Verhovayak Lapja, 1949 (32. évfolyam, 1-12. szám)

1949 / Verhovay Journal

Verhovay Journal

February 16, 1949

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PAGE 12

“HAVE A

(Continued from page 11)

be difficult to spare enough of my earnings to send him through college. Buc if I start now to build a fund for his college education, I can swing it without any serious hardship. This is the plan I adopted;" continued Jack and put the paper with the figures in front of Joe, “you see, the Verhovay has an Endowment at Age Eighteen Insurance Policy. Applying for it right after birth of the baby, it costs at today’s rates $4.69 a month, or $13.94 quarterly, or $27.63 semiannually, or $53.15 annually. This includes everything, even the 5 cent management expense. On the anniversary of the certificate immediately. following the eigtheenth birthday of, your son, the Verhovay will pay him $1,000 in cash.”

“That isn’t enough for college, Jack.”

“I know that. But of course, if you can afford the rates for a higher amount, you will be better off. We’ll get to that later. Than, too, the Verhovay may help your boy in other ways. There are educational loans available to the members of the Verhovay. They are interest free and may be repaid after your boy has established himself in his profession. I can’t see into the future, but I think I am not far off in believing that some day those educational loans may amount to more than they do right now. Then, too, once your son has a start in college, he may win a scholarship. You, too, may be able to help him some. And he, too, may be able to raise some money during vacations. The main thing is to give him a start. And even though a thousand dollars is not too much money nowadays, it still will give him a start. But the point is this: if you let the future decide, do you think you will be able to hand him a -thousand dollars just like that when he graduates from high school?”

“I doubt it . .

“Right you are. Of course, you may be luckier than the rest of us, but you can’t depend on luck. But let’s get back to what you mentioned a minute ago. If you want to make a better plan, you can purchase a two thousand dollar educational fund for your son and, actually, it will be less expensive than the one thousand dollar fund.”

“How come?”

“Look at these figures, Joe. See, the annual rate for a One Thousand Dollar policy is $52.55, plus 60 cents management expenses. That’s $53.15. You pay this for 18 years and when all is paid, your dues will have totalled $956.70. For that you get a full One Thousand dollars.”

“Wait a minute Jack, don’t you think that this is . . . let me see . . . $43.30 . . . yeah, that’s it, don’t you think this is rather little earnings for so much money*”

“It may not be much in the way of interest earnings, Joe, but don’t forget, you don’t only build an educational fund for your son, but you insure him as well. Some children do die, you know, though I fervently hope that your boy will live to celebrate his hundreth birthday. Still, we must be prepared.”

“That’s .^right, Jack. In other words, if the child should die, the Verhovay would pay $1,000, is that it?”

“Well, let’s have this clear before we go any further. The insurance laws do not permit the payment. of full death benefits after children who die at an early age. In New York, Connecticut and Virginia the full face amount of the policy can

CIGAR!”

be paid only if death occurs after the age of ten. But we are in Pennsylvania. Here as well, as in 14 other states the full face amount is now payable after a chitd who dies at or after the age of five.”

“And what happens before?” “Here is the schedule. It a child, insured for a thousand dollars, dies before its sixth month, the Association pays $100. If the child dies at the age of one, the death benefit is $200. At the age of two it is $400, at the age of 3 it is $600, at the age of 4 it is $800, and after the child has passed four years and six months, it is the full face amount, that is One Thousand dollars.”

“I see . .

“In other words, you can’t lose. No matter what happens, you get back.1 more than you pay. Thus, while building an educational fund for your chill in easy monthly, quarterly, semi-agnual or annual installments, you insure its life, too. The risk is assumed by the Verhovay, but of course you have to pay something for it, in the way of lesser interest returns.”

“If guess that’s fair.”

“You bet it is fair. It is more than fair, it is the only sound way to make sure that your boy will get his education. Because by making provision for the deaths that are almost certain to occur, the Association protects the funds that are' built for the benefit of youngsters like yours and mine.”

■ “I see what you mean. Go ahead.” “I said that the total amount to be paid by you for a thousand dollar education fund will be $956.70 if you pay in annual installments. Now, if you take a two thousand dollar policy, your annual premium will be $101.24. In 18 years you will have paid a grand total of $1,822.32. That makes the cost per one thousand dollars $911.16, a gain of $45.54 over the rate of a straight cne thousand dollar policy. Your total gain on the two thousand dollar plan will be $177.68.”

“That sounds better . . .”

“It is better. Of course, it depends entirely on your earnings whether or not you can afford the higher amount of insurance. The more you can buy, the cheaper you get it, actually. And think of what.it will, mean not only to your youngster, but to yourself and your wife, to know that you have opened the way for him toward a better life.” / “Yes, Jack, I can see your point. But here is something that is bothering me. What if I should die, let’s say, two years from now? I don’t expect to die, you understand, I’m in perfect health, but there are accidents, sudden illnesses. I’m sure my wife wouldn’t be able to pay such high premiums . . .”

“A very good question, Joe, and I am glad I can answer it. You see, Joe, the Verhovay has introduced this year the Payor Benefit insurance . . .”

“What is that?”

“Here is how it works. We have you examined by a physician at the Association’s expense. You say you are in good health and I think that’s the case. If the doctor says so, too, the Verhovay will add a rider to your son’s policy and that rider will provide that if you should die at any time during the life time of the policy, no more dues will have to be paid thereon and when the 18th anniversary of your boy’s policy wiil come around, he will get the full amount paid to him.”

■‘That’s interesting. Does the Association give that * Payor Benefit insurance with all juvenile policies?” “Yes, it does, though it doesn’t

“I just heard that the students have a nickname for Professor Smith, and I think it is very nice,” said Professor Jones. “It shows real friendship. Sometimes I wish they had a nickname for me.”

“They do have one,” commented his son. “They all call you Sanka.’ Later in the, evening the good professor thought of this matter again and became'curious. He searched the kitchen and finally found a package of Sanka. Careful inspection of the label disclosed th* folowing statement: “More than 98 per cent of the active portion of the bean has been removed.”

A beauty parlor in one of our cities has the following sign in the window:

“Don’t whistle at a girl leaving here. She may be your grandmother!”

work the same way in all cases. You see. this type of insurance actually provides for the waiver of all premiums, in the case of the Payor’s death, until the 21st birthday of the member. Then, he will have to start paying himself on his insurance. But the Endowment At Age Eighteen matures before the 21st birthday of the member: hence in this case the premiums are waived altogether. The same way on a Twenty Year Endowment or the Twenty Payment Life Insurance, if it is taken out before the child passes the age of one. In othercases, however, the assumption is that at the age of 21 one is able to pay premiums and hence there is no need to continue the waiver beyond that age. And that’s what makes it cheaper ...”

“That’s just what I wanted to mention, Jack. I guess, this Payor benefit insurance is quite expensive . . .’’

“You’ll be surprised, Joe. Look, I put it down for you. In the case of your boy who was just born, and yourself 1— I know you are 25 years old — the Payor Benefit insurance will cost you a mere 22 cents per month per thousand dollars insurance. If you take that, you’ll never have to worry about how your wife would manage to pay for your son’s college education if you should die . .

Patient: Why stick me in the ward with that crazy guy?

Doctor: Hospital’s crowded — is he troublesome?

Patient: He’s nuts. Keeps looking around, saying “No lions, no tigers, no elephants” — and all the time the room’s full of ’em.

The corporal was preparing to fingerprint a recruit.

“Wash your hands,” he said.

“Both of them?” asked the recruit.

After a moment’s hesitation, the corporal said:

“No, just one. I want to see you do it.”

A PROBLEM FOR FISHERMEN

I ask a simple question,

This truth only I wish:

Are all fisherman liars,

Or do only liars fish?

“I like that . .

'“I knew you would, Joe. That’s why I came. Because, you know, 1 have been thinking of your wife. Don’t you think it would make her feel very proud and happy after all she had gone thru, if you would surprise her with an educational fund for your son? That really would show her how deeply you appreciate what she has given you . . .” “That’s an idea,” said Joe softly and swallowed hard. He remembered his wife as she lay on the bed, tired, exhausted, yet so anxiously searching his face for the expression of happiness . . . He slammed his hand on the table: “Come on Jack, let’s write that application . . .”

“I knew, you would feel that way,” said Jack _and started to write, ’and what will it be?”

« “Two thousand, Jack.”

“Alright, that’s the best investment you can make. I’ll give you a medical blank, Joe, and you’il see our doctor. He will examine the baby, too, since it’s a two thousand dollar application . . . But from

what I heard, everything will be alright. Your boy weighs eight pounds, doesn't he?”

“Eight pounds and two ounces!” came the proud reply and as Jack filled in the answers, Joe Miller thought of his wife, and how happy she would be to know that her son will get an education . . .