Fraternity-Testvériség, 1955 (33. évfolyam, 1-12. szám)

1955-07-01 / 7. szám

Minding Our 0 wn Business |

Twenty Payment and Twenty Endowment.

— Since our business is getting more complicated every year, the developing of mistaken ideas in unavoidable. Our members are mostly plain people who don’t understand the niceties of differences in the various plans of insurance, and they share, almost to the last man, the common failing of all insured persons: they don’t read and study their own certificates. So misunderstandings, sometimes serious ones, will always be with us.

The other day our President received an angry letter from an elderly lady, requesting him to look around in the Home Office, because someone evidently is embezzling the members’ money. Her complaint was as follows:

Her son had a 20-year certificate with us, for $1,000.00. The 20 years having elapsed, her son sent in his certificate, but instead of receiving $1,000.00 in cash, the Home Office sent him only $250.00. This crime cries to the heavens and should be rectified at once, with the full exposure of the culprit who pockets other people’s money.

In a few minutes the following facts were disclosed in the case:

The certificate was not a 20-year endowment one, but a 20 Payment Life, for $1,000.00, twenty years old. The son, sending in the certificate, notified us that he wants the money, which in a case like this means ordinary surrender. Accordingly, we sent the surrender value of $352.00 (and not $250.00, as the dutiful son evidently informed his mother) to the address given. The son, for reasons of his own, stated that he received only $250.00, which, of course, was not true.

The mother received the explanation, and we did not hear from them again. I hope the mother is convinced now that nobody embezzles any money at the Home Office. In fact, I would like to emphasize that it would take a person of superhuman cleverness to take even a penny which does not belong to him. All the money that goes through the office is paper and ink money, entered in the books. It becomes real money only in the members’ hands, when they get their claim checks from us, or when we pay bills.

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The age difference cases are still with us, in spite of the fact that we tried to weed out as many as possible, when the members are still alive. We must emphasize again that the

straightening out of these differences is very desirable during the lifetime of the member, since after death the required figuring is different and the amount to be deducted always is larger than the amount would have been if settled during the lifetime.

When a case of this nature pops up, we send a note to the branch, informing the branch officer about the situation, and requesting the member of the family to produce some official document by which the correct age of the person involved could be determined.

Before final settlement we must do this, since all the vital statistics in our books, cards and documents must be the same. Our supervisors make it very unpleasant for us if they discover such unsettled discrepancies. We earnestly request the good will and friendly cooperation of all our branch officers and District Managers in these matters.

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During the past months we were approached several times by former members who let their certificates lapse, requesting the repayment of the amounts they paid in dues during the few months of their membership. They figure out every penny and expect us to repay in full.

Of course, they receive the answer that the certificates have cash, loan, paid-up or extension values only after two full years’ dues are paid. If anyone lapses the certificate before 24 months’ dues are paid, he or she is not entitled to any of these privileges.

The member gets the guaranteed protection of the Federation for the monthly dues paid. From the very first day the certificate is in effect, the Federation guarantees the insurance amount should the member die during those months. The monthly payment is the price of this guaranteed protection, which can not be repaid. Only a part of it belongs to the member, but only after 24 months’ dues are actually paid. The table of values is incorporated in every certificate and should be consulted in every surrender, loan, paid-up or extension case. ★ ★ ★

A few times our branch officers returned some Hospitalization checks, with the remark that the insured is not satisfied and is not willing to accept it, since his hospital, doctor and other bills are larger, and our check does not cover all of his expenses. Some of the insured even say that when he bought the Hospitaliza- (continued on page 14)