Verhovayak Lapja, 1940. július-december (23. évfolyam, 27-52. szám)
1940-07-11 / 28. szám
Page 4 July 11, 1940 Verhovayak Lapja INFORMATION ON VERHOVAY POLICIES Additional Pertinent Matters Continuing our discussion of the last issue, we now en large on cur explanation of the “B,” “C,” “D,” “E” and “F” policies. We have shown that in addition to the 20 Payment Life, Class “B,” payable at death policies, we have four other types of policies. The holders of 20 and 30 year endowment policies, so called “C” and "D” class, receive the face value of their policies after the lapse of that time, in cash. Anyone taking cut a $1000.00 Class “C” policy (20 year endowment) knows that he is insured for $1000.00 continuously and, if he lives, then after the lapse of twenty years, he will receive $1000.00 in cash. The owners of Class “D” policies are obliged to pay their dues for thirty years and, after the lapse of three decades, similarly, will receive the face value of their policies in cash. With these three types of policies, “B,” “C,” and “D,” the insured in reality, in addition to his regular life insurance, purchases $1000.00 on the installment plan. In the case of the “B” and “C” policies, he pays twenty installments; while the individual purchasing a “D” policy has to pay the installments for thirty years. Naturally, the endowment policies have their reserve values after having been in force for three years, the same as the Twenty Payment Life and Whole Life policies. The only difference being that with these endowment policies the extended time of insurance can not be longer than the time of the original contract. In the event that the reserve value of the policy would cover the extended time for longer, then instead of the extended time the member would re ceive cash. Let us take, for example the twenty year old membei mentioned before, and let us suppose that his name is John Smith. At age twenty he takes out a 20 year endowment policy with the Verhovay, fór which he pays $3.69 per month. If, however, he does not pay the premiums in monthly installments but pays in advance for a whole year, then this insurance will cost' him only $42.69. He pays for ten years and at the end of that time he wishes to cash the policy. He will j receive $387.00. Having paid in during the ten years | $426.90 and receiving $387.00. in cash, his insurance for ten years cost him $39.90, or $3.99 per year. (If the dividends are taken into consideration then this figure is much less.) If, however, after paying j for ten years member John Smith does not wish to ex-1 change his policy for cash | but is granted extended in- j surance, then his insurance will remain in force for ten whole years more and, at the [ expiration of ten years, if member Smith is still alive, j he will receive $473.00 in cash. In other words, more than the original payment will be received by him, so that his insurance for the duration of those twenty years did not cost him any- j thing. If, after paying for ten i years, member Smith desires a Paid-up policy, he may re-, ceive same, and this Paid-up ( policy which will mature after ten years will be for $525.00. If the financial situation of member Smith does not PAST The Verhovay Fraternal Insurance Association looks back upon more than a HALF OF A CENTURY of substantia! well-rounded progress. “QUALITY. SERVICE AND SAFETY, FIRST” has characterized its growth. PRESENT With over $25,000,000.00 of insurance in force, Verhovay is the largest legal reserve society of Hungarian origin since 1886. The society enjoys a high place among the finest quality societies of the nation. FUTURE With a splendid past, a strong present position, complete life insurance service including sales plans, helpful home office cooperation, policies for all ages including children from birth and adults to age 60 the future for the society and the men who represent it is most promising. Verhovay Fraternal Insurance Association 345 FOURTH AVENUE PITTSBURGH, PA. lermit him to pay $3.69 pe nonth, then the best thin; or him to do is to take on i 20 Payment Life policy This has to be paid for onh wenty years and, consider ng that member Smith i; now twenty years of age, th. monthly dues on this art only $2.08. If he pays in ad vance for one year then he will pay only $24.52, and hi is finished with the worr; of paying monthly dues for a whole year. Let us suppose that after ten years he discontinues paying his monthly dues and requests cash for his policy. In that event he is entitled to $156.00. In ten years he paid in $245.00, of that he receives $156.00; therefore during ten years he was insured for $89.20, or $8.92 per year. Instead of cash, he can receive a Paid-up policy for $434.00, or extended insurance for 23 years and 3 months. Taking the lattei case as a basis, we see that for $245.00 he was insured for 33 years and 3 months, which means that during' that time his life insurance cost him 61 cents per month. For those desiring to ac-1 cumulate a sum for their j old age, the most practical j is the “E” or “F” class endowment policy, payable at age 60 or 70 years. It is, very natural that if some one takes out a policy of this nature when very young he pays less, and the older he is the more he has to pay, so that when he reaches the age of 60 or 70 years, he may receive in cash the amount for which he was insured. The twenty year old John Í Smith must pay his monthly j dues for forty years if hej chooses a Class “E” insur- j ance. On the other hand, if John Smith takes out a similar policy'at age 50, then he has to pay his monthly dues for ten years only. From the ages of 16 years j to 60, everyone can find at the Verhovay the insurance i plan best suited to his i economic and family condi-1 tions. As we have recounted. [ adults may choose from j among six forms of insurance. The Verhovay issues life insurance policies from $250.00 to $5000.00, and the amount of these increase1 for the member if he takes out Double Indemnity also. Up to $1000.00 our Associa- j tion pays double the Death Benefit to the beneficiary it the member who dies of an accident is a member of the Double Indemnity class. In connection with our life insurance policies, our members are entitled to An Open Letter Bv Helen E. Vestrocy Br. 484, Beaver Falls, Pa. Looking through the conents of the Verhovay Engish issues of the past four nonths, I have noted the lbsence of all our old time contributors. I can say, from the bottom if my heart, that I miss each and every one of you. A few new ones have joined the ranks, to be sure, and this is appreciated. You new writers are welcomed heartily into the fold, so keep up the good work! We could make the Journal one of the best nonprofessional publications in ! the country, if only we would try. I can well understand that various reasons keep some of you from writing. Some of you are tied up in research work, college courses, and jobs that require all; your spare time. You may j have been pressed for time | and couldn’t contribute, as has been true in my own | case. Perhaps some of our former contributors think that they are not wanted. They must not feel thus, for they ARE wanted! Perhaps the fact that the editors modified and eliminated their ar- j tides was resented by some j of the writers. We must un- j derstand that the editors are j bound by duty to do this, and that they are well quali-1 fied to judge what should! appear and what should be j modified or eliminated. (This! is because of the various types or readers whose literary tastes must be satisfied.) The reason this care was not exercised before was because Mr. Revesz was too occupied with his task as Supreme Auditor of our Association to give sufficient time to the English Journal. I wish especially to empha-, size this point: A Verhovay member’s article always come first. The editors would; much rather have the Jour- i nal composed of articles by j Verhovay members than of cuts, reprints, etc., taken , from outside sources. Sick and Accident protection if they wish to pay the nominal cost of these features. For instance, for 90 cents monthly, we grant protection to the extent of $900.00, in the event of sickness and maiming. This is such an unusual concession that it is unparalleled in the annals of life insurance. In our concluding remarks in the next issue we shall go back to the Class “A” policy and the advantages in Verhovay policies. So, how about it? Let’s put the Journal back on the old footing (in the sense of many contributors, but not the old dangerous gossip columns) and have all the good old faithful writers back. I would certainly enjoy reading their contributions again!------------: o:-----------“A LITTLE BIT ABOUT EVERYTHING” Branch 484, Beaver Falls, Penna. How would you all like to read a ‘‘snoop”less column this time, for a change? I haven’t had much time to snoop into the lives of innocent victims lately, so can you all be contented with a column that consists of original poems, etc., made up from my own brains (what brains?) Well, here goes! Confucius say: Although the “Confucius say” rage is quite passé, here is one that I made up a,t the time of the craze: “Woman who walks out of department store without buying a purse, leaves clerk holding the bag.” (H. E.V.) “INTERLUDE” (poem) The time has come for us to part, Although it’s nearly breaking my heart. You’ll go your way, I'll go mine, And still the sun will go on and shine. I’ll call this an interlude, And hide my feelings behind a mood; Until fate brings us together again, I’ll leave you standing in the rain. (H. E. V.) JOKE Why is a gold-digger like a woman taking a bath? Because money slips through her fingers as quickly as a piece of soap. (H E. V.) POEM What’s a pretty head of hair, If there is no brain work there? What’s a pretty, flawless face, If its coldness you can’t erase? (H. E. V.) P. S. I wish to notify all my Verhovay friends that their kind inquiries and messages given at the Youngstown affair were conveyed to me. They were really appreciated. My deepest thanks to all of you. Fraternally yours, Helen E. Vestrocy, 1509 Fifth Street New Brighton, Pa.
