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Official Organ Of the Slavonic Benevolent Order Of The State Of Texas, Founded 1897. BENEVOLENCE
VOLUME 57 — NO. 15
HUMANITY
BROTHERHOOD
Postmaster: Please Send Form 3579 with Undeliverable Copies to: SUPREME LODGE SPJST, POB 100, TEMPLE, TEX 76501
APRIL 9, 1969
FROM THE EDITOR'S DESK Whole life insurance policies go by various names and include different provisions, but all are the same in one respect: they are designed to cover you as long as you live. A whole life policy never "expires." You can keep it in force as long as you need it and the premiums never increase as you grow older. Your premium rate is based on your age when you buy your policy. The younger you are, the lower the premium rate. Fart of each premium payment in the early years is used to accumulate a fund that will offset the much higher mortality risk in later years. This makes is possible to keep the full amount of insurance in force indefinitely at a level prernium rate, deSpite the increasing mortality risk as you advance in age. The fund is the reason why your policy has a cash value, and the cash value increases as the fund is accumulated. The cash value is an essential part of your policy and cannot be separated from it as long as you keep the policy in force. But the life company would pay you the cash value if you should decide to give up your policy prior to death. Since people rarely live beyond age 100, it isn't practical to continue life insurance coverage beyond that age. So, with most whole life policies, the
HINTS OF SPRING Maple trees dripping sap, Little chicks growing fat. No snow left on the ground., Greening grass all around. Singing birds, blooming trees, Fragrant scents on the breeze. Little boy catching fish, What more joy could one wish. Winter's o'er, 'bye old thing, We prefer nice, new spring. Bartoo. • • After you've heard two eyewitness accounts of an accident, you llegin to wonder about history. • • The important factor is not the size of the group in minds, but the size of the mind's in the trout). cash value reaches the full face value of your insurance at age 100. If you should be one of the very few people who survive to 100, your policy will then "mature" and you will collect the full amount of your insurance while you are still living. Some policies mature sooner — for instance, at age 95 90, or 35 — but are still considered in the "whole life" category. They carry slightly higher premium rates and build cash values somewhat inure rapidly than policies maturing at age 100. There are basically two forms of
whole life insurance: straight life and limited payment policies. Straight life policies carry the lowest premium rates for life-long protection and are the most widely-used form of life insurance bought by individuals. Normally, the policyholder continues to pay premiums as long as he lives and keeps his insurance in force. Limited payment policies become "paid up," with no further premium payments due, after a certain number of years. For example, there are "20pay," "30-pay," and "paid up at 65" policies on which the policyholder stops paying premiums after 20 years, 30 years or at age 65, respectively. His insurance , protection continues in full force for life. The longer the premium-paying period, the lower the premium for the same amount of insurance. Limited payment policies are particularly useful in retirement planning. By paying a higher premium during his active working years, a man can have life-long protection without paying any further premiums when his income dro ps at retirement. • • A TIME FOR CLEVERNESS AND A TIME FOR KINDNESS About two weeks ago we wrote about the difference between the two. If we may, we would request all of our