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VOL. 120 • SAN ANTONIO, TEXAS • SEPTEMBER 2016 - NO. 1
OFFICIAL PUBLICATION OF THE GRAND LODGE, ORDER OF THE SONS OF HERMANN IN THE STATE OF TEXAS
HERMANN SONS NEWS
Analyzing need key in purchasing life insurance By TIM KOLBE Grand Vice President-Marketing SAN ANTONIO – Each year September is designated as Life Insurance Awareness Month. Last month’s Marketing News centered on the need for life insurance coverage. Our spokesperson, NASCAR driver Danica Patrick, shared her personal story about how life insurance was an important consideration given her family history and current avocation – racing cars around a track at speeds close to 200 mph. That’s a good reason to have adequate life insurance protection but how much is enough? Analyzing Need The answer to the question of how much life insurance protection to purchase depends on the individual need. Need is determined by considering what the survivors would require to maintain a semblance of their current lifestyle after the loss of
a loved one. A single person with little debt would need adequate protection to cover burial and other final expenses while the new father of twins, with a mortgage and spouse in a two-car, two-career family, would need more coverage. A young Hermann Sons member with a nominal whole life certificate is generally thought to be adequately protected until adulthood when a new phase of life begins. Newlyweds require coverage for each other until the stork arrives and the need for coverage increases. Child care, educa-
tion, food, clothes, utilities, technology, college loan debt…. The list goes on and on. The Needs Analysis is a vital tool to assess need and ascertain the amount of coverage to purchase. We have several ways for anyone to explore this tool by visiting www. hermannsons.org and clicking on the Insurance Education/ Needs Analysis tab. In addition, our agents have both a paper and digital version available during consult with clients to help in understanding how coverage is unique to each individual’s circumstances. Once Need is Established Choosing the type of life insurance coverage is the next step once the amount of need is determined. Hermann Sons offers both whole and term life plans tailored to fit each client’s needs. See HERMANN SONS, Pg. 5
Beam honored Preuss elected to board Grand President Buddy Preuss, right, was elected to the American Fraternal Alliance board of directors during the national conference held earlier this month in Nashville. He is pictured with William R. O’Toole, chairman of the board for the Alliance who is the president and CEO of Catholic Financial Life. Brother Preuss is the third Hermann Sons Grand President to serve the Alliance on its board of directors. Louis Engelke and Leroy Muehlstein both served in that capacity. “It is an honor for me to serve Hermann Sons in this way and I look forward to working with leaders from other organizations to strengthen the fraternal system,” Brother Preuss said.
Grand Vice President-Secretary/ Treasurer Mary Beam celebrated her 50 years of service to Hermann Sons on Friday, Sept. 16. The Home Office staff planned a surprise party for her that was held in the Hall of Grand Presidents. Also attending were members of her family including husband Mike and children Marla and Marcus, pictured above. Daughter Margo lives in Seattle and could not attend. Prior to becoming Grand Vice PresidentSecretary/Treasurer in 1998, Sister Beam served as administrative assistant to the Grand President. She began serving in that capacity in 1974 for Henry Riemer followed by Louis Engelke and Leroy Muehlstein. She started her career in the Membership Department when Fritz Schilo was Grand President.