William Penn Life, 1988 (23. évfolyam, 1-12. szám)

1988-11-01 / 11. szám

November 1988, William Penn Life, Page 5

Juvenile plans provide security for your child

NSURING $ECURING

How Our Products & Services Work For You - Part 1

(The William Penn offers a wide range of insurance and savings plans that help provide our members with security and financial stability. In order to educate our members on all the products and services the Association offers, the William Penn Life will publish a series of articles, entitled "Insuring & Securing," explaining each product in detail. A different product or service will be featured each month, beginning with this month’s first installment on our plans for juveniles to age 25.)

Your child is the most precious person in the world to you, and the William Penn offers you two ways to provide financial security for your child for both today and tomorrow.

Our Juvenile Term to Age 25 and Yearly Renewable Term to Age 25 plans provide valuable life insurance benefits while giving your child a solid start toward financial security — all for only $25 a year or a low one-time premium.

Either plan provides $10,000

of life insurance which can be converted to $10,000 of adult life insurance when your child reaches age 25. When converted to an adult plan, the policy can take on regular cash and loan values.

As our gift to you, we will give your child an extra $10,000 of insurance coverage at no additional cost to you. This additional $ 10,000 can also be converted at age 25.

In other words, while you pay for $10,000 of coverage, your child will actually be covered for $20,000 of insurance up to age 25.

Children from ages 0 to 21 are eligible to receive coverage under either plan. The Yearly Renewable Term to Age 25 plan costs only $25 a year. The Juvenile Term to Age 25 plan protects your child for a small one-time premium. The older your child, the smaller the premium.

While your child is protected under these plans, he or she earns valuable conversion credits which

can be used to purchase an adult life insurance plan when your child attains age 25.

If you purchase $10,000 of coverage under a Juvenile Term to Age 25 plan now, your child will earn a conversion credit equal to 50 percent of the single premium. For example, if your child is now age 10, your single premium is $231.10. At age 25 your child could apply 50 percent of that, or $115.55, towards an adult policy.

On the other hand, if you decide to buy $10,000 of coverage under a Yearly Renewable Term to Age 25 plan, your child

will earn a conversion credit of $ 10 for each year from now until he or she attains age 25. For example, if your child is now age 10, he or she has 15 years to reach age 25. So, $10 a year credit times 15 years (until age 25) equals $150 of conversion credit towards an adult plan.

Either plan allows you to cover your child’s life with as many units of insurance as you wish. You can purchase additional units of $ 10,000 at anytime until your child attains age 21.

However, our gift of $10,000 of free coverage is only applied to the first $10,000 of paid coverage, and any additional units of coverage over the original unit of $10,000 will be subject to normal underwriting procedures.

But, even if you purchase only $10,000 of coverage, you will be giving your child more than financial protection and security. Once enrolled in a plan, your child is entitled to receive all the benefits of being a member of the William Penn Association, including eligibility under our college scholarship program and reduced fares on our annual educational trips to Hungary.

These plans are a perfect gift for children of any age. For your newborn child, these plans offer a lifetime of protection. For your recent graduate, they can be the start of financial maturity and responsibility. These plans also make great gifts for your grandchild, niece or nephew.

To learn more about our juvenile insurance plans, call your local William Penn representative or our Home Office at (412) 231-2979.

Years

Single

To

Discounted

Age 25

Premium

25

$288.20

24

284.30

23

280.00

22

275.40

21

270.50

20

265.10

19

259.30

18

253.00

17

246.30

16

239.00

15

231.10

14

222.60

13

213.40

12

203.50

11

192.80

10

181.20

9

168.70

8

155.20

7

140.60

6

124.80

5

107.80

4

89.40

Erdély relief effort needs support

PITTSBURGH — Relief efforts to ease the plight of Hungarian refugees fleeing Romania are well underway, but those efforts need the support of private contributions in order to continue.

William Penn members have responded to this need by donating more than $2,400 to the Association’s special Erdély Fund.

"Those who have contributed to this fund have done so in the true spirit of fraternalism,” said National President Stephen G. Danko. "I commend each person who has offered a donation to this effort.”

Despite the encouraging early response to the appeal, President

Danko said he is afraid donations may soon drop off.

"As the media concentrate more and more on our country’s presidential election, they are devoting less and less coverage to other issues, such as the Erdély refugees. As coverage of the refugees declines, we may see a corresponding decline in the amount of contributions,” he said.

"I hope all our members understand that just because we have not heard or read much lately about our Hungarian brothers and sisters in need, this does not mean that their problems have been solved.

"There remains a great need for all the assistance we can provide, and I again urge all our members and friends to help in any way they can,” he said.

President Danko also said the William Penn will match dollarfor-dollar the total amount contributed by its members.

"We would like to see this newest group of Hungarian refugees receive the same help and relief that previous generations of Hungarian immigrants received when they arrived in this country,” President Danko said.

Anyone wishing to help the refugees from Erdély can send their donations to: William Penn Association Erdély Fund, 709 Brighton Road, Pittsburgh, Pa. 15233.

Welcome To Our Fraternal Family

We happily present for your enjoyment more of our newest William Penn Association members. If you have a child age 5 or under who recently joined our Association, send us his or her photo so that all our members can welcome him or her to our fraternal family. All photographs will be published on a first-come, first-served basis.

JUSTIN R. BLACK SARAH GOLLWITZER CHRISTINE LANCSAK JONATHAN P. SAKAS

Atlanta, GA Lakewood, OH Somerset, NJ Youngstown, OH