Verhovayak Lapja, 1950 (33. évfolyam, 1-12. szám)
1950 / Verhovay Journal
March 15, 1950 Verhovay Journal PAGE 9 HOW MUCH IS LIFE WORTH? — The Insurance You Own Is The True Index Of Your Self-Estimate. — It i« common practice to insure valuable possessions. In times past, when insurance at reasonable rates had not, yet been available to everyone, losses due to fire, flood, storm or burglary used to arouse a great deal of helpful sympathy for the victim, Since that time, however, public attitude in regards to Losses has undergone considerable change. With insurance protection available to all, uninsured losses generally are considered the victim’s fault. If an uninsured home burns down, the owner is called a fool. Instead of receiving- sympathy, he is condemned and tv.en the commiserating friend will tell him, “let that be a lesson to you-.” The first thought of anyone purchasing; some valuable property, be it a home, a business, an automobile, jewelry or cattle, will be to protect these newly acquired possessions, against all possible contingencies. If it were not for competition, the salesmen ef property insurance wouldn’t have any problems at all. The customers would beat a path to their door-steps and ring the bell in the middle of the night to make sure that their possessions would not be left unprotected for a single day. Nor would any property owner be satisfied with having just- some insurance protection. He will feel protected and safe only if the insurance will cover the entire value of his possessions. If it’s a 12,000 dollar home, he’ll insure it for 12,000 dollars and not for $5,000; and if it’s jewelry worth $25,000, he will not be satisfied with only $10,000 coverage. CHANGING VALUES Property values, however, are subject to changes. A home that sold for $8,000 before the war, is worth $15,000 today. If that home were to burn down tomorrow, the owner could not replace the loss from the proceeds of an $8,000 insurance policy. Changes in values, therefore, call for adjustments in the insurance coverage. In times of recession insurance will be reduced because excess coverage is not permissible. On the other hand, when property values advance, coverage must he increased for the protection of the owner. The last twelve years have brought about a vast change in the economic structure of our nation. Not only property values, all values have ad-LAPSED MEMBERS — JANUARY, 1950 SENIOR ORDER: 13 Ludwig Francis A., Ludwig Mrs. Francis; 14 Bolesic Paul P., Katona Nicholas; 17 Bende Frank A., Bende Mrs. Frank; 20 I'edak Theresa; 25 Shawver Mrs. Charles; 43 Deems Mrs. William; 96 Flora John; 120 Korintas Mary, Kornitas Irene; 132 Varga John; 141 Sari Bertha, Toth Joan E.; 147 Blinsky Joseph, Blinsky Mrs. Joseph; 187 Nagy John P.; 214 Williams Robert L.; 22C Vodila Mrs. Elizabeth; 344 Hankosky Mrs. Julius; 361 Barry Steven, Koren Mrs. Stephen; 364 Varga Joseph P.; 369 Sito John E.; 448 Gordon John, Jr., Gordon Mrs. John; 452 Herlensky Walter; 482 Somogyi Mrs. Paul; 511 Kovach James. JUNIOR ORDER: Pt. Skotek Samuel 8 Molnár Lajos, Vasilinda Ronald; 13 Horvath Louis, Jr., Ludwig Thomas F.; 17 Chonko Norma Jran, Kovács Louis C., Mason Eugene, Jr., Mus^ka Ronald J.; 20 Vargo Steven F.; 22 Schläfer Sydney A.; 23 Moody Preston, Moody Geraldine, Moody James, Odham. CSft'roll Jean, Odharn Doris G., Odham Fern Marie, Odham Jonathan, Jr., Odham. Shirley D., Shumate Dorothy B., Shumate James Lee, Shumate Mary S., Shumate Rosalie, Shumate Vincent E., Shumate Walter L.; 25 Chapo Gene Edwin, Fekete Saralta A.; 27 Juhasz Pamela Jo.; 34 Gregosits Anna, Harmeiiing Carol J., Harmening Leroy; 36 Warga Rose Marie; 40 Shuagis Geraldine, Shuagis Jean T., Shuagis Rose Mary, Shuagis Shirley A.; 48 Feller Marylin, C., Feller Richard S., Wagner Dolores; 52 Lansdale William; 55 Kish Sylvia L.; 59 Bojsza Irma Eliz., Bojsza Gary Steph.; 85 Settie Robert C., Settle Yolanda E.; 89 Buza Elizabeth, Buza Margaret; 96 Bacsa Joseph, Jr., Cheke Donald A., Davy Barbara E., Maylath Evelyn; 120 Pastor Louis Michael, Pastor Rose Marie, Vinelir Mariska; 127 Poltel Elizabeth; 129 Deri Robert S.; 132 Kerestury Richard, Kertai Carmen K.; 133 Shandor Joseph J.; 137 Markus Mary Ann, Markus H. Robert, Markus A. William; 138 Bárányos Louis; 147 Blinsky Charles T„ Blinsky Francis, Blinsky Joseph D., Blinsky Leroy; 150 Mihalik John; 171 Hansen Mary Anne; 174 Brandt Rose Mary; 197 Delewski Margaret, Delewski Helen; 214 Williams Charles E., Williams Donald G., Williams Dorothy, Williams Joyce Y., Williams Vera L.; 249 Nagy James G., Jr.; 291 Dipasquale Barbara; 296 Bauman Marion R., Lubatti Andrew, Jr., Lubatty Gene Will; 303 Belleville Edward; 324 Kota Dorothy Alice; 350 Plumley Barbara J., Plumley Gloria, Plumley Kitty Dee; 361 Sutto Antoinette; 369 Sito Michael John, Sito Yolanda R.; 399 Cook Kathleen; 429 Kish David Charles; Kish Joseph L., Jr.; 430 Husar James A.; 443 Alehin David M. Lee; 448 Gordon Gloria Anne, Gordon James F., Gordon John III.; 482 Redden Homer L., Somogyi Paul J.; 500 Kecskes Carol A., Kecskes Elizabeth; 511 Horvath: Frances. Perlaki Anna, Rist Julia, Smouthers Stephen; 518 Lawrence Walter A.; 542 Molnár John Joseph, Molnár Nancy Louis, Molnár Peter S. G.; 545 Patricelli John, Jr.; 554 Konschak James O. 3# Senior, 112 Junior, total 142 members. JOHN SABO, National Auditor. EXTENDED INSURANCE JANUARY, 1950 SENIOR ORDER: Pt. Chomo Janos, Fares R. József, Natalio Jarri; 3 Daquisto Mrs. Sal.; 9 Kish John, Jr.; 14 Baykan Demeter, Bazarin Stephen, Behun Stephen, Bencso Joseph P., Brothag John J., Brothag John P., Lefkovits Louis, Lefkovits Mrs. Louis, Moses Mrs. Charles, Szakács Birs. Joseph, Toth Eugene S., Toth Birs. Eugene; 17 Bartal Louis, Bende Frank, Kovács Elizabeth, Retay Birs. Anton, Sova Birs. James, Szántó S. John, Vargo Edward E.; 23 Yanko Joseph, Shumate George V., Shumate Constance; 25 Gargas Tamas, Johnson Cárion H.; 26 Horvath Ferenc, Horvath Mrs. Frank; 27 Juhasz Julius, Mészáros Pauline, Richmond Birs. M. T.; 34 Benko Louis, Pauloviteh Mrs. S., Weigman Birs. Rich.; 36 Horvath Birs. Stephen, Karl Albert E., Jr. (2); 45 Bittennan Mrs. Michael; 46 Nagy Sándor; 48 Imre Zoltán, Tancsinec Georg’e, Tancsinec Mrs. Geo.. Teleky Vilmos; 59 Kocsis Verna, Spisok Joseph, Zabrosky József; 67 Somjai Steven R., Jr.; 88 Brena Narciso; 96 Bencsics Edward P., Hegedűs- Stephen, Kardolos Albert, Konyar Peter, Newman Mrs. Charles, Reich Robert; 101 Bc-llo Joseph; 107 Blittler William, Mittler* William T.; 117 Trsztyanszki Theo.; 120 Kornitas John, Jr., Kornitas Mrs. John, Kornyitas Blichael; 121 Pakurar Ivan, Pazsitka Janosne; 129 Ferranti Mrs. Wm.; 132 vanced. Wages as well as prices have moved up, generally speaking, in equal proportions. This means, of course, that values actually have not changed, only the monetary terms in which such values are expressed. The relation of earnings to prices is about the same as before, we simply use higher figures to express relative values. The man whose 8,000 dollar home is worth 15,000 today, is no richer than before. If instead of selling he would barter his home, he would receive as much in some other commodities as he would have received twelve years ago. In other words, there is only one factor in our economy that has actually changed: the value of the dollar. It has shrunk. So now we talk higher figures to express the same values. That is all the change that has occurred. (Naturally, whenever a nation’s currency is subjected to such changes, some people gain while others lose. The living standard of certain groups is raised while that of others is lowered. But these incidental changes don’t affect the over-all picture and they have no bearing on the matter under discussion.) Fully aware of the significance of these changes, property owners don’t object at all to increasing the insurance coverage on their possessions. They realize that they are not really paying more for their insurance than before. Knowing that their properties are worth many more shrunken dollars than full-size dollars, they are willing to pay correspondingly more shrunken dollars to cover the values to be protected. These things being clearly understood by all, is it not strange that there are so many people who simply refuse to apply the same principle to their most valuable, in fact, irreplaceable possession: their lives ? LIFE’S VALUE What is the value of human life? That, of course, depends on the viewpoint. Looking at it emotionally, a life lost cannot be replaced. A brand new automobile can be replaced. A home can be replaced. Furniture can be replaced. But a human life cannot be replaced. A widow may remarry, but the second husband 'will be different from the first one. A newborn baby may take the place of a deceased child but it cannot replace it. It will not be the same, nor anything just like it. It will be a different child arousing a set of emotions different from that which surrounded the first one. It is said that ‘people are all alike.’ Actually, however,, each individual is unique, essentially different from all others. An individual cannot be reproduced. And because of that it is impossible to find a standard by which to measure the emotional value of human life. It certainly cannot be expressed in terms of dollars and cents. To a somewhat lesser extent this is true also if we try to evaluate life from the point of view of human qualities. Here we do have certain standards and ideals to which the individual can be compared. Measured by these standards we speak of ‘valuable’ men and of ‘worthless' individuals. But when we ask ‘how much’ a good man is worth, we are stumped. Character, talent, brilliance, will power are high ranking assets but their values cannot be expressed in terms of dollars and cents either. MAN’S ECONOMIC VALUE There is only one aspect of human life that can be evaluated in terms of dollars and cents. It is the productive capacity of the individual in the economic sphere. This capacity has a cash value which is the sum total of his present and future earnings. Deducting from this the costs of self-maintenance and personal expenses, we get the net value of man’s earning capacity. Let’s take, for instance, a young man, 25 years old, married, who makes about $3,000 a year. Part of his earnings go for his own maintenance and' expenses, the rest is what he spends for his family. If for the sake of simplicity we assume the part spent for selfmaintenance and personal expenses to amount to $1,000, the balance, $2,000 per annum represents the economic value of his life to his family. Man’s earning capacity is, therefore, a tangible asset of human life. It can be lost, due to illness, accident, disability or death, but, being a tangible asset, it can also be replaced — through insurance. In other words, man’s economic value is an insurable asset, just like a home, jewelry, an automobile, or any other possession the value of which eän be expressed in terms of dollars and cents. OLD FORMULA GOOD TODAY About half a century ago, in the early years of the Association, the average member who then was a miner, earned a dollar a day. If he worked six days a week and there was no lay-off, his annual earnings amounted to a little over $300. Life insurance wasn’t as popular in those days’as it is today,, and the immigrant miner knew less about its advantages than the average native American, yet those immigrant Hungarian miners paid $1.00, that is a full day’s wages each month for (Continued on page 10) Payne Mrs. Paul, Ross Frank, Simon Denesne; 138 Onda John A., Jr., Soroka Birs. Andrew, Jr., Szabó Mrs. Emery; 141 Kaldy Mrs. Fred; 143 Prokay Helen; 159 Vontor Steven S.; 163 Kabana József; 164 Sabo Blary Ann; 172 Keresztúri James, Keresztúri Joseph; 174 Giuseppe Occulto, Kassay József, Kató Birs. Andrew (2), Kató Joseph, Kató Blichael A., Kovács Julius, Kovács Birs. Julius; 186 Kader Helen M.; 208 Zefko Joseph; 214 Kantor Blary; 222 Kosztyo Mrs. Andrew; 226 Varga Margaret; 248 Alphonzo Frank; 310 Vqrga Mihály (2); 335 Henes Robert; 341 Pocsay Michael, Jr.; 344 Hankcsky Julius, Jr.; 345 Hussar Stephen; 349 Restagno Theresa; 361 Bauman Birs. Rudolph; 366 Bolesic Paul P., Bloses Ella Emma, Moses Theresa; 409 Horvath John, Jr.; 428 Gasser Birs. Helen, Zsitek John; 432 Vargo Alex E., Sr.; 439 Balog Emery; 442 Blihalina Michael (2); 443 Colombo Henry D., Gronas Stephen; 448 Katalsky Mrs. S.; 452 Dailey Frank J., Jr., Dailey Mrs. Frank, Satenko Charles; 490 Perri Mrs. Domonic; 511 Epacs Alfred, Fauer Helen V., Horvath Stephen, Horvath Birs. Stephen, Osvari Elmer L., Osvari Margaret, Polyak George P., Sule Bela; 542 Molnár John Joseph, Molnár Mrs. John; 545 Patricelli John, Sr.; 548 Klárik John. JUNIOR ORDER: 14 Cuper Joyce, Suto Evelyn M.; 17 Bartal Stephen M.; 25 Garges Thomas; 27 Richmond Minyard T.; 45 Olah Roberta J.; 66 Biuczko Andrew; 89 Rokaski David; 96 Kosco Carol; 132 Kertai Emery H., Nemeth Dennis W., Nemeth Robert, Nemeth Shirley; 133 Shandor Robert L.; 138 Bárányos Louis; 159 Vontor Thomas J.; 428 Zsitek Frank John; 448 Tamcheck James J.; 490 Wilsey James Richard; 525 Haydu Stephen, Jr. 131 Senior, 20 Junior members, total 151 members. JOHN SABO, National Auditor.
