Newspapers / The Kings Mountain Herald … / Nov. 12, 1964, edition 1 / Page 14
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Stretching Your Doikr By Philip J. Goldberg Institute tor Financial Planning. Inc. f When should the aged ..uy life insurance? The answer is. when all undue burden would e plat - ed ■ >n n‘l lives because <d the cost of paying final expenses. Before buying th.s kind if life insurance, I woultl like lo cauton my elderly friends not only to consult with their financial mid legal atlvi - irs and life insurance agent, hut also with the relative; who w uld be financially affect ed. Too often. I have found that many thoughtful senior > iti/ens will spend most of their savings on life insurance, when the rdu fives could have easily afforded final expenses. One ex imple ol this is tile story of my neighbor's unde: Years a >«> a neighbor if mine had on elderly un de living wiih I his family. Alt tough my neigh bor could easily have paid llit* cost for all final burial and health and medical expenses for j his uncle, the old man insisted ' >;i spending all of Ins social sp ur.ly income on a $3,000 life In .uranic policy. For several years ilie uncle li\i*d frugally and lone ly, having only his mem >ncs to jive him enjoyment. Me was •ntented by his act of independ mis*, knowing that he did not have to lie a “charity case” to his nephew, and that when his lay came, hi- would go, "owing 10 debts to anyone ” In spill- of the fact that his r.ophey owed him quite a ijit. >o*h financially and moi lly. the uncle insisted upon maintaining h.s position of li -liness and in lependanee. Of course, when he died, his nephew applied the life insurance benefits to tin- final expenses, lie would gladly have paid these expenses himself to '.rive his uncle a few more years >d happiness. Another case involved a friend of my father, let's call him Tom. Ir his seventieth year, Tom was blessed with two line sons and six beautiful grandchildren. Mr lived with his oldest sin. Bill, c manager .if a sujs-rmarket hare ly making enough to support tin family. But Toni ha:l some xon ey saved up and ai age seventy he realized he wouldn’t l»e liv.-ig indefinitely He knew that final medical and hospital expenses ,»!us thernst of a decent burial would amount to mote money than he had on hand. Certainly he did n >t want to place the fi naneial tiurden -zi his children. In i<onsultati".i with his law ye-, life insurance agent and '> • h of his sons, he decided to take a small amount of his sav ings and invest it in a high-pie | mium life insurance, old age pol icy. The face value of the policy | would lx- S3.O0O. An anticipated, , ! he passed on two years l iter. A mid the -rief, his family had the comfort oi knowing that th^y would not be burdened y Tom’s expenses. Also, they had the le gacy of the balance of his sav i ngs account, fn all. Tom had on- i ly sjM-ni a small amount in pre- I niiums for the two years, and his I i«>! y paid h's fa r.ily $.1,000 Certainly, in th:s case, old ago life insurance was worth the risk. 1 cannot emphasize enough, that old age life insurance is on FREE YOU ARE INVITED TO A Demonstration Meeting of the Dale Carnegie Course See and Hear: • How to Develop More Poise and Self-Confidence • An Amazing Memory Demonstration • How tc Get Along Better With People • How tc Speak Effectively to Individuals and Groupr Both Men and Women Invited—No Cost or Obligation • DATE: THURSDAY, NOV. 12 • TIME: 7:27 P.M. • PLACE: ARMORY, KINGS MOUNTAIN Sponsored by KINGS MOUNTAIN IAYCEES FREE—Refreshments Served—Door Prizes ly for those- who can finnn-.ally afford to buy it Life insurant* is not a gamble hut rather, at investment. Finally, I migh: ■ point out that there are many different kinds of old age life in suram-e policies. There is one j specific policy for everyone. There is a tendancy on the part of some insurance com pan- j ies to offer life insurance for the J elderly via mail. A person should | be cautious about buying this type of policy, since it is obvious that the company must advertise for sales, because it is not li censed to sell through agents in that state. By not having a li cense in your state, a life insur ance company is not under the supervision of your state commis sioner of insurance. This is not, however, meant to impunc the integrity of many good, estab lished mail order life insurance companies who specialize in sell ing insurance to the elderly. The safest risk for anyone, is to con sult someone who knows thp in egrity ot the company you are considering. Finally, one cannot overlook the importance of health and ac cident insurance for the elderly. This is often more important than life insurance for old age. j Very often, the high premium | which would have to be paid for j life insurance in old age. can be spent nrofitably in "over 65” Health insurance coverages now provided in many states, and specifically several well-known health insurance plans which art open for those over 62. Anto Dealen Plan Meeting Raleigh. The North Carolina Automobile Dealers Association will hold its eighth annual work ing conference on Friday. No [ vember 13 at the Sir Walter Ho tel in Raleigh, according to an 1 announcement made today by Mrs Bessie B. Ballentine. execu 1 tive secretary of the association. Between two anti three hundred automobile dealers are expected to attend the one-day meeting : which will lx* highlighted by dis | cussions on sales, service and | warranty. NCADA President E. ' Li. Gamble of High Point will call | the meeting to order at 9:30 a.m. William M. Sanders, Raleigh Ford dealer, will serve as mod 1 orator for the conference. Speak ers will include Mrs. Mildred Johnson, sales executive, speaker | and author of Kansas City. Mis somiS: Joseph Paul. Oldsmobile dealer and director of the Nation al Automobile Dealers Associa tion in Washington, D. C.; Ken Brown, Chrysler Plymouth deal er in Detroit. Michigan; James C. Moore. NADA executive vice president, Washington. D. C.; and T. A Williams. Sr., Chevro let dealer in Greensboro and NA DA Director. Officers of the North Carolina Automobile Dealers Association are: E. B. Gamble. High Point, president; W. A. Raney. Wil mington. vice president; George O. Stovall. Albemarle, secretary: and Odell Matthews, Winston-Sa lem, treasurer. Smith Re-EnlisU In U. S. Air Force FAYETTEVILLE. N. C - Staff .Sergeant James W. Smith, son of Mr and Mrs. David Smith of Bessemer City, N. C.. has re-en listed at Pope AKB, N. C.. for an other tour of service in the U. S. Air Force. Sergeant Smith is an aircraft mechanic in a Tactical Air Com mand (TAO unit at Pope. His squad,-on supports the TAC mis sion of providing firepower and ; other air support to U. S. Army l forces. The sergeant is a graduate of Lincoln Academy, Kings Moun tain. N. C. He is married to the 1 former Mary K Moses, daughter of Mrs. Willie M. Moses of 606 Brookhill Road. Charlotte, N. C. Here ere three kinds of tigers. We sell two. (Have you priced a tiger lately?) i j. rk ,»•• c «s Poo* lo Man*, ton left. Fierce: 5*0 o» 286 hp option it Pontiac 6TO. above Ferocious. Come* with ' P b kit • Hjfst ' .of ahi'tar, dual exhausts. heavy dutv sofinps. redt.ne tiro*. The whole pacfcaoe- 1 nat otn«f tipef ? f" pu.’tlod cat. out a"*wrtv ' car. tourwJ i! doesn't tome with tunas at that stripped.sown pnee Look around. See. S' *■eons.. ... sra* uh*f. gxano nwx. catai..4A. if van*, eso ano’tunst as tout autmomued eoMiac I Track Tigers UMaasAOTO Give The United Way To The Kings Mtn. Grover &Bethware United Community Drive ! WHAT IS THE UNITED DRIVE? WHY SHOULD YOU GIVE? f It is a LOCAL United Campaign, conducted by LOCAL volunteer workers FOB LOCAL charitable or ganizations and service groups. This Year 9 organizations are con ducting their fund raising drives totaling $23,119.60. (1) If our goal is reached, the prob lem of “too many drives" is solv ed. If we are successful, all charities will seek to Join in the United Fund and there will be only ONE Drive in Kings Mountain. (2) If we fail, everyone loses — And the United Fund will cease to function necessitating individ ual drives by each group or charity. WHO IS IN THE UNITED FUND THIS YEAH? (1) American Red Cross — Kings Mountain, Grover, Bethware Area — $5,056.00 — Continuing to serve all people in need and in time of disaster. , (2) Boy Scouts (White and Negro)— $5,385.60 — There is no substi tute for Scouting in the develop ment of our youth. (3) Compact-Davidson High School Band — $1,428.00 — This fine group must have funds to sup port the purchase of new uni forms. (4) A Cancer Fund for Needy Kings Mountain - Grover - Bethware Section—$1,000.00—A new fund to be disposed of by a local committee for local needy can cer patients. Not associated with the American Cancer So ciety or its drive. (5) Girl Scouts (White & Negro — $1,500.00 — An increasingly im portant factor in the develop ment of girls for home and com munity. i (6) Mauney Memorial Library — $1,000.00 -r- A growing source oi knowledge for all local people. There is a constant need to buy now books to broaden our Li brary's services. (7) A Heart Fund For Kings Moun tain-Grover-Bethware Section — $1,000.00 — Another new source of help for our local needy indigent heart patients. Not connected to the National Heart Assn, or its drive. (8) Kings Mountain High School Band — $3,550.00 — Consolida tion and good leadership have resulted in a 100% increase in the size of our band. Money is needed for uniforms and equip ment. (9) Kings Mountain Rescue Squad — $3,200.00 — Local citizens are becoming increasingly aware of the many services rendered by these local men. ■». <w»** *2; «»««l»’o“co,"*,MT,M,,0' UNITED FUND, BOX 62S KINGS MOUNTAIN. N. C. This Message Sponsored By These Public-Spirited Business and Industrial Firms: %
The Kings Mountain Herald (Kings Mountain, N.C.)
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Nov. 12, 1964, edition 1
14
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