Fraternity-Testvériség, 1962 (40. évfolyam, 1-12. szám)
1962-09-01 / 9. szám
18 FRATERNITY SOCIAL SECURITY AND YOU Former President Eisenhower expressed the opinion that “Social Security is not intended as a substitute for private savings, pension plans and private insurance protection. It is rather intended as the foundation upon which these other forms of protection can be soundly built.” That foundation provides three kinds of benefits: a) Disability benefit for you before age 65, if you are so severely disabled you cannot engage in any substantial work and if your disability is expected to continue indefinitely. b) Monthly retirement income for you and your dependents. c) Monthly income for your family if you die, plus a lump-sum death payment. On January 1, 1962, Social Security taxes were increased slightly, and recent changes in the Social Security laws could affect your retirement program. Here are some of the highlights: a) Minimum benefits have been raised. b) Men now have an option of retiring at age 62, with lower benefits, or waiting until age 65 and collecting higher benefits. c) Widows’ benefits are increased by about 10%. d) A shorter period of “covered” employment is required to qualify for benefits under the law. But, if you expect your family to do more than survive on your Social Security benefits, you must build on this foundation yourself. One of the most functional and popular methods of providing that extra cushion for their present and future security is life insurance. ★ ★ ★ Ask your local Reformed Federation representative to review your needs and suggest how current assets, Social Security benefits and life insurance can be integrated into one comprehensive program. Our field men know the Social Security provisions well. They are especially trained to help people provide for their future financial security. PEOPLE ASK US . . . Q. Why do so many people take out “double indemnity” protection to pay twice the face value of their life insurance policies if they are killed in an accident? A. Accidents cause more deaths among Americans under 35 years old than any illness. Between the ages of 35 and 45, the death rate due to accidents is equalled only by heart disease. This means that the breadwinners of young families are more likely to die from accidents than from any other cause. And this is the stage of life when their families may have the greatest need for life insurance protection. Double indemnity helps meet the need.
