Fraternity-Testvériség, 1965 (43. évfolyam, 1-12. szám)

1965-04-01 / 4. szám

FRATERNITY

ARTICLE XII

THE CERTIFICATES

Issuance — Validity — Encumbrance Assignments

Legal Action — Restrictions — Valuation

97. The Federation shall give benefit certificates to its regular members in return for dues according to age.

98. Every certificate issued shall be accepted by the member upon the express condition that the certificate and any riders and endorsements, the charter of articles of incorporation, the bylaws of the Federation, the application for membership and the declaration of insurability signed by the applicant with all amendments to each thereof, shall constitute the entire contract between the Federation and the member.

99. If the age of the insured member has been misstated, the amount payable under the certificate shall be such as the monthly rate would have purchased at the correct age, provided, that if the correct age was not an insurable age under the Federation’s by-laws, only the net mortuary payments made shall be returned without interest. If the age has been overstated, no additional amount of insurance or other values shall be granted for any excess monthly rates paid, but such excess

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certificate but in no event shall it exceed twenty- five thousand dollars ($25,000.00).

93. A member may have his plan of insurance changed to any other plan issued by the Federation. Such member will pay the dues according to his age at the time of application for such a change. If a member desires to date his new certificate from the date of his old certificate, he shall pay the difference in the prescribed dues resulting from the change with interest at four percent (4%).

94. Those members who wish to raise the amount of their insurance shall be under the same rules as a new member regarding admittance and medical examination.

95. If any member desires to reduce the amount of his insurance in the same plan, the difference in monthly dues shall be credited to payments under the reduced amount of insurance, or if it is requested, the difference may be paid in cash.

96. The amount of dues payable under the various insurance plans, computed in one lump sum, are to be found in the Tables of Rates printed as a separate Appendix. These same tables also show the withdrawal equities as well as other nonforfeiture options.

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