Fraternity-Testvériség, 2001 (79. évfolyam, 1-4. szám)
2001-07-01 / 3. szám
Page 10 TESTVÉRISÉG “How much insurance do I need ?” This question is at the heart of all Life Insurance. It used to be simple to answer: enough to pay for your burial expenses. It is no longer such a simple response. Today we have mortgages, car loans, credit cards, educational expenses, retirement funding, as well as final expenses to consider. These items are important to consider, because they don’t just “go away” when we are no longer here. To properly find the right level of Life Insurance coverage, you and I (your HRFA Representative) must calculate how much you will need, what you have to cover those needs, and the amount left over is the amount of coverage you need. Next will come finding the right Insurance Type to fit your needs. There are two basic types: Term and Permanent. Term, just as the name implies, is for a specified amount of time. Examples are “until the kids grow up”, or “until the mortgage is paid off’, or “until I begin to make more money”. Permanent, on the other hand, is coverage for your whole life. The classic question for Life Insurance is: “When do you need Life Insurance?” Answer: “When you die.” “When will that be?” Answer: “I don’t know!” This is why permanent insurance is so important: It is there when you truly need it. Both policies provide financial security, and both are important to meet life’s changing needs. Now that you know how much Life Insurance you need, what types of coverage are appropriate for your needs, you need to choose a Life Insurance Company to meet your needs. There are literally thousands of companies to choose from. But ONLY ONE has provided coverage to Hungarians and their descendants for 105 Years continuously. ONLY ONE has headquarters in Washington D.C., since it was chartered through an act of Congress, and signed by President Roosevelt. ONLY ONE has provided mortgages for Churches to be built, for cultural activities to be presented, has cared for Hungarian Orphans and “old-aged” Hungarians. All this and more are reasons for you to put your trust and faith in the Hungarian Reformed Federation of America, where our tradition of Caring For Each Other continues to be our reason for carrying on. Our Life Insurance Products: Term Life Insurance: • Annual Renewable Term • 5-Year Renewable Term • Juvenile Term (to age 25) Whole Life Insurance (Permanent Insurance): • Traditional Whole Life • Single Premium Whole Life • 20 Payment Whole Life • Whole Life Paid-up at Age 25 • Whole Life Paid-up at Age 80 • Benevolent Life with Graded Death Benefit With either type of policy you can add the following coverages: • Waiver of Premium Rider • Double Indemnity Rider (Accidental Death) • Payor Death & Disability Rider Life Insurance is coverage in case of death. It is also important to plan for life! You need income for your entire life, and we have a solution. Annuities, which are essentially contracts between you and the HRFA can provide an income which you cannot outlive. You decide how much money to place into the annuity, as well as when and how you want to get your money back. Annuities grow tax- deferred (meaning you don’t pay taxes until later), guarantee safety of principal, have flexible payment and withdrawal options, and are appealing to many consumers. Our Annuities: • Single Premium Deferred Annuity • Flexible Premium Deferred Annuity There are many further benefits to becoming a member of the Hungarian Reformed Federation of America: prescription drug discounts; mortgage and certificate loans; college scholarships; youth camp sponsorships; disaster assistance; and a free subscription to the informative quarterly HRFA magazine, Fraternity/Testvériség. You are also entitled to buy one of our Retirement Cottages in the beautiful Laurel Mountains of Ligonier at a DISCOUNT. As you probably know, we also offer care at the Bethlen Home, where loving assistance is given in a Hungarian atmosphere. There is now a new option in Ligonier, the Ligonier Gardens, an Assisted Living Facility owned and run by the
