Fraternity-Testvériség, 1976 (54. évfolyam, 1-4. szám)
1976-04-01 / 2. szám
1974 1975 Prepaid Dues ..................................$116,070.04 $104,846.99 Arrears ............................................ 48,320.70 47,094.55 Difference .......................................$ 67,749.34 $ 57,752.44 The following comparative tabulation shows adjusted life dues, Consideration for Supplementary Contracts, accident and health dues separately to give a better basis to analyze trends. It is a combined report for the U.S.A. and Canada. Adjusted Total Year Life Dues C.S.C. A. & H. Dues Income 1968 $1,246,579.56 $ 75,848.77 $58,789.71 $1,381,218.04 1969 1,346,283.28 58,013.98 60,774.34 1,465,071.60 1970 1,371,345.99 63,852.68 50,499.98 1,485,698.65 1971 1,355,015.40 82,834.40 46,117.68 1,483,967.48 1972 1,356,329.88 99,083.23 40,976.81 1,496,389.92 1973 1,351,038.21 87,964.05 36,868.30 1,476,696.71 1974 1,295,888.94 117,444.08 34,065.99 1,447,399.01 1975 1,278,599.84 123,661.08 29,377.97 1,431,638.89 The declining trend in life, accident and health dues persisted for the last several years but the $15,760.12 decrease in total dues income during 1975 might be considered a slight improvement over the $29,297.70 experienced in 1974, and $20,519.36 in 1973. The main reason why our dues income does not keep pace with the steadily increasing insurance in force is the constant growth of our non-premium paying insurances (paid-up and extended certificates). The $10,397,469.00 represents slightly more than 20% of the insurance in force, a rather high figure. Constant decrease in our accident and health dues income is the second contributory factor to the unfavorable trend. In 1975 we collected less than 50% of the 1969 health dues. The following listing shows the changes in our dues income per $1,000.00 insurance in force computed on premium paying and non-premium paying basis separately: Per $1,000 Insurance in Force Year Dues Paying Total Year Dues Paying Total 1968 $33.86 $29.41 1972 35.08 29.14 1969 35.43 30.53 1973 35.32 28.82 1970 34.07 29.13 1974 35.52 28.62 1971 34.38 28.98 1975 35.25 28.06 The slight decrease per $1,000.00 insurance in force is caused by larger volume of low premium paying new insurances. Automation of our premium billing system and Home Office administration was twice recommended to the Convention. At the 1972 Convention the motion was rejected in secret ballot by a substantial margin. (37-28) In the meantime the idea of adopting the Electronic Data Processing gained so many supporers among the Board members that a motion was made at the 1974 Fall meeting to introduce automation immediately. Upon hearing, however, the opinion of the Legal Counsellor, the motion was revoked. If it is the consensus of the Board Members that EDP be adopted in the future, a recommendation must be made to the Convention. A study on the method, way of transition from the present manual system and cost analysis may be ordered after the Convention since it is hard to predict the feeling of the delegates. III.STATISTICAL SERVICE A) FLUCTUATION OF MEMBERSHIP U.S.A. Canada U.S.A. & Can. 12-31-68 31,837 801 32,638 12-31-69 31,420 709 32,129 12-31-70 31,007 693 31,700 12-31-71 30,319 714 31,033 12-31-72 29,615 964 30,309 12-31-73 28,935 646 29,581 12-31-74 28,295 642 28,937 12-31-75 27,558 625 28,183 B) FLUCTUATION OF CERTIFICATES 12-31-68 34,679 827 35,506 12-31-69 34,286 724 35,010 12-31-70 33,863 710 34,573 1231-71 33,169 730 33,899 12-31-72 32,498 708 33,206 12-31-73 31,780 662 32,442 12-31-74 31,118 661 31,779 12-31-75 30,451 645 31,096 C) FLUCTUATION OF INSURANCE IN FORCE U.S.A. Canada U.S.A. & Can. 12-31-68 45,626,506 1,340,000 46,966,506 12-31-69 46,954,360 1,029,500 47,983,860 12-31-70 48,273,082 987,979 49,261,061 12-31-71 48,500,528 1,118,479 49,619,007 12-31-72 48,839,74« 1,108,671 49,948,419 12-31-73 48,875,151 1,053,886 49,929,037 12-31-74 49,348,242 1,225,008 50,573,250 12-31-75 49,676,705 1,337,059 51,013,764 IV. CLAIM SETTLEMENT U.S.A. Canada No. Amt. No. Amt. Death 339 $373,970 9 $4,250 Sick Benefit 91 9,592 1 65 Hospitalization 79 17,248 1 110 Matured 509 512,236 10 1,100 Surrender 489 260,728 8 3,298 Others 306 13 We granted loan against 139 certificates in the USA. On December 31, 1975, we had outstanding loan in the USA in the amount of $573,199.00 and in Canada $11,106.00. I issued 937 expense vouchers in the USA and 108 in Canada. The Board raised the benefits and maximum limitation by 50% under the old Sick Benefit and Hospitalization contracts for a trial period of one year. As a result our solvency ratio decreased by 55%, still very high. It is the opinion of our Actuary that we may continue this program without jeopardizing members’ benefits insured under the income protection and new hospitalization plans. I recommend that this favor to our worthy old members be extended for another year. I express my thanks and appreciation to the managers who are working on the field in different capacity (Area, District, Section and Branch) whose able and willing cooperation helped my department to settle properly submitted claims within 24 to 48 hours.
