Fraternity-Testvériség, 1956 (34. évfolyam, 1-12. szám)
1956-11-01 / 11. szám
18 FRATERNITY a) Member pays $16.36 monthly until the 20th anniversary of the certificate; then he pays nothing until he reaches age 65, when he may have $5,000 in cash, or he may ask for any of the options included in the certificate. b) Member dies at age of 37; his son gets $5,000. 3. Twenty Year Semi-Endowment. This is a variation of the twenty year endowment. Member pays dues for 20 years, or until his previous death. After 20 years no more payments have to be made. If member lives on the 20th anniversary of the certificate, he gets half of the face value and the other half will be remitted upon his death to the beneficiaries. If member dies before the 20th anniversary of his certificate, the whole face amount will be remitted to the beneficiaries. Example: Member, age 30, takes Twenty Year Semi-Endowment certificate in an amount of $5,000. His beneficiary is his wife. His monthly premium will be $15.94. a) Member reaching the 20th anniversary of his certificate (at age 50) receives $2,500 in cash or he may use any of the guaranteed options. The remaining $2,500 will be paid upon his later death to his wife — without continuing premium payments. b) Member dies at age of 40; his wife receives $5,000. 4. Endowment at Age 60 or 65. This is issued under a certificate whereby dues are paid until member reaches the age of 60, or 65, respectively, or until his or her previous death. The face value is payable to the member upon the attainment of age 60, or 65, or to the beneficiaries, in case of previous death of the insured. Example: Member, age 35, takes Endowment at Age 65 certificate in amount of $5,000. Beneficiary is her husband. Her monthly premium will be $13.33. a) Member, attaining her age of 65, may receive either $5,000 in cash, or she may take one of the options. b) Member dies at the age of 37. Her husband gets $5,000 from the Federation. ★ ★ ★ We will devote our next article to a detailed explanation of the options included in our new certificates.
