LUSO-American Announces Merger with SPRSI

Luso-American Life Insurance Society (LAL), Dublin, Cal., merged with the Sociedade Portuguesa Rainha Santa Isabel (SPRSI), starting in 2008. SPRSI will retain its name and programs as a division of Luso-American Life Insurance Society.

With this alliance, both organizations will realize significant decreases in the cost of operations; combined financial resources for greater leverage in the production of investment income, anticipated new alliances of people and councils, shared fraternal events, and a larger pool of experienced and qualified persons to meet the personnel needs of one organization.

Over its 109-year history, SPRSI has served women of all ages through its 84 councils throughout California, and issued more than 7,000 life insurance certificates and annuity contracts. The SPRSI merger will add over $10 million in assets and over $2 million in surplus to the LAL books.

LAL began in 1868 as the Portuguese Protective and Benevolent Association of the City and County of San Francisco. In 1957 it merged with the Portuguese Continental Union of the State of California (UPCEC), which had been organized in 1917, in Oakland, but had expanded to the east coast with several new councils. The new society was given the name United National Life Insurance Society, to be known in Portuguese as the Sociedade Uniao Nacional, or “SUN”. The California State Council voted to call itself the Luso-American Fraternal Federation, a division of SUN. United National Life Insurance changed its name to Luso-American Life Insurance Society in 1993. In 2002, the society merged with the Portuguese Continental Union of the United States of America (PCUUSA) of Boston, Massachusetts.

For more information about LAL, visit www.luso-american.org.

PNA District 12 Holds Annual Spelling Bee

On Sunday, February 17, 2008, District 12 of the Polish National Alliance held their Spelling Bee at Archer Park in Chicago, Illinois. PNA Commissioners of District 12 Barbara J. Wesolowski and Roman Bucon invited all junior high school students (7th and 8th graders) to compete in the spelling bee. Six contestants participated in this year’s event, which included Courtney Kargol from Lodge 2394 who lives in Montgomery; Alexandra Lyewski from Lodge 2927, who lives in Lemont; Monica Plukarski of Lodge 1824, who lives in Oak Forest; Matthew and Nicholas Domalewski from Lodge 1824, who live in Lockport; Tyler Popp from Lodge 1824, who lives in Hickory Hills. PNA District 12 covers the whole south side of Chicago, as well as the southwestern suburbs.

Commissioner Wesolowski opened the program introducing those attending, who included PNA National Directors Christine Domalewski and Arthur Trybek, Commissioner Roman Bucon, Barbara Sullivan, former St. Damian School Assistant Principal, who was the pronouncer, and judges: Theresa Yoksas, a retired teacher from De LaSalles High School, and Irene Spiewak, Vice President of the District 12 Women’s Division. PNA Vice Presidents Teresa Abick and Paul Odrobina wished the contestants the best of luck, success and thanked them for participating in the spelling bee.

After a few rounds of fierce competition, the final contestant standing, Tyler Popp spelled “Geography” correctly to become the winner of the 2008 District 12 Spelling Bee. Second place went to Alexandra Lyewski and third place went to Matthew Domalewski. The 8th grade winner of the competition will go on to compete in the PNA National Spelling Bee to be held April 19th in Chicago. Since Tyler was a 7th grade student and the Nationals only require 8th grade students to compete, Alexandra will be representing District 12 at the National Spelling Bee.

The National Spelling Bee will host the winners from the seventeen districts within the United States. The winners received cash prizes and each participant received a certificate for outstanding efforts and participation.

For more information, visit www.pna-znp.org.

Unity Life Policyholders Approve Demutualization Sponsored by Foresters

98.9% of eligible policyholders voting on proposal say “Yes.”

Unity Life of Canada policyholders voted to approve the company’s proposal to undergo sponsored demutualization at a special meeting of eligible policyholders held today in Mississauga.

The vote follows the announcement of August 9, 2007, that Unity Life and Foresters™ had entered into an agreement under which Foresters will acquire Unity Life and Unity Life will represent Foresters in the Canadian market as a member of the Foresters group of companies. Under the agreement, Foresters is sponsoring the demutualization of Unity Life and will subsequently subscribe to Unity Life for common shares, payable in cash. The proceeds will be used to pay eligible policyholders. Subject to approval by Canadian regulatory authorities, Unity Life will become a wholly owned subsidiary of Foresters. The transaction is expected to be completed in April 2008.

“The decision taken today by Unity Life policyholders represents an important milestone for Unity Life,” said Tony Poole, Unity Life President and CEO. “It’s great news for the company and all of its stakeholders as it moves us closer to concluding our partnership with Foresters. This partnership will provide the financial backing and access to capital we need to realize our Canadian growth strategy, while continuing to operate under the Unity Life brand in the Canadian market. Equally important, it will allow us to provide greater product selection and valuable Foresters benefits to our future clients.”

Mr. Poole noted that, upon completion of the sponsored demutualization, approximately 15,000 eligible Unity Life policyholders will be entitled to receive cash payments in exchange for their voting control and their share of the value of Unity Life. The average payout will be approximately $3,300.

The final result of today’s vote shows that, of the eligible policyholders who voted, over 98.9% were in favor of the proposed demutualization.

For more information, visit www.foresters.com.

Giving Money is Still Easier than Giving Time

Thrivent Financial survey finds age, income, education and employment affect attitudes.

For the third consecutive year, Americans say that giving one’s money to a charitable cause is easier than giving one’s time. According to a Thrivent Financial for Lutherans’ national survey of 1,000 adults, 52 percent of Americans said it is easier to give money, while 30 percent said it is easier to give time. Sixteen percent said both are equally easy to give.

The survey showed that age, income, education and employment status affect attitudes about giving. Fifty-eight percent of seniors (age 65+) and 53 percent of pre-retirees (age 55 to 64) favor giving money over time versus 44 percent for young adults (age 18 to 24).

Young adults are also three times more likely than seniors (age 65+) to say giving one’s time is easier than giving money (49 percent versus 15 percent). They are also twice as likely as pre-retirees (49 percent versus 24 percent) to find giving time easier.

While a plurality of all income groups favor giving money, 56 percent of those earning $75,000 or more said giving money is easier versus 45 percent for those earning less than $25,000. Conversely, 58 percent of those with a high school education or less said giving money to a charitable cause is easier than giving time. This compares to 49 percent of those with a college degree or some college and 47 percent of those with a post-graduate degree.

Those working full-time and retirees were most apt to say giving money is easier (58 percent and 54 percent, respectively), while those working part-time (42 percent) and those not employed (38 percent) were most apt to say giving one’s time was the easier.

Telephone interviews were conducted for Thrivent Financial by Synovate TeleNation Research, Chicago, Ill., between Nov. 30 and Dec. 2, 2007, among a nationwide sample of 1,000 U.S. adults aged 18 and older. The margin of error for questions posed to all 1,000 respondents is +/- 3 percent.

For more information, visit www.thrivent.com.

Gleaner and Orphan's Benefit Celebrate 40 Years

Gleaner Life Insurance Society has been assisting families through the Orphan’s Benefit for 40 years.

In 1968, the benefit was introduced to Gleaner members and in 2008 Gleaner Board members approved a benefit increase.

The Orphan’s Benefit provides payment to the orphaned child or children’s guardian through 18 years of age, and then provides substantial payments for the child to attend four years of college. Both parents must have been Gleaner members for their dependents to receive this benefit.

In 2008, the orphan’s scholarship has been increased to $2,500 per child, with a maximum of $10,000 for higher education.

For more information, visit www.gleanerlife.org.

Previous Page