William Penn, 1961 (44. évfolyam, 3-16. szám)

1961-11-15 / 16. szám

PAGE 4

November 15, 1961

William Penn

Official Organ of the William Penn Fraternal Association

OFFICE OF PUBLICATION RAPID PRINTING COMPANY

7907 West Jefferson Ave. Detroit 17, Michigan

PUBLISHED SEMIMONTHLY BY THE William Penn Fraternal Association

Managing Editor: JULIUS MACKER Editor’s Office:

436-442 FOURTH AVENUE PITTSBURGH 19, PA.

Telephone: COurt 1-3454 or 1-3455

All articles and changes of address should be sent to the WILLIAM PENN FRATERNAL ASSOCIATION 436-442 Fourth Avenue, Pittsburgh 19, Pa.

SUBSCRIPTION RATES:

United States and Canada _____________________ $1.00 a year

Foreign Countries ____________________________ $1.50 a year

Entered as Second Class Matter at the Post Office at Detroit, Michigan under the Act of March 3, 1879.

THE FIELD MANAGER SAYS...

One out of every five buyers of homes will not live to complete the payments on a 20-year mortgage.

At your age, do you know what the chances are that you won’t live to complete the payments on your mortgage? Your chances of not living to complete the payments on your mortgage are:

AT AGE 25

1 out of 11

AT AGE 35

1 out of

5

AT AGE 45

1 out of

3

AT AGE 55

1 out of

2

Do you know if your widow cannot pay off the mortgage or Can’t keep up with the payments, SHE WILL LOSE HER HOME, through forced sale or foreclosure.

Do you know if your widow can pay off the mortgage, SHE HAS A HOME, if she wants to keep it; SHE HAS AN ASSET, if she wants to sell it; and SHE HAS AN INCOME, if she wants to rent it.

“MORTGAGE CANCELLATION INSURANCE” puts a match to your mortgage. It provides cash for one of the finest things a man can leave his family — a home free and clear. And the cost is low.

As an example — Average cost per year per $1,000 face amount for various periods of mortgage

MORTGAGE 20-Yr. 15-Yr. 10-Yr.

AT AGE 25

$ 2.46

$ 2.26

$ 2.18

AT AGE 35

4.19

3.73

3.50

AT AGE 45

8.18

7.14

6.57

AT AGE 55

—

15.02

13.71

Don’t waste your valuable time shopping for insurance because the William Penn Fraternal Association can fill your every insurance need. Have our (trained field personnel acquaint you with the insurance plan best suited for you. It’s all easy and simple if you consult us rather than subject yourself to Rearing many confusing claims by various insuring agents.

For further information cut out the form below, fill in and mail:

William Penn Fraternal Association

436 FOURTH AVENUE Pittsburgh 19, Pennsylvania

I am interested in knowing more about William Penn insurance (specify particular information desired) ______________________________________

Name __________

Number and Street City, Zone, State _

Is Your Beneficiary Properly Designated?

Our By-Laws provide that each member shall designate a beneficiary or beneficiaries to whom the proceeds of the policy will be payable upon death of the member. Any person or legal entity may be designated beneficiary and the insured member has the right at all times to redesignate his beneficiary in accordance with the Association’s rules.

Upon death of the member, the Association is obligated to pay the proceeds of the certificate to the designated beneficiary. Too often, however, when processing a claim, we find that the person or persons designated as beneficiaries have long predeceased the member. This then can cause undue delay in processing the claim, and in many instances becomes a costly matter for the family because our By-Laws provide that if none of the designated beneficiaries survives the member then the death benefit shall be paid to the personal representative of the deceased member. This means that either an Administrator or Executor must be appointed by the courts of competent jurisdiction to whom the benefits will then be paid. This can become costly, depending on the locality in which this appointment is made. Oftentimes members of the family are of the belief that they will automatically receive the proceeds of the policy if the designated beneficiaries have predeceased the member, but this is not the case. Our By-Laws provide otherwise and it would be well for all our members to remember this. We strongly urge all members to review the beneficiary designation on their certificates and, if these are not up to date, a change of beneficiary should be requested immediately.

The proper procedure for redesignating a beneficiary is as follows. A Change of Beneficiary application must be requested from your local branch manager. This form should be completed, signed by the member, and his signature is to be witnessed by two disinterested persons. The Change of Beneficiary application, together with the membership certificate, must then be turned over to the branch manager who will forward same to the Home Office for proper endorsement. At no time should the member endorse a Change of Beneficiary on the certificate, because this will not be recognized. The endorsement must be entered by the Home Office and signed by an officer of the Association.

The Association now, under its By-Laws, permits the designation of Principal and Contingent beneficiaries. The purpose of this provision is to make certain that the proceeds of the policy, upon the death of the member, will be paid to the person or persons selected by the member, for example, a member may designate his wife as principal beneficiary and children as contingent beneficiaries. If the wife should predecease the member, the benefits will automatically be paid to the children without need for appointment of Administrator or Executor. If children are designated and one or more children should predecease the member, the benefit will be paid to the surviving designated children in equal amounts. We again urge all members to review their beneficiary designations to see that they are in order, and, if not, immediate steps should be taken to correct the matter.

If only one beneficiary is designated and the member desires to add contingent beneficiaries, a Change of Beneficiary form must be executed, designating thereon the principal and contingent beneficiaries.

In your own interest, and particularly in the interest of your survivors, please check on your beneficiary designation.

—ALBERT J. STELKOVICS Secretary

Dayton Celebrates Association’s Diamond Anniversary

Members and friends of Branch 249, Dayton, Ohio, gathered together on Sunday, October 15, 1961, in St. Emery Hall, Dayton, to commemorate the 75th Anniversary of the William Penn Fraternal Association.

Nearly four hundred guests crowded the hall to partake of a delicious dinner, hear guest speakers extol the many virtues of William Penn fraternalism, and enjoy the Magyar melodies played by Albert G. Kertész, president of Branch 249 who acted as toastmaster.

Distinguished guests, national officers of the William Penn, who spoke were: President Julius Macker, Secretary Albert J. Stelkovics, Director Louis Vas)sy of Dayton, and Director Stephen Danko of. Detroit. The wives of these officers were also present.

Presentation of the 50-Year Member Emblems was made by Mr. Macker.

Invocation was made by Father Welebil and benediction by the Rev. Molnár.

“The huge national debt our younger generation will inherit should keep them from one indulgence — ancestor worship.”

—Wall Street Journal