évfolyam, 1-12. szám)

1950 / Verhovay Journal

PAGE 10

HOW MUCH IS

(Continued from page 9)

their insurance. The death benefit at that time was $600, c.r the equivalent of two years’ wages.

The gradual devaluation of the dollar had started already at the turn of the century. Some ten year’s later the death benefit was increased to $1,000, but the purchasing value of that amount was the same as that of the previous death benefit. The monthly dues also were increased but still they did not represent more, nor less, than a day's wages each month.

Let’s not pretend that those men arrived at these figures by scientific methods. They had no idea about life insurance, mortality experience, life expectation, the accumulation of reserves and all the other factors that enter into actuarial computations. They neither had the knowledge, nor the tools, for building- a sound insurance organization. All they had was an honest desire for the economic protection of the survivors of deceased members. At that, they must have been pretty shrewd fellows. Considering their lack of education and experience, they had an admirable conception of what a man could afford to pay for ‘straight’ life insurance protection and of the amount a deceased worker’s survivors should have to tide them over until, they could readjust themselves to their changed circumstances. They may {lave been wrong on many counts from the mathematical and actuarial point of view, but they certainly had the right philosophy. Their formula of spending a day’s wages for insurance protection representing two years’ earnings is hard to beat even today. It still is as good a way as any to figure the basic insurance requirements of the small wage earner, even though the index of the economic value of man’s life has considerably changed since those times. I

The change seems great, inneed. The man who fifty years ago worked for a dollar a day, would receive twelve to fifteen times that amount for the same type of work today, and ■that under considerably improved working conditions. Of course, the costs of living had gone up together with the wages. As we said before: it isn’t the values that have changed, only the figures by which they are expressed. We simply talk higher figures. Instead of a dollar a day we speak of ten dollars and instead of a $300 annual income we talk of $3,000 incomes. And in their minds, the people have kept up with these changes and adjusted themselves to thinking in terms of thousands instead of hundreds. With one exception though, and that is life insurance.

ONE DAY’S WAGES

Today insurance is a scientific business. Rates are arrived at by the way of highly complex computations. Yet a study of the prevalent insurance rates of today will reveal that the basic insurance requirement of the small wage earner still may be acquired at the cost of one day’s wages a month, provided that it is acquired at the proper age of the worker.

A 25 year old worker, making $10 a day, averaging $3,000 a year, can purchase $6,000 insurance, the equivalent of two years’ earnings, for exactly the amount of one day’s wages a month, at Verhovay’s rates, on the Endowment At Age 85 plan. (Actually, he can’t right now, .because the insurance limit with the Verhovay is $5,000, but the time will come, and it shouldn’t be far,

Verhovay

LIFE WORTH?

when the limit will be raised to meet the requirements of our times.)

Thus, today’s wage earner can do | the same thing for his family his grandfather did half a century ago. He can insure the economic value of his life. He can guarantee his family that if his economic value should be lost due to death, it will be replaced at least for the period of tinié w-hich his survivors would absolutely require for developing new resources for their maintenance. And he can do that at the cost of one day’s wages a month!

He can do it, but how many do it?

THE OLD FASHIONED ONE THOUSAND

While in all other spheres of life people, have kept up with the changing- times, many of them got stuck with the old-fashioned idea that , §1,000 is “plenty of insui-ance.” It never was plenty, not even forty years ago when this amount was considered the small wage earner's minimum rather than plenty. Then $1,- 000 represented two years’ earnings for the fully employed miner, but today this amount represents only one-third of the annual earnings of the average industrial worker. And for this protection the miner of forty years ago paid the equivalent of a full day’s wages, while today’s worker pays for a $1,000 insurance policy on a much more advantageous plan the equivalent of only one to one and half an hour’s wages.

THIS ALONE IS PROOF THAT THE ONE-THOUSAND DOLLAR INSURANCE POLICY ON THE LIFE OF A BREADWINNER IS DEFINITELY OUT OF DATE!

The breadwinner who refuses to invest more than one and a half hour’s wages in life insurance on his own life, is more old-fashioned than his grandfather was who cheerfully gave up a full day’s wages for life insurance protection on a plan that had none of the advantages (loan values, non-forfeiture values, etc.,) his grandson enjoys as a policyholder in our time. Today’s worker would do no more than live up to his grandfather’s standards if he would invest one full day’s wages each month in ‘straight’ life insurance on his own life for at least Five Thousand Dollars. That, one day”s wages, is the fair price o*f the minimum obligatoryfa mily protection. Nothing less will do the job.

Friend, how much life insurance do you own? One Thousand? Two Thousand? Or are you one of those conscientious Verhovay members who have acquired a $5,000 insurance policy, the equivalent of your grandfather’s $1,000 policy?

How much do you spend for insurance protection on your own life? The wages of one, one and a half, or two hours’ work. Or are you one of those conscientious Verhovay members who invest a full day’s wages each month in the security of your loved ones?

And if you have failed up to now to live up to your grandfather’s modest standards, are you willing to admit that you are actually belittling the value of your own life? AVill you admit that by your attitude you yourself are indicating that you arc worth much less "than your family thinks you are?

Remember: the life insurance you own is the true index of your selfestimate. And people will never think more of you than you do yourself.

A gentleman is one who keeps his promises made to those who cannot enforce them.

—Elbert Hubbard

Journal

March 15, 1950

1950 BIRTHDAY GIFTS LESS THAN LAST YEAR

(Continued from page 1)

We sincerely thank every one of the 1,500 members and friends who, up to March 1st, had made a donation to this cause. Their generosity will enable the Association to extend an effectively helping hand to some truly deserving, handicapped children and to some disabled, aged members in desperate need.

The listing of the donations starts below and will be continued in the next issue. Due to the prohibitive costs of printing lists of excessive length, we are forced to apply the briefest possible method of acknowledging donations. And because it is technically impossible to put the listing in alphabetical order, it may be a little difficult for the individual donor to find his name in this comprehensive list. For this we ask the indulgence of the generous contributors.

Donations are grouped according to amounts and each donor will find his name listed somewhere in the proper group. Since the entire list cannot be published in a single issue, those not finding their names in this edition are requested to await the next issue, or issues, before making inquiries as to whether or not their donations had been received.

To save space, and thereby to reduce costs, the addresses of the donors are not shown in the listing. Whenever indicated on the gift envelope, the number of the branch of which the donor is a member, appears following the name of the donor. Where the number of the branch has not been indicated, the name of the city where the donor resides, is shown. If neither the branch number, nor the city is indicated, we use the street address for the purpose of identification.

In many instances, however, writing on the gift envelopes has been very nearly illegible. Attempts have been made to secure the correct names of the members from our membership files, but in several cases when the branch has not been indicated it was impossible to do so. In such cases we tried our best in deciphering the handwriting of the donor and if we did not succeed, ws are sorry and apologize.

BIRTHDAY GIFTS

TO THE HANDICAPPED CHILDREN’S AND DISABLED AGED MEMBERS’ FUND

$35.00: Branch 338, Warren, O.

$25.00: Albert E. Gorman, Arden Rd., Jenkinstown, Pa.

$14.00: Branch 136, Grand Rapids, Mich. (Br. 136 $10, Jos. Nogrady $2, Daniel Nagy $2).

$10.00: Alex Banyai, 58, Detroit, Mich.; Verhovay F.I.A., Br. 2, Kulpmont, Pa., Geo. Andrews, 1556 — 54th St.

$6.00: Joseph, Mary Totok, 34, Pittsburgh.

$5.00: M. Molnár, Campbell, O., Anna Lengyel, 48, N. Y., Jos. Toth, 27, Toledo, Helen Mazalin, 64, Canton, L. Novak, 30, Elizabeth, Ferenc Gondor, 48, N. Y., Jos. Varga, 45, Cleveland, J. Pogány, 36, Detroit, Helen Nemeth, Pt. Hazleton, Pa., Br. 163, McIveesRocks, Pa., Hon. Harold H. Burton, Br. 14,. U.S. Supreme Court, Washington, D. C., Mrs. J. Hovancsek, Broadview, Br. 129, Columbus, 0., Verhovay Home, J. Partus, 163, McKeesRocks, Geo. Szopko, 48, New York, Louis Balogh, 45, Cleveland, S. J. Matasy, 21, Youngstown, O., Bert Erdély, 37, Chicago, 111., Geo. Tegzes, 172, Leechburg, Mrs. E. T. Knodel, Pittsburgh, Rev. Dr. Béla Bütykös, 443, Detroit, Jos. Horvath, St. Louis (?), Steve Soltész, Racine, Jos. S. Taylor, 383, Buffalo, John Mészáros, 36, Detroit, Frank Szabó, Charles Pirkhoffev, J. Kaszas, 48, New York, Anton Lachman, 342, Chicago, Ethel Segesdy, 98, Bethlehem, Alex Kaszonyi, 76, Phiia., Mrs. Chas. Segesdy, 98, Betlehem, Frank Lengyel, 220, Conneaut, 0., Frank J. Wukovits, 132, South Bend, Ind., Mrs. J. Vincze, 335, Amherst, G., Dr. Andrew Kovács, 45, Cleveland, Jos. H. Prince, M.D., 362, Dayton, O., Kalman Feher, 90, Allentown, Steve Fuzie, 59, New Y'ork, Vincze Farkas, 107, Elyria, O., American Hung. Relief, Inc., Rev. Stephen Bali, 511, Detroit, Mich., László Jody, 45, Cleveland, Andrew Sari, 127, Joliet, 111.

Branch 96, Chicago, ill., Stephen J. Szabó, 108, Youngstown, O., Branch 21, Youngstown, O., Mrs. Irene Rhodes, 39, Beaver Fails; Pa., Joseph Szilvasy, 338, Warren, 0., Jos. Soltész, Jr.. Br. 208, Filbert, W. Va.. Emery Petriko, 74, Chicago, Michifi Mihalo, 219, Paoli, Pa.. Msgr. Sabo, 132, South Bend, Ind., Nicholas Dudás, 164, Chicago, Andrew Ban, 138, Gary, Ind., Br. 49, Aurora,

111., Mary Stransky, 76, Philadelphia, Pa., Chas. Kish, 130, East Chicago, Ind., Ben Schwartz, 138, Gary, Ind., Anton Botos, 525, Reseda, Calif., Joseph Király, 48, New York, Br. 64, Canton. O.

$4.00: Branch 53, Bradley, 0.

$3.00: Joseph Nagy, 130, East Chicago, Mrs. Fedor, 14, Cleveland, Louis Cserney, 194, Perrysburg, O., Wm. C. Kohut, 430, — Gabor Takacs, 45.

Joe Angi, 705 E. Chicago Ave., Mrs. Jos. Horvath, 108, Lockwood, O,, Frank Demeter, 48, N. Y., Stephen A. Kocsis, 239, Stamford, Conn., Mrs. Peter and Stephen Szabó, 20, Fail-port Harbor, O., John Nemeth, 14, Cleveland, John-Rose Szász, 36, Detroit.

S2.50: Robert Zubor, 164.

$2.00: Steve Benső, 14 — M. Yarabik, 108 — Mich. Toth, Paine Ave., Mrs. Alex Puskas, 67, Gustav Szalmay, N.Y.C., Bert. Vass, 249. — Alex Ver, 366, Geo. Balasko, 108, Gergely Domonkos, 27, Steve Mandzak. 48. Julius Molnár, 34, Mary Mikula, 48, Gizella Kovács, 48, Rev. Reveterics, Betlehem, Bert Ballo, 54, Nick Kotta, 104, Louis Smith, Pittsburgh, Pa., Alex Pavel, 59, Nick Bodnar, 303, Arthur Stumpf, 68, John Bago, 45, J. Szentgyörgyi, N. Brad dock, Pa., Paul Schmidt, 204, Michael Kopcso, 364, Paul Schmidt, Jr., 204, John A. Vargo, 14, John Varkonyi, Weirton, W. Va., Louis Kish, 429, Jos. A. De Both, 89, Anton Esterhay, 20, Jos. Urban, 76, Martin Gutoski, 48, Viola Palkovacs, 362, Bachstaedter, 80th St., 48, Jos. Mate, 36, Mrs. Horvath, 45. Jos. Juhasz, 273, Mrs. S. Rosta, 443, Emery Botos, M19 (533), Mr., Mrs. Steve, Avon, O., 17, John Wilson, 36, Eleanore Gal, 8, Marg. Soltész, 341,. Geo. Karaisz, 67, Louis Nemeth, 108, Thos. W. Boyce, 369, Emerick Ellish, 174-. Marg. Varga, 417, H. Weitzel, 111, Mrs. A. Bognár, 121, Mr., Mrs. Cene, 21. John Titko, 261, Gaspar Kuti, 278, Andrew Toth, 12, John Maiker, 48, Emil Malaesiss, 39, Mich. Rigo, 108, John Lasztoczy, 48, Frank Sándor, 14, Jos. Nagy, 511, Mrs. L.

(Continued on page 11)