William Penn, 1965 (48. évfolyam, 1-24. szám)

1965-11-17 / 22. szám

November 17, 1965 PAGE 5 William Penn LIBERALIZATION OF CERTAIN BENEFITS AND COVERAGES In the published Excerpts of the Board Minutes last month, reference was made to certain changes in supplementary benefits purchased by some of our members. For the benefit of those who may not have read these minutes, we elaborate on same in this article. 1. On the former Rákóczi Disability Waiver Rider for females, the termination date was 55, and this has now been increased to Age 60. Therefore, all former Rákóczi female members who are paying for Disability Waiver Riders can now keep this protection an additional 5 years by paying the appropriate premiums. 2. In order to make the Accidental Death Benefit Rider ter­mination date uniform, the Board has resolved that all Acciden­tal Death Benefit Riders shall terminate on Certificate Anniver­sary Date nearest insured member’s 70th birthday. Some of our issued riders call for termination at Certificate Anniversary nearest Age 60. or 65, but regardless of what your Rider may read, you may now keep this rider in force to Certificate Anni­versary nearest j our 70th birthday. 3. Payment of Accidental Death Benefit (Double Indemnity) dues shall no longer be required on Life Certificates which be­come fully paid-up prior to November 1, 1965. or thereafter. This benefit refers to only those Accidental Death Benefit Riders which were issued by the former Verhovav before January 1. 1952, and to former Rákóczi D. I. Riders issued prior to December 31, 1955, for which the dues were either 15<t per §500.00, or 25p or 30c per $1,000.00. On those Accidental Death Benefit Riders in which the dues ©n the basic life insurance policy are payable for more than 20 years, should death occur by accident, as defined in the Rider, the beneficiary will receive, not 100% of the Rider’s amount, but 125%. For example, if a member purchased a $1,000.00 Whole Life policy from the former Verhovay in January, 1946. and purchased a $1,000.00 Accidental Death Benefit Rider also, he would continue to pay the Accidental Death Benefit Rider dues as long as the Whole Life policy be in force. Should this member die after January 1966 by accident, as defined in the Rider, his beneficiary would receive the $1,000.00 face value of the policy, plus $1,250.00 Accidental Death Benefit instead of $1.000.00. Accidental Death Benefit dues paid to the Association under the foregoing category prior to November 1, 1965. regardless of the payment period, are due to the Association and no refunds shall be made. MAIMING BENEFIT 5. Effective November 1, 1965 the Maiming Benefit, which is part of the Association’s old type Sick Benefit coverage, either the renewable for life or limited to age 65 groups, may be kept in force on active, fully paid-up or matured endowment certificates AT NO COST TO THE MEMBER after the maximum Sick Bene­fit has been withdrawn. Prior to November 1, 1965, if a member withdrew all his Sick Benefit, he could retain Maiming Benefit coverage by paying 10p per month for such coverage. Under the Board of Director’s ruling, effective November 1, 1965, payment of Maiming Benefit dues of 10p per month will no longer be required of those members who have withdrawn all their Sick Benefits. Any payments for Maiming Benefit made prior to November 1, 1965 are due the Association and no refund shall be made. Should a member receive all the Maiming Benefit he is en­titled to before all Sick Benefit is withdrawn, there will be no reduction in his Sick Benefit dues. On the other hand, if a mem­ber withdraws all his Sick Benefits, the Maiming Benefit will be kept in force as provided in the Sick Benefit Rules and Regula­tions. The officers of the Association, together with the Board of Directors, feel that the foregoing changes have resulted in in­creased benefits to the members at no additional cost. This is just another one of the many ways in which management is seek­ing to provide for its members through a program of moderniza­tion and economy. IS YOUR POLICY UP TO DATE? SEE YOUR WILLIAM PENN REPRESENTATIVE SOON! New Yorkers Honor Branch Officer Members of Branch 48, New York City, including local and out of town guests, numbered more than 200 participants at a dinner-dance held in honor of Mrs. Rose Mihály, Record­ing Secretary of Branch 48, on October 23, 1965 in the audi­torium of St. Mary’s Byzan­tine Rite Catholic Church. Highlighting the gay affair was the presentation by First Vice President Louis L. Varga of the Illustrious Citation and Lapel Pin to Mrs. Mihály, whose fine record of more than 20 years as officer of Branch 48 did not go unnoticed by the Board of Directors. Mr. Varga congratulated and paid tribute to the honored guest as he made the presentation of the Association’s highest award, and the Branch 48 Re­cording Secretary responded most graciously. Shown in the two pictures below are the honored guest and prominent members of the Branch and the Association: Left to right: Director Joseph Toma, Regional Manager at Branch 48; Director Michael Hegedűs, Jr.; Mrs. Rose Mihály, honored guest-awardee who is Recording Secretary of Branch 48; Director Joseph Kormondy; and First Vice President Louis L. Varga. Left to right: Mr. Toma; Mrs. Toma; Paul Mihály, Branch 48 Audi­tor; Mr. Varga; Mrs. Mihály; Paul Korniczky, President of Branch 48; Mrs. Varga; and Attorney Albert B. Mark, former member of the Audit­ing Committee. Some other well-known guests who attended were Lász­ló Kereszti, Member of the Au­diting Committee, Mrs. Michael Hegedűs, Mrs. Joseph Kor­mondy and daughter Elsie, and Mr. and Mrs. Kalman Toth. Our congratulations to Mrs. Rose Mihály on her yeoman service to Branch 48 and to the Association. WILLIAM PEHN BRANCH 28 YOUNGSTOWN, OHIO This month’s news for our publi­cation will be short. Our banquet, which was held Oc­tober 31st, was a success. News about the banquet will be in the December issue. Important news is our Branch 28 Children’s Christmas Party, which will be held on Saturday, December 18, beginning- 2:30 P. M., at St. Stephen’s Church Hall, 854 Wilson Avenue. Toys, refreshments and a fine program is on the agenda from Santa Claus. So be good, kiddies, and here’s hoping- to see each and everyone of you at our Christmas Party. OCTOBER BIRTHDAY GREET­INGS: Mrs. Kay Novak, Martha and Mary Weingart (twins), and little Michael Tomcsak. Until next month, this is your branch writer. — MARGARET BUNCHY Reporter Group Medicine In its simplest form, group medi­cine is where thirty-five kind rela­tives and thoughtful friends pitch in with a cure apiece for your cold. — Courant, Hartford

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