William Penn Life, 1973 (8. évfolyam, 1-4. szám)

1973-07-01 / 3. szám

SICK BENEFIT RULES AND REGULATIONS REVISED AND LIBERALIZED

Through the first 60 years of the Association’s existence, sick benefit was the major factor, as a matter of fact a person could not purchase life insurance unless he had sick benefit.

Then as WW II ended and social security, medicare, medicaid and other Federal, State and local health programs were offered, the need for the old type sick benefit coverage dwindled and since 1956 it has not been sold.

The Board of Directors is seeking means of converting the remaining sick benefit members to either a medicare supplement program or a daily room benefit program or some other program which relates more closely to todays needs, the Officers and Actuary have been given the assignment to suggest various proposals to the Board. In the meantime the Board has eliminated:

1. The 7 day waiting period, from now on a member is entitled to sick benefit from the first day of sickness or injury.

2. The 20 week limitation on benefits to which one is entitled per year. From now on benefits are payable for 52 weeks per year while member is sick, disabled and under doctor’s care.

3. The Association will now consider a late sick report claim for 2 years, previously we could only consider a claim back one year at the most.

Please read the sick benefit Rules and Regulations carefully, they are being published in this issue of William Penn Life for the benefit of the sick benefit class members. Please retain this copy for your information and guidance.

RULES AND REGULATIONS GOVERNING THE PAYMENT OF OLD TYPE SICK BENEFITS (Issued Prior to January 1, 1956)

Section

100 Classes of Sick Benefit Membership for Former Verhovay Members

ClassMonthly Dues

Weekly Benefit

Maximum Amt.

1$0.45

$ 4.00

$ 250.00

2$0.90

$ 8.00

$ 500.00

3$1.40

$12.00

$ 750.00

4$1.90

$16.00

$1,000.00

102 Members who joined the sick benefit class after January 1, 1944 shall be covered for sick benefit insurance to the anniversary date nearest the member’s attained age of 65, provided he has not already withdrawn the maximum amount payable. Members who joined prior to January 1, 1944 shall have sick benefit insurance coverage renewable for life, or until all benefits have been consumed.

200 Classes of Sick Benefit Membership for Former Rákóczi Members

201 Those members who joined the sick benefit class prior to January 1, 1940 shall pay 80 cents per month sick benefit dues and receive benefits of $6.00 per week and a maximum of $375.00 in benefits. These members’ sick benefit insurance shall be renewable for life, or until all benefits have been consumed. (Class I)

202 Those members who joined the sick benefit class after January 1, 1940 shall pay sick benefit dues according to age at admission based on the following rates: (Class II)

(REV. 7-73)

Section

Age

Monthly Dues

Weekly Benefits

16-30

$0.60

$6.00

31-40

$0.70

$6.00

41-45

$0.80

$6.00

Maximum benefit $375.00

Age

Monthly Dues

Weekly Benefits

16-30

$1.10

$10.00

31-40

$1.20

$10.00

41-45

$1.30

$10.00

Maximum benefit $620.00

203 Class II members shall be entitled to sick benefits until their 65th birthday or until they have withdrawn all the sick benefits due them, whichever shall occur first.

204 In all classes, when a member has withdrawn the maximum amount of benefits, payments of dues for that benefit shall cease at the same time.

GENERAL RULES

301 Each member shall report his injury or illness to the Branch Manager to whom he pays dues. The Branch Manager in turn must immediately forward report of illness to the Home Office. Notice of claim must be given within 20 days after the occurrence or commencement of any injury or sickness, or as soon thereafter as possible.

302 Each member shall submit a completed claim form, furnished by the Association to the Branch Manager, and for each day he is incapacitated whether from illness or injury shall receive the benefit to which he is entitled.

303 Each sick benefit class member shall be entitled to a total of fifty-two (52) weeks any calendar year, provided that:

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