William Penn Life, 1985 (20. évfolyam, 1-6. szám)
1985-03-01 / 2. szám
The Reasons Why People Buy Life Insurance By Ron Abels National Sales Director Insurance creates an immediate estate regardless of the number of premiums paid. It is there when it is needed the most. Last Expense Fund — This is money needed for burial, unpaid medical bills and charges. Income to the Family Initial Dependency Period — Period covered under Social Security while two or more children are under age 16. Secondary Dependency Period — Period covered under Social Security until youngest child reaches age 16. Blackout Period — Period from time the youngest child reaches age 16 and widow’s age 60. Widow receives no income from Social Security during this period. Example: Assume a widow is age 42 when youngest child reaches age 16. This represents 18 years of no income from Social Security. Spouse’s Life Income — This is when the widow reaches age 60 (Follow Blackout Period) and Income for Life. Widow is eligible for Social Security Income at age 60. Three of the above periods are covered under Social Security with the exception of the Blackout Period. Social Security will only cover about 40% to 50% of these obligations to the family. Continued on page 6 column 3 1984 ANNUAL STATEMENT FINANCIAL REPORT ASSETS: Bonds...................................................................$57,488,436 Stocks.................................................................. 2,373,376 Mortgage Loans.................................................. 3,061,295 Real Estate.......................................................... 1,679,505 Certificate Loans.................................................. 1,966,650 Pension Assets — CKSG.................................... 1,001,351 Electronic Data Processing Equipment.............. 18,035 Cash .................................................................... 2,563,222 Premiums: Life................................................................ 27,125 Accident & Health........................................ 933 Accrued Investment Income.......................... 1,280,699 Total Admitted Assets.................................... $71,460,633 LIABILITIES, SPECIAL RESERVES AND SURPLUS CERTIFICATE RESERVES: Life, Accident & Health, Supplementary Contracts Without Life Contingencies...................55,626,718 CERTIFICATE CLAIMS: Life and Accident & Health.................................. 735,532 Refund (Dividend) Accumulations........................ 2,661,808 Provision for Refunds Payable in Following Calendar Year .................................. 125,000 Premiums Paid in Advance.................................. 611,821 Officials (Directors) Retirement Program ............ 753,321 Pension Assets — CKSG...................................... 1,001,351 Commissions, Taxes, General Expenss Due or Accrued.................................................. 102,588 Mandatory Security Valuation Reserve................ 738,640 Trust Account........................................................ 185,123 Other Liabilities.................................................. 54,629 Total Liabilities ...................................................62,596,533 Special Reserves.................................................. 46,295 Unassigned Surplus............................................ . 8,817,804 Total...................................................................$71,460,633 STATEMENT OF OPERATIONS December 31, 1984 Premiums & Annuity Considerations ....................$ 7,270,682 Considerations for Supplementary Contracts Without Life Contingencies & Refund Accumulations ...............................................161,067 Net Investment Income.......................................... . .5,935,930 Total Income.........................................................$13,367,680 Fraternal Insurance Counsellor Month to be Observed in May, 1985 Fraternal associations all across the United States and Canada, including the William Penn Association, have been requested by Peter Daly, national president of the Fraternal Congress of America, to observe the month of May, 1985 as Fraternal Insurance Counsellor Month and he urges fraternalists in the two nations to join with him in heralding the accomplishments of the Fraternal Insurance Counsellors and to note the event with appreciation and pride. President Daly explains that the organization he represents have been key builders of growth and progress experienced by the Fraternal Benefit System and had helped establish and maintain high standards of ethical conduct in the profession of Fraternal Life Underwriting. NOTICE William Penn Fraternal Association Scholarship Foundation, Inc. Annual Meeting TO: ALL MEMBERS You are hereby notified that the William Penn Fraternal Association Scholarship Foundation, Inc. will hold its Annual Membership Meeting on Friday, May 24, 1985 at 6:00 P.M. at the Hyatt Regency New Brunswick, Two Albany Street, New Brunswick, New Jersey 08901. The purpose of the meeting will be to hear reports of the Officers, elect Directors and transact other such business which may come before the meeting. All members who qualify under the By-Laws, including Branch Representatives and members of the Louis L. Varga Scholars Guild, are eligible to attend the meeting. Continued on page 10 column 3 Benefits Paid Including Dividends ........................$ 7,360,102 Employees Pension Benefits Paid.................................105,921 Officials’ Retirement Benefits Paid .................................39,932 Increase in Aggregate Reserve for Life, Accident & Health Certificates, Supplementary Contracts Without Life Contingencies and Refund Accumulations.............1,767,459 Commissions on Premiums & Annuity Considerations.............................................................671,594 General Operating Expense & Fraternal Expenses . .2,681,788 Insurance Department Taxes, Licenses & Fees ..............85,029 Total Pay Out.........................................................12,711,825 NET GAIN FROM OPERATIONS AFTER REFUNDS TO MEMBERS .................................... $ 655,850 FINANCIAL STATEMENT OF THE SCHOLARSHIP FOUNDATION As of December 31, 1984 WILLIAM PENN FRATERNAL ASSOCIATION SCHOLARSHIP FOUNDATION, INC. BALANCE AS OF DECEMBER 31, 1983 ..............$306,834.39 INCOME: Donations.............................................$19,643.19 Bond Interest.........................................28,421.55 Stock Dividends .........................................960.00 Savings Account Interest...........................931.74 Certificate of Deposits Interest.................6,009.95 TOTAL:....................................................................$ 55,965.43 DISBURSEMENTS: 2 Scholarship Grants @ $250.00 = .$ 500.00 29 Scholarship Grants @ $300.00 = . . . 8,700.00 63 Scholarship Grants @ $350.00 = . . 22,050.00 TOTAL: ....................................................................(-31,250.00) BALANCE AS OF DECEMBER 31, 1984 ..............$331,549.82 ASSETS BONDS...............................................$264,766.94 STOCK...................................................10,212.00 CERTIFICATE OF DEPOSITS .............44,114.16 SAVINGS ACCOUNT.............................11,962.35 CHECKING ACCOUNT...............................494.37 TOTAL ASSETS AS OF DECEMBER 31, 1984 . . $331,549.82 By John L. Lovász National Treasurer Pennsylvania Heritage Affairs HARRISBURG, PA - The Governor’s Heritage Affairs Commission (GHAC) and the Pennsylvania Council on the Arts (PCA) are currently accepting applications for the “Apprenticeships in Traditional Crafts” grants program for projects extending through August 31, 1986. Grants of up to $4,000 will be available to non-profit organizations supporting an apprenticeship. Proposals will be accepted until April 15, 1985. “Because of the interest in the first round of grants last fall and the potential for the program’s ongoing success, we are again soliciting craft proposals for the coming year,” said Richard Siegesmund, director of the PCA’s Craft Program. “By training a new generation of craft workers, the apprenticeship program helps to insure the continuity of traditional crafts. These crafts represent the material legacy of the diverse groups which make up Pennsylvania’s population — groups that share the same ethnic heritage, language, occupation, religion, or geographic region,” added Shalom Staub, director of the GHAC’s State Folklife Program. Masters, apprentices, or sponsoring organizations are encouraged to apply for grants supporting apprenticeships programs for any traditional craft including such forms as basketry, needlework, weaving, metalwork, pottery, wood carving, and leatherwork. The sponsoring organization serves as the vehicle to submit and process the grant proposal. The sponsor also provides a suitable site for local programs which bring the work of the apprenticeship to the public through exhibitions, workshops, demonstrations, and other events. The master craftperson must be highly skilled and knowledgeable in a particular traditional craft. Masters need not have any formal training, since most traditional crafts are learned through years of informal observation and practice in the context of family, community, or occupational group. Apprentices must have prior experience in the craft to be studied, and must demonstrate the commitment to a level of work which the apprenticeship entails. Depending on the craft, the equipment needed, and the space required, a master may train one, several, or many apprentices. The initial grant program generated widespread interest Continued on page 9 column 1 3
