Spring 2020 | Protecting families through life insurance since 1894. | Gleaner Life Insurance Society
20/20 Vision:
The life cycle of a financial plan p. 24
Fixed annuities: Safety plus growth p. 6
Recap of Florida events p. 4
75 years ago: Gleaner Life members in World War II p. 21
CELEBRATE
EASTER We at Gleaner Life hope your Easter is filled with the love and forgiveness poured out for each of us. In anxious and uncertain times, may we find family protection in the Passover, true friendship at the cross, and new life at the empty tomb!
Happy Easter!
Contents
Spring 2020
Features 4
Gleaner members enjoy sunny winter events A getaway cruise to the Bahamas and a Family Day at The Florida Aquarium gave members chances to experience both sides of Florida plus the West Indies.
4
6
Fixed annuities offer safety and growth Market drops can quickly erase much of a person’s investment. Gleaner Life solutions include fixed annuities with competitive current interest rates and a minimum guarantee.
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Gleaner Life’s financial year in review Gleaner Life Insurance Society’s financial strength showed significant growth in 2019.
6
24
Gleaner 20/20 Vision: Life Cycles Spring’s preparation for new growth marks another stage of nature’s life cycle, each of which presents special opportunities and risks.
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Congress passes SECURE Act The ages to both contribute to and draw from your IRA or 401(k) have been extended, thanks to a major new federal law now in effect.
30
Cancer rates in decline Better detection, prevention and treatment are leading to lower mortality numbers from American adults’ No. 2 leading cause of death.
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Do you enjoy searching for Gleaner’s wheat stalk? It's hidden in every issue of Forum Magazine. Having difficulty finding the wheat stalk in this issue? Look on Page 8 for the answer.
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30
RECORD DROP IN U.S.
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CANCER MORTALITY RATE
Forum Magazine is made from soy-based ink products and is recyclable. Make a small impact on conservation by recycling this publication or passing it on to a friend. Forum Magazine \ Spring 2020 \
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ou
FORUM
Contents
Spring 2020 / V. 125 / No. 2 Senior Officers Kevin A. Marti, FSA, CLU, ChFC President and CEO
D. Arell Chapman, CRISC, FLMI
Senior Vice President, Chief Operations and Technology Officer
Deborah K. Elliott, SHRM-SCP, SPHR Senior Vice President, Human Resources, Community Engagement and Secretary
ome
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16
Todd M. Warner
Senior Vice President, Chief Financial and Investment Officer
Anthony D. Golden, CLU, ChFC, RICP, FIC Vice President, Sales and Gleaner Financial® Barbara Janowski, RN, ALMI
Vice President, Insurance Operations and Chief Underwriter
Kaylene S. Armstrong, FLMI
Vice President, Finance, Controller
the Hospice of Lenawee Hospice Heart pice services to those who have little or no
and Treasurer Officers
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on-profit organizations. Your gift makes a nder-insured or uninsured.
3
Thoughts from the president
11 Approved amendment 21 History Highlight: 75 years ago, WWII’s end
Assistant Vice President, Member and Community Engagement Chuck Monahan, ALMI
At a glance
tters were received from other groups that donations: Housing Help of Lenawee, YMCA of News & reviews y, and the Lenawee County Historical Society)
Jaime Linden, FIC
Assistant Vice President, Marketing and Communications
Giving back 16 Arbors in Action
Interests 10 Upcoming events 32 Korinne’s Korner
28 50- and 75-year members 35 Benny’s Page 29 Letters from members
Board of Directors Terry L. Garner, Chair
Mark A. Wills, Vice Chair
Donna K. Baker | Russell E. Cunningham Margaret M.S. Noe | Daniel R. Sutton Frank Dick, Chairman Emeritus Supreme Arbor Officers Dick Hadden, Supreme Chief Gleaner
Norma Garner, Supreme Vice Chief Gleaner Linda Ruehrmund, Supreme Chaplain Deborah Rydberg, Supreme Conductor Cheryl Jones, Supreme Guard National Headquarters 5200 West U.S. Highway 223 P.O. Box 1894
Adrian, Michigan 49221-7894
p 517.263.2244 or 800.992.1894 f 517.265.7745
www.gleanerlife.org
forum@gleanerlife.org Forum Magazine is produced quarterly at Gleaner’s Home Office by Dustin Everden, Mark Lenz, Chuck Monahan and Julie Tison. For questions regarding this publication, please email forum@gleanerlife.org.
Hours Monday - Friday: 8 a.m. - 4:45 p.m. EST
Thoughts from the president Dear valued Gleaner members: We closed out what was arguably one of the best years in our Society’s storied 125-year history this past December. We achieved our second consecutive year of strong life new business growth (136% increase in first year and single premium combined in 2018, followed by 50% growth in 2019). In addition, in 2019, we also had an outstanding year of annuity first year and single premium new business growth (51%). Thank you to our members and our agent representatives for the trust you have placed in the Society and our employees to help protect you and your family’s financial security. We value your membership and your engagement in your communities, none of which could be achieved without your continued support! Given what we are going through as a nation with the COVID-19 pandemic outbreak, it is important that you know your Society is stronger than it has ever been. While ensuring the safety and well-being of our employees, we are here to promptly serve your needs for the “essential” business of our members and agents – processing premiums, paying death claims, partial withdrawals, and policy loans, and continuing to pay competitive interest rates on your account values. On pages 12-13, you will find the detailed information on our 2019 financial results — with and without the impact of the annuity reinsurance treaty we entered into November 1, 2019, to improve our overall risk profile by reducing our long-term interest rate guarantee risk. Senior Vice President, Chief Financial and Investment Officer Todd Warner explains on page 14 how the treaty impacted our financial statements, in particular the requirement to record the $275 million of 3.5% annuity reserves ceded as negative annuity renewal premiums. You will note that the bottom-line member surplus impact to the Society was extremely positive, even after we did some $11 million of annuity reserve strengthening and fully funded our frozen defined benefit employee pension plan in the amount of $7 million, among other things. Both of these items leave us well positioned for future financial strength and success. We ended 2019 with record member surplus of $106.2 million.
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Rating agencies, A.M. Best and KBRA, were very pleased with our new business growth in 2019, as well as the enterprise risk management steps we took to protect the Society and its members. So much so, that our rating was affirmed at “A-” with a Stable Outlook, despite the ongoing challenges of continued low interest rates. With respect to the future: “The future belongs to those who believe in the beauty of their dreams.” Eleanor Roosevelt Former First Lady of the United States (1933-1945) I would add it also helps to have the right team, and the right plans. With the help and continued support of our Board of Directors, our valued members, our high-quality agent representatives, and our dedicated employees, we feel confident 2020 will be another great year for our Society! We hope to see you at an upcoming Gleaner Family Day event — COVID-19 permitting — enjoy!
Fraternally, Kevin A. Marti President & CEO
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Event Recap (Caribbean cruise, Florida Aquarium)
In March, 101 Gleaner members and friends embarked on a Gleaner Getaway cruise to the Bahamas and CocoCay. Cruise attendees enjoyed exploring the beautiful surroundings at the port stops and exploring all of the amenities aboard the cruise ship. Gleaner also kicked off the 2020 Family Day schedule with a day at The Florida Aquarium in Tampa. Nearly 100 Gleaner visitors enjoyed bay creatures such as sharks and moon jellies to wetland life including otters, alligators and exotic plants. Plan to join us at our other 2020 events! Read more on Page 10.
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Fixed annuities grow even in market drops Stock markets fall, but Gleaner Life’s fixed and indexed annuities offer safety plus reliable growth. Investments tied to stock markets can quickly lose much of their value. Many people worldwide were reminded of that late this winter. From March 8 to March 16 — just over one week — several stock market indices lost 20 percent or more of their total value. Over a little more than a month (Feb. 12 to March 16), all three major U.S. stock market indices fell 30 percent. Some stocks’ prices crashed by more than 40 or even 50 percent in 24 hours. Worldwide, investors saw trillions of dollars of value wiped out by sudden concerns about the coronavirus outbreak and oil market instability. Market panics over the centuries have led generations of people to seek alternatives. In fact, the U.S. market panic of 1893 and subsequent depression played a role in Gleaner Life Insurance Society’s formation in 1894. Society founders succeeded in providing farmers with the insurance protection and fraternal support needed in hard times.
Gleaner Life offers several annuities that combine safety and growth. The Gleaner Life Foundation Series® annuities, introduced in 2013, are examples of fixed annuities with guaranteed growth. These annuities are taxdeferred and offer a competitive current interest rate with a minimum guarantee. The annuities build value over time and can provide guaranteed retirement income later in life. Rates are typically guaranteed for at least the first year after purchase. The rate depends on several factors including the amount of premium paid at the time that the annuity is issued. Buyers can choose several other options to best meet their needs. One of these is the type of income stream, or “annuitization,” they prefer to receive: •
Fixed period — Equal payments are made to the annuitant over a specific time period (e.g. 10, 15 or 20 years, etc.). If the annuitant dies before the end of the payment period, the annuitant’s beneficiary will receive the balance of the remaining payments due. All payments from Gleaner stop at the end of the fi xed payment period.
•
Fixed amount — The annuitant chooses a specific payment amount as well as the payment frequency.
While lost share value might be rebuilt over time, people approaching retirement — or already at that stage — may be unable to afford a significant investment loss. What options can they seek for safety while at the same time ensuring their nest egg will grow? Fixed annuities are one solution to consider. These financial solutions offer a competitive current interest rate with a minimum guarantee. They are safe because fixed annuities are not tied to market conditions, and they provide a regular income stream once the annuity owner chooses to start the annuity’s payout.
www.gleanerlife.org
Gleaner will pay that amount periodically to the annuitant until the annuity value is depleted.
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•
Life only — The annuitant may choose to receive periodic payments for the remainder of his or her life. The annuitant can never outlive the payment period. At the time of the annuitant’s death, all payments from Gleaner cease.
Purchasers can also choose different types of annuities depending on how long they expect to wait before making large withdrawals. On top of their interest gains, some pay loyalty bonuses (issued at time of death) after an owner has held them for five years. In addition, purchasers can choose which annuity options best fit their current financial status. For example, the Foundation 9 can be opened for as little as $1,000 with minimum monthly premiums of $100. The Foundation SP9 is for larger, single-premium deposits and offers higher interest rates. This has long-term advantages because single-premium annuities, like Foundation SP9 and MYGA6, start the annuity with a larger foundation and build value more quickly than periodic annuity contributions. The Foundation MYGA6 also is opened with a single premium, plus it carries a guaranteed minimum interest rate for six years. Another secure Gleaner Life option is the Strategic Choice Indexed Annuity®. , The annuity s indexed account is tied to the movement of an external index. Th is annuity includes a minimum floor-level interest rate (0.25%) to ensure growth every month regardless of whether stocks go up or down. Certificate holders can
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also allocate funds to a fi xed account that functions just like a fi xed annuity. Th is balance allows for maximizing long-term growth while shielding against market loss. They have full flexibility in choosing how much of their premium goes into the market-indexed portion of their account. Either way, their investment is safe and their gains can be tax deferred. Financial panics are recurring events throughout American history. Stock market swings may produce some winners, but they also leave a large number of losers. Fixed annuities from Gleaner Life offer a safe haven. They begin with a foundation of security and, on top of that, can promise a structure of positive growth. Talk with your agent to learn more about Gleaner Life annuity solutions. The Gleaner Life Foundation Series® Form Nos. FPDA9-13, ICC18-MYGA6 and ICC15-SPDA9, all with state-specific variations. Strategic Choice Indexed Annuity® Form No. ICC18-IFPDA7 with state-specific variations.
Did you find the wheat stalk? In this issue of Forum Magazine, the wheat stalk is hidden on Page 26 in the fall tree photo.
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blessed It is more
to
GIVE...
#GIVEANDGROW Now more than ever, Gleaner Life’s Give and Grow program gives benefit members an opportunity to assist their communities with charitable service projects. Due to the COVID-19 pandemic and restrictions on gatherings, Gleaner is waiving its requirement for project teams, and allowing benefit members to apply for a solo project. A few possible examples: •
Enhance school lunches.
•
Provide books to children.
•
Purchase academic programs for school-aged children.
•
Buy gift cards for first responders, nurses, doctors, people on the front line.
•
Purchase items for food pantries or homeless shelters.
Think about a need in your community and how you can help, then apply online. Projects are awarded to members age 12 and up who own a Gleaner life insurance or annuity certificate in our 16 licensed states*. Gleaner gives: •
The freedom to choose how you want to give and grow.
•
A prefunded $250 Visa card for your project.
•
May apply once per year, per member.
Learn more and apply online by logging in to the member portal at www.gleanerlife.org/giveandgrow.
receive. ...than to
Acts 20:35
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#giveandgrow
*Gleaner Life Insurance Society is licensed in AZ, FL, IA, IL, IN, KS, KY, MI, MO, NE, OH, PA, TN, VA, WI & WV.
Upcoming Events 2020 Family Days July 11: Cedar Point Sandusky, Ohio
July 25: Chicago Riverboat Cruise Chicago, Illinois
Aug. 15: Fort Wayne Children’s Zoo Fort Wayne, Indiana
Oct. 25: Railroad Fall Color Trip Coopersville, Michigan
2020 getaway trips Aug. 28-30: Safari to Kalahari Sandusky, Ohio
Oct. 12-15: Bus Getaway to Ark Encounter and other Kentucky and Indiana sites Visit www.gleanerlife.org/events for updated information. All of our Summer 2020 Family Days events are still scheduled to occur. If we cancel a Family Day event due to COVID-19, we will provide a full refund to all registered guests. 10
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Gleaner members approve constitution changes Brought forth by the Law Committee, members voted on constitution changes intended to help address upcoming corporate governance regulations, as well as specific recommendations received by the Society from the Michigan Department of Insurance and Financial Services at the conclusion of our recent triennial examination. Members approved the proposed changes. Approved revision of Section 3 of Article 2 Section 3. The Board shall appoint a Nominating Committee and a Chair of that Committee. The Nominating Committee is an ad hoc committee consisting of not less than five benefit members who are in good standing and who are not currently serving as members of the Board of Directors. A duly appointed Nominating Committee shall serve solely with respect to the meeting of the Supreme Arbor for which it is appointed. The Nominating Committee is charged with carrying out those duties assigned to it in the Nomination Process Policy established by the Board of Directors, including issuing a report to the Board of Directors setting forth the Committee's evaluation of which of the persons seeking nomination to the Board meet the Director Qualification Guidelines established by the Board of Directors, with attention paid to how each candidate's qualifications, expertise and experience meet and promote the needs of the Society in those business areas required by regulatory authorities and applicable law. The report of the Nominating Committee shall be received and reviewed by the Board of Directors, and the Board shall place such names as are approved by the Board in nomination before the Supreme Arbor. Those members who have met all of the qualifications as specified by the Board of Directors shall have their names placed on the ballot. The Board may nominate more qualified benefit members for election to the Board at the Supreme Arbor than there are open positions on the Board. Nominations for Director may also be received from the floor of the Supreme Arbor, as long as they have met all of the requirements of Sections 3 and 5 of this Article 2. www.gleanerlife.org
Approved revision of Section 5 of Article 2 Section 5. Any benefit member who is currently in good standing in the Society for a period of at least two consecutive years, is not less than 21 years of age, has not attained age 72 at the time of the election, and who satisfies all of the requirements of this Section 5 shall be eligible to be elected to the Board of Directors, provided, however, that no person who was a licensed life insurance agent of any company, including a fraternal benefit society, or an employee of the Society at any time during the four-year period preceding an election shall be eligible to be elected to the Board of Directors at that election. In addition to the foregoing requirements, to be eligible to be elected to the Board of Directors at a meeting of the Supreme Arbor, the benefit member must concurrently have: (i) completed the Board of Directors Application Form, as established by the Board from time to time, and delivered such completed form to the Secretary of the Society (addressed to the Secretary at the Society's home office) not less than six months prior to the meeting of the Supreme Arbor to which it relates; (ii) complied with the terms of the then current Nomination Process Policy established by the Board of Directors applicable to the forthcoming election, including the interview process with the Nominating Committee; and (iii) consented in writing to a background check on terms established by the Board of Directors from time to time and set forth in the Board of Directors Application Form.
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Gleaner Life Insurance Society Statements of the Society’s Financial Condition December 31, 2019
Gleaner Life Insurance Society’s fi nancial strength continued to grow significantly in 2019. We repeated substantial growth in both our life and annuity new business, and executed a new annuity reinsurance treaty with Heritage Life Insurance Co. (see Page 14 for an explanation of our annuity reinsurance agreement). Total premium increased $15.1 million over 2018 (after adjusting for ceded annuity reinsurance premium). First-year life premium including single is up $711,000 (49.6%), life premium in total is up $1.1 million (15.5%). First-year annuity premium including single is up $14.1 million (51.2%), annuity premium in total is up $14.0 million (39.0%). Much of our increased premium is due to sales of our indexed universal life and indexed annuity products. In addition, our life insurance issued experienced a 28% increase over last year’s levels. The Society’s balance sheet grew much stronger this year, with a high-quality investment portfolio and a historic member surplus position. The Society’s assets are $1.278 billion as of Dec. 31, 2019, a 2.8% increase from 2018. Our achievements also include marked improvement in our RBC ratio of 932%, compared to 568% last year. These achievements were reassuring as interest rates declined and continue to remain historically low. Gleaner’s stable fi nancial foundation supports our members’ fi nancial and community engagement goals and our future business initiatives. We experienced a $11.2 million decrease in member benefits paid compared with the previous year (after adjusting for ceded annuity reinsurance). Annuity and life surrenders decreased $5.1 million and $166,000, respectively, while life and annuity death benefits decreased $6.2 million. Gleaner’s investment portfolio continued to perform well in 2019 despite a $4.6 million decline in net investment income from continuing low interest rates. The Society’s diversified investment portfolio is built on prudent policies and practices. Gleaner’s conservative philosophy and professional management provide a sound foundation for our investments. The Society’s bond portfolio is 98.7 percent investment-grade quality and represents 92 percent of our investments. We have an overall bond portfolio rating of “A+” as of Dec. 31, 2019. Mortgage loans, certificate loans, cash and short-term investments,
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stocks, real estate and other invested assets (including derivatives) comprise the remaining portions of our investment portfolio. As of year-end 2019, we have a small position ($3.8 million) in preferred and common stocks. Our common stock holdings include capital stock requirements ($362,100) for our membership in the Federal Home Loan Bank of Indianapolis (FHLBI). Gleaner is a member of FHLBI to enhance our liquidity position and have ready access to reliable, low-cost funds. Also, the Society is proud to report it continues to operate with zero debt! Gleaner’s 2019 surplus is our highest year-end amount ever recorded at $106.2 million — an $11.6 million increase from year-end 2018. This is our seventh consecutive year with a surplus increase, and our surplus has increased $25.4 million since 2012. The Society’s surplus ratio (amount of assets for each $100 of liabilities) of $109.07 also remains above the average of 25 leading life insurance companies ("Independent Comparative Report," Standard Analytical Service Inc.). Our surplus grew as a result of net income of $19.5 million in 2019, compared with net income of $2.0 in 2018. The increase in 2019 was due to a combination of factors in addition to our annuity reinsurance treaty (see Page 14 for a detailed explanation). The Society has had seven consecutive years of positive net income. Some of the factors in our net income achievements in recent years are containment of operating expenses, a disciplined approach to setting credited interest rates and appropriate pricing of new financial solutions in the low interest rate environment. Successful management of our investment portfolio has also resulted in fewer realized losses. As of December 2019, our A.M. Best financial strength rating was affirmed at “A- (Excellent)” with a stable outlook. According to A.M. Best, our current rating is assigned to insurance companies that have an excellent ability to meet their ongoing insurance obligations. A.M. Best is a global full-service credit-rating agency dedicated to serving the financial and health care services industries. KBRA also affirmed our "A-" rating with stable outlook in April 2020. The Society has never been stronger than it is today.
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Balance Sheets ASSETS
2019
December 31
2018
Investments Bonds Stocks (preferred and common) Mortgage loans on real estate Real estate, net of depreciation Cash and short-term investments Certificate loans Derivatives Other invested assets
$1,111,233,646 2,362,100 3,813,616 1,301,607 94,972,067 31,453,537 665,886 14,908,314
$1,162,155,489 2,043,605 2,899,576 1,427,921 13,102,563 31,823,861 0 13,771,117
The Society helps our members achieve fi nancial security and demonstrates our fraternal spirit in the communities in which we live and work. We are focused on maintaining a strong and improving fi nancial position through all types of economic conditions. The Society has committed to protecting our members and maintaining your trust and confidence as we begin our 126th year as your fraternal benefit society! Gleaner will continue to make responsible decisions in the best interests of our valued members and the Society’s long-term fi nancial strength.
Total Assets
$1,277,561,986
$1,242,963,107
$1,120,620,355 36,238,091 8,490,900 6,014,590
$1,125,424,866 8,817,389 7,573,753 6,541,926
106,198,050
94,605,173
$1,277,561,986
$1,242,963,107
Kaylene S. Armstrong, FLMI Vice President, Finance, Controller and Treasurer
Total Income
These high-level results, and our fi nancial strength improvement are attributed to the Society’s management team, and the vital relationships with our business partners.
Todd M. Warner Senior Vice President, Chief Financial and Investment Officer
Invested Assets Accrued investment income & other receivables Other assets
LIABILITIES AND SURPLUS
Certificate reserves and contract liabilities Accrued expenses and other liabilities Interest maintenance reserve Asset valuation reserve Total Liabilities Surplus Total Liabilities and Surplus
INCOME
Net premium income: Life Annuities Accident and health Net investment income Other income
EXPENSES
Increase in certificate reserves Member benefits Commissions Other operating expenses Refunds to members Gains released from IMR due to reinsurance
Income from Operations Net realized investment gains (losses) Net Income
SURPLUS ACCOUNT
Surplus at December 31, previous year Net income Other surplus adjustments Net change in surplus for the year
Surplus at December 31, current year www.gleanerlife.org
1,171,363,936
Statements of Operations
Total Expenses Audits were conducted as of December 31, 2019 and 2018 by Strohm Ballweg, LLP.
1,260,710,773 16,131,712 719,501
2019
1,227,224,132 15,374,738 364,237
1,148,357,934
December 31
$ 8,321,087 (225,752,898) 17,270 50,437,020 2,065,129
2018 $7,207,315 35,955,730 18,764 55,011,425 896,162
(164,912,392)
99,089,396
(288,629,792) 104,684,140 3,430,656 13,362,09 1,158,005 (19,208,341)
(40,234,122) 121,210,321 2,582,576 11,949,896 1,554,766 -
20,290,849
2,025,959
(185,203,241)
(823,684)
97,063,437
(52,592)
$19,467,165
$ 1,973,367
$94,605,173 19,467,165 (7,874,288)
$93,870,797 1,973,367 (1,238,991)
11,592,877
$106,198,050
734,376
$94,605,173
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Annuity reinsurance December 31, 2019
In the winter 2020 edition of Forum Magazine, we introduced the concept of annuity reinsurance — insurance for insurance companies — to our members and agents. In the current edition, we want to describe this agreement in greater detail. Your management team began investigating the potential benefits of annuity reinsurance in early 2019 and actively began to seek out reinsurers in the summer. We partnered with a consulting firm (Aon) to assist us in negotiating the best agreement for Gleaner Life Insurance Society and its members. Ten different insurance companies were considered for this block of annuities. Our criteria for the reinsurer we selected included:
payments on the 3.5% annuity block. It is important to understand that the Society is still responsible for the guarantees in each and every annuity certificate reinsured.
life of the 3.5% annuities (per SAP).
Additionally, Gleaner received a ceding commission of $8.4 million from Heritage.
This large increase in surplus provided management with an opportunity to further strengthen our balance sheet. We elected to reserve remaining annuity certificate reserves at full account value. This decreased surplus by $12.6 million and our 2019 operating income by $1.5 million ($11.1 million was related to periods prior to 2019 thus only impacting surplus).
There is no impact to you as a member if you hold one of the annuities included in this treaty. •
Your membership in Gleaner remains unchanged
•
Gleaner Life Insurance Society staff will continue to administer your annuity
•
Annuity payments will continue to be paid by Gleaner The terms of your annuity contract are unchanged
•
Strong financial health
•
Solid reputation as a trustworthy partner
•
•
Excellent reinsurance treaty
•
•
Willing to reinsure our entire block of 3.5% fi xed annuities totaling $275 million of reserves
On Nov. 1, 2019, the Society entered into an annuity reinsurance agreement with Heritage Life Insurance Co., a reinsurance firm with total adjusted capital of $1 billion and domiciled in Arizona. We have developed an excellent working relationship with Heritage. Under the terms of this agreement, Gleaner liquidated approximately $275 million of investments and realized capital gains of $19.2 million. These funds were transferred to a segregated account under the custody of Gleaner. Heritage now directs how these funds are invested according to a contractual investment policy agreed upon by both parties. This investment policy limits the risk that Heritage can take and prohibits unacceptably high-risk investments. Heritage accepts the risk of investing these assets and guarantees the benefit 14
\ Spring 2020 \ Forum Magazine
Gleaner remains ultimately responsible for your annuity’s performance
This treaty had a material favorable impact on our financial statements. We have included our balance sheets and income statement as of Dec. 31, 2019, with before, and after, transaction presentations in accordance with Statutory Accounting Principles (SAP), established by the National Association of Insurance Commissioners (NAIC). The amount of ceded reserves ($275 million) must be recorded as negative premium revenue (per SAP), which is then offset by corresponding decreases in certificate reserves (expense). These entries have no impact on income. The $19.2 million of realized gains on the sale of investments is reported as a one-time increase to operating income (per SAP). The $8.4 million of ceding commissions will be recorded as income over the actuarial remaining
Gleaner Life Insurance Society’s surplus increased by $27.6 million as a result of the reinsurance agreement.
We also elected to fully fund the frozen defined employee benefit pension plan. This decision required cash of $7.2 million, reduced our pension liability by $5.6 million, and decreased surplus by $1.6 million. The benefit of making these strategic decisions reduces future expenses, thereby allowing Gleaner to continue to be competitive from a product rate perspective in this historically low interest rate environment. Your management team continues to seek innovative ways to continually assure the financial strength of the Society, for the long-term benefit of all members. The annuity reinsurance treaty simply adds another layer of protection for the Society on some of our older Gleaner annuities, many of which feature long-term guarantees well above the credited interest rates available on most of our more recently issued annuity certificates. Kaylene S. Armstrong, FLMI Vice President, Finance, Controller and Treasurer Todd M. Warner Senior Vice President, Chief Financial and Investment Officer
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Balance Sheets (Unaudited)
ASSETS Investments Bonds Stocks (includes GFC and FHLBI) Mortgage loans on real estate real property, net of depreciation Cash and short-term investments Heritage Reinsurance Funds Certificate loans Derivatives Other invested assets Invested Assets Accrued investment income and other receivables Other assets Total Assets LIABILITIES AND SURPLUS Certificate reserves and contract liabilities Funds withheld - Reinsurance Accrued expenses and other liabilities Interest maintenance reserve Asset valuation reserve Total Liabilities Surplus Total Liabilities and Surplus INCOME Net premium income: Life Annuities A&H Net investment income Other Income Total Income EXPENSES Increase in certificate reserves Member benefits Commissions Insurance operating expenses (includes AIE service fees) Community Engagement operating expenses Refunds to members (includes Loyalty Bonus on AIE) Gains released from IMR due to reinsurance Total Expenses Income from Operations Net realized investment gains (losses), excluding $3,535,751 transferred to IMR Net Income
SURPLUS ACCOUNT Surplus at December 31, previous year Net income Change in Reserve Valuation Basis Change in Pension Funding Deferred Gain on Reinsurance (ceding commission) Other surplus adjustments Net change in surplus for the year Surplus at December 31, current year www.gleanerlife.org
2019 Without Annuity Reinsurance
December 31 Annuity Reinsurance Initial Transaction
2019
Balance Sheet Strengthening
Final
(Amounts Rounded)
$1,092,033,646 4,562,100 3,813,616 1,301,607 93,772,067 31,453,537 665,886 15,008,314 1,242,610,773 16,131,712 719,501 1,259,461,986 1,108,020,355 8,490,900 6,014,590 1,164,363,936 95,098,050
$(255,800,000)
(2,200,000)
8,400,000 275,000,000
(7,200,000)
(100,000) 27,600,000
(9,500,000)
27,600,000
(9,500,000)
(275,000,000) 275,000,000
12,600,000 (5,600,000)
$836,233,646 2,362,100 3,813,616 1,301,607 94,972,067 275,000,000 31,453,537 665,886 14,908,314 1,260,710,773 16,131,712 719,501 1,277,561,986 845,620,355 275,000,000 36,238,091 8,490,900 6,014,590 1,171,363,936 106,198,050
$1,259,461,986
27,600,000
$27,600,000
7,000,000 (16,500,000) (9,500,000)
$1,277,561,986
$8,321,087 49,247,102 17,270 50,437,020 2,065,129 110,087,608
(275,000,000)
-
(275,000,000)
-
$8,321,087 (225,752,898) 17,270 50,437,020 2,065,129 (164,912,392)
(15,129,792) 3,430,656
(275,000,000)
1,500,000
11,999,811 1,362,280
(288,629,792) 3,430,656 11,999,811 1,362,280
1,158,005 (8,341) 107,496,759
(19,200,000) (294,200,000)
1,500,000
1,158,005 (19,208,341) (185,203,241)
2,590,849
19,200,000
(1,500,000)
20,290,849
1,767,165
19,200,000
(1,500,000)
19,467,1656
94,605,173 1,767,165
19,200,000
(1,500,000) (11,100,000) (1,600,000)
94,605,173 19,467,165 (11,100,000) (1,600,000)
8,400,000
(2,300,000) (16,500,000) $(16,500,000)
8,400,000 (3,574,288) 11,592,877 $106,198,050
(823,684)
(1,274,288) (492,877) $95,098,050
27,600,000 $27,600,000
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Adrian Arbor (MI) assisted the homeless and others in need by purchasing a new food warming station for The Daily Bread of Lenawee, an Adrian soup kitchen. The station cost $1,395. The long-needed equipment was set up by Daily Bread culinary specialist Calvin Hicks (pictured). Among other things, the arbor also sorted clothes for donation to local charity Foster Closet of Lenawee and took several shifts with Meals on Wheels in November.
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Birch Run Arbor (MI) hosted a group of 24 high school students and one teacher who helped arbor members make tie blankets to be given away at the assisted living center and the rescue mission. The arbor supplied a meal of hot dogs, sloppy joes, chips, and macaroni and cheese. The students worked extremely hard and arbor members were very proud of them. The students volunteered to go to the assisted living center and deliver the blankets in person. A total of 30 blankets were completed. The arbor also delivered Christmas baskets to 16 families in December. Later this year, the arbor is planning to participate in the Birch Run Freedom Festival that follows the community’s Independence Day parade.
Bowling Green Arbor (OH) worked with St. Mark's Lutheran Church to host the Wednesday Night Live dinner Nov. 6 for area residents who are in need. Arbor members purchased and prepared a marinated boneless chicken tenderloin with au gratin potatoes, green beans with bacon, fruit cocktail, salad and dessert. The arbor and church were able to serve over 91 meals. In addition to working with the church — which provided volunteers to help serve and clean up — the arbor also was able to work hand in hand with some students from Bowling Green State University. Most of the students were surprised to learn about Gleaner and their community volunteer work. It was especially rewarding to see them interact with families attending the evening meal. The arbor passed out backpacks to adults and children. The adults received a letter opener, nail file, chap stick, eyeglass cleaning cloth and band aids. The children received a stuffed animal and a comfort blanket in their backpacks.
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Members of Champion Arbor (MI) purchased 22 Christmas cookie tins and filled them with a Christmas candle, Lindt chocolate truffles, a $20 Amazon gift card, and a mom’s devotional book, “Mom Heart Moments” by Sally Clarkson. The arbor invited young mothers from Bethel Christian Church to a Gleaner Arbor Christmas Tea open house after church. Members served tea, coffee, hot cocoa and Christmas cookies and doughnuts. Each mother received her own Christmas tin filled with the goodies and members told them, “We just wanted to bless you moms with something special, to help you to rise above the stress of this season with a blessing just for you.” The moms were very thankful.
Grand Arbor (MI) members came together Jan. 12 to pack food for Hand 2 Hand, a volunteer organization that provides lunches on weekends for children who otherwise would probably go hungry. Members set up tables and made an assembly line with food and packed lunches for the Sparta elementary school and the middle school. The activity followed the arbor’s Nov. 9 event, a hands-on experience with the Rockford Equest Center for Therapeutic Riding. The center was rented, the public was invited to a guided ride on a horse, brushing and grooming a horse and equestrian education. A hot dog luncheon was served, and there was face-painting and poster coloring for children.
Harrison Arbor (OH) donated $200 in November to each of four food banks in the county in anticipation of the holidays. The groups were Shalom Food Pantry at United Church of Christ, Holgate; Trinity Lutheran, Malinta; St. Peter’s Lutheran, Holgate; and St. Vincent DePaul, Napoleon. The arbor also selected other organizations to receive arbor funds at the January meeting. They were Henry County Humane Society, Henry County Hospital Foundation, OSU Extension Office, Hospice, Salvation Army of Henry County, Women’s Resource Center and Henry County Relay for Life. Hawthorne Arbor (IN) presented checks to community groups at its terrific Nov. 10 turkey dinner, which had 55 people in attendance. Checks for $150 were given to six churches, four trustee offices, Toys for Tots and the St. Jude Women’s Center. The local VFW post received a $500 check. Members of the Cedar Lake Fire Department were then brought up and presented with a check for $2,000. The firefighters were shocked by the amount, and repeatedly thanked arbor members. Some of the arbor’s other activities included putting up and taking down flags on the graves of military personnel for Veterans Day, the annual vanilla and honey taffy pull, and a food drive with donated items for local pantries. Holland Arbor (OH) volunteered at the Veteran’s Administration to serve coffee, cookies and doughnuts. It also purchased supplies for the month of November: $520 for one month of free coffee, etc. for the veterans. In addition, the arbor hosted an insurance awareness presentation at Owens Community College on the benefits and affordability of life insurance, especially for students ages 18-35. Pizza was served and one student won a drawing for a $500 scholarship. The arbor also sponsored two families at $500 each for the Whitmer Project from Whitmer High School in Toledo and donated $1,000 to an east side Toledo food pantry. Gulf Coast Arbor (FL) didn’t let rainy weather spoil the visit with Santa event Dec. 22 that it had planned for two months. Arbor members came up with a Plan B and talked to the pastor from St. Jude. He allowed the use of his classrooms, so members set up one classroom with Santa’s chair and presents and the other room with refreshments. A table outside between the rooms handled registration and give out labels with each child’s name and gift numbers. 2
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One of several projects undertaken by Ithaca Arbor (MI) was an afternoon of bowling Nov. 10 for local 4-H club members. Nearly 160 people participated. This event was in celebration for all of the accomplishments that these individuals had done in the past year. A check was presented to Patty Macha and Shelley Brittain to cover the cost of the bowling.
Legacy Arbor (MI) members purchased and delivered 14 Thanksgiving meals for local families in need for a November Impact event. After some research, the arbor decided to buy the complete meals from Bob Evans. In addition to the meals, Legacy Arbor members purchased hats, gloves and socks to deliver to each family with their meal. To assemble items, Legacy Arbor hosted a tote event Nov. 25 with other Gleaner Home Office employees. On Tuesday morning, Nov. 26, a few Legacy Arbor members picked up the meals from Bob Evans and delivered them to Madison Schools, where the individual families picked up the meals and totes. The arbor also worked in December with two local senior groups to provide presents for 45 seniors. In addition, the arbor assisted local homeless people and others in need during the annual Project Connect event Jan. 29. Arbor members packed bags with a blanket, hat, gloves, socks and sanitary wipes. Madison Arbor (MI) hosted its annual Santa Paws photo event Dec. 7. The public was invited to bring in their pets for a Christmas photo with Santa and a chance to win a gift basket. Although slightly fewer people attended this year, the event raised more money ($155) for the arbor to donate to the Lenawee Humane Society. Photos were posted on Facebook, which was an easier way for pet owners to obtain them for extra copies and to increase publicity for the next event. Marion Arbor (MI) donated $1,000 in November to the Marion Fire Department to purchase CPR equipment. The donation fit in with safety training, the subject of the arbor’s Dec. 9 presentation at the Community of Aging (COA) site. Justin Halladay, director of Osceola County’s COA, spoke to 32 people about senior safety awareness. Handouts were given, and bingo games were played after the program. The arbor donated 10 gift certificates to local businesses as prizes. On Jan. 23, members invited Pam Bowman, a professional dulcimer player, to join them at Pleasant Ridge Assisted Living.
Mt. Pleasant Arbor (MI) made up and took out trays of cookies to the staff at 10 local nursing homes on Dec. 7. Several of the nursing homes’ staff were surprised that the cookies were for them and were pleased that the arbor had thought of them. The arbor also presented donations to several groups including the Salvation Army and Habitat for Humanity at the meeting.
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Mid-Michigan Arbor (MI) took Faith Lutheran School children to the Henry Ford Museum in Dearborn. The schoolteacher started the trip with a prayer on the bus. The children were very attentive and well-mannered. They were interested in the history they saw and read. They were very excited with the mathematics room and the areas of the museum that let them do hands-on projects including a toy car assembly line and being able to put real parts on a real car. The arbor paid for the Mitchell bus and the arbor’s tickets to the museum for a total of $1,190, while the Faith Lutheran students’ families paid for their children’s tickets to the museum and the “Apollo 11: First Steps Edition” documentary. The teacher and parents were very appreciative, and gave the arbor repeated “thank you’s.” It was a great day. Eight Gleaner members from Ober Arbor (IN) provided cider and doughnuts Dec. 11 for 11 members and two guests of the Starke County Historical Society at the Starke County History Center. Members were able to see the Starke County flag and the computer purchased by the arbor earlier in the year. Arbor members enjoyed visiting with new and old members of the Historical Society.
Riley Creek Arbor (OH) hosted a “free hot cider” table for the Bluffton community’s annual Blaze of Lights parade. The November parade lasted longer than an hour and was filled with floats, bands, dance groups, scouting groups, and other entries. As people watched the parade and stayed in town for stage activities and the annual lighting of the Christmas lights, Riley Creek Arbor had a table across from the main lighting area and offered free hot spiced cider. They gave out 240 cups and it was very well received! Members of River Valley Arbor (IL) completed several great projects at the end of 2019. They gathered Nov. 30 to sort items and pack 70 boxes going to Afghanistan for soldiers in the Illinois Army National Guard’s Company C 3. The boxes were Christmas presents for the troops, who all are from Kankakee County. On Dec. 4 they teamed up with Kankakee Valley Park District and McDonald’s Corp. to do Breakfast with Santa. The arbor paid half the cost of the food purchased from McDonald’s while the Linman family that owns the McDonald’s franchises in Kankakee County paid the other half. The park district provided the building, the decorated room for Santa to sit, and the photos and frames for the photos to go into. Arbor members reported it was a wonderful event that 204 people attended so they will do it again in 2020.
Capital Arbor (MI) supported a family member with a disability, men recovering from addiction, a wonderful nature center, unwed mothers and their babies, and veterans and military families in need through its Nov. 12 Celebration Banquet. Each Samaritan award group received $500. Presenters and their 501(c)3 groups were Dick Herrold/Helping Hands Respite Care, Dale Lambert/Endeavor House. Joan Dailey/Fenner Nature Conservancy (pictured), Jeanne Sayer/ Hannah's House and Bill Dailey/American Legion. The arbor gave its CVR award and a $100 gift card to Gary Tanner, founder of both Michigan Wounded and Returning Warriors and also the Patriot Fund. An update was given by the family of Kanon McVicker, a National Guard member who was injured in a diving accident and assisted in 2019 by arbor members. The arbor also presented $500 each to the Beekman School and to the Mt. Hope Youth Church Camping Fund (a group made up 98 percent of African refugees). Three $25 Meijer gift cards and other items were awarded to other honorees, and everyone including Gary Tanner gave their gift cards to the McVicker family. In total, the arbor reported the day ended with $1,000 distributed through Caring Hands and $3,500 given to other community groups.
Caro Arbor (MI) raised $3,000 for Operation Graduation by hosting a Jan. 18 community Mexican dinner. More than 300 tickets were sold to members of the community for the dinner. Caro Arbor helped buy some of the food. Businesses and parents donated food and desserts. Some of the food was prepared by the Spencer family over two days. Final preparation was completed at the lodge on the day of the event. Senior students and parents made desserts and helped set up, take orders, serve and clean up. The arbor conducted a 50/50 raffle, had a can raffle and also raffled off a toolbox. Prizes were donated by area businesses and parents. The arbor donated a Gleaner cooler full of snacks and Gleaner items. Members reported great community support.
Rolling Prairie Arbor (IN) had several projects and donations to its community including December support for Toys-4-Tots, Boys and Girls Clubs, and Sand Castle Homeless Shelter. At the Dec. 6 meeting, a representative from Toys-4-Tots was given a check and items brought by members. He advised the group gave over 3,800 children 18,000 toys locally last year. A representative of New Day Foundation for cancer kids received a check and items brought by members for local cancer patients’ needs. One of the South Fairfield Arbor (OH) 2019 projects was a Halloween party at the fire station that drew 358 people. Tables and chairs were set up inside for people to eat at, as well as a photo area with bales of stray and decorations, and a coffin with a mannequin in it. Halloween was such a cold evening that community members welcomed the opportunity to come into the fire department, warm up a little, and enjoy hot dogs, chips, doughnuts, cider, milk, and of course, candy. The decor was festive and scary. Lots of families took pictures in the photo area. The costumes were fun with everything from a Christmas tree to a Rubik’s cube to witches and minions. The little witch shown is Gleaner member Isabelle Frank. Sulphur Springs Arbor (IL) gave a presentation about Gleaner Life and distributed checks to area food pantries Nov. 17 at the Coal City Lions Hall. Gleaner agent Clark Barkley gave a short talk about Gleaner products, and all enjoyed a chicken dinner. Donations of $500 each were given to: Bill and Dorothy Locke with Kuzma Care Cottage; Chris and Barb Kent with Coal City Food Pantry; Gordon and Cathy Milne with Help for Hope; Bill and Sandy Ritz with Braidwood Food Pantry; Tony Ritz and Judy Johnson with Caring Closet; Ida Schoth with Gardner Food Pantry; and Carl Johnson, who accepted the check for MVK Food Pantry.
Tri County Arbor (MI) had a wonderful time serving the Harvest Dinner at the Montrose senior center. The senior center ladies prepared a scrumptious Thanksgiving meal. There was so much food that they couldn’t fit everything on one plate for each person. Arbor members helped the seniors to their tables and served them their food. Arbor members enjoyed chatting and joking with them, especially since some of the seniors don’t get a meal like this on any other day. Vulcaneer Arbor (MI) provided snacks for two days at intermission of the school musical “The Lion King.” The arbor was one of the sponsors as it donated $300 toward the rental of costumes. Its chaplain was director for this program, so this year was extra special for the arbor because a few of its youth members were performing. The arbor served 220 people the two nights. Also, the arbor purchased food including large turkeys for large food boxes given to 10 families Nov. 26 before Thanksgiving. Members loaded families’ vehicles, heard their heartfelt “thank you’s” and had the satisfaction of knowing they were helping community families dealing with cancer treatments, lost jobs, a bad auto accident and other hardships. It inspired the arbor to consider hosting a large dinner this year in addition to the food boxes to show support for struggling families. West Lockport Arbor (IL) hosted the Junior Hugs group in a combined meeting Nov. 17 at the home of Molly Babyak where together they made cut and tie blankets. The blankets were for the Will County Child Advocacy Center and the children who they serve. The 29 people who gathered also filled blessing bags for the homeless, shared many of the desserts, and donated a basket to the Hooters cancer research program. Members of Fallen Timbers Arbor (OH) picked up 75 poinsettias from the Lial School, which conducts a poinsettias sale as a fundraiser, and prepared them with bows. The arbor then delivered the plants to Ohio Living Hospice for distribution to those in hospice care.
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HISTORICAL HIGHLIGHTS
WORLD MARKING WORLD WAR II’S END 75 YEARS AGO 2020 is the 75th anniversary of the final battles and the eventual end of the world’s deadliest war. Upcoming 1945 anniversaries April 29: Nazi German and Italian forces in Italy announce their scheduled surrender and U.S. forces liberate the Dachau concentration camp in Germany. April 30: Nazi leader Adolf Hitler commits suicide. May 2: Soviet Union forces announce the fall of Berlin.
National Archives photo 111-SC-210241
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dwindling number of veterans and other survivors are participating in events this year. They're marking the 75th anniversaries of the final battles and closing events of World War II, the deadliest war in history. Many Gleaner Life members remember the war, which was blamed for as many as 85 million deaths. The civilian toll in many nations exceeded that of soldiers killed, and all groups including children were expected to “do their part.” Dispatches about Gleaner Life members in service included Capt. J. Paul Roller, an Army surgeon who was promoted to major and awarded the Silver Cross medal for bravery in April 1943 in Tunisia. The Sugar Ridge Arbor (OH) member, a former www.gleanerlife.org
principal of Metamora’s high school, personally organized and led four ambulances under heavy artillery fire to reach wounded men in battle zones. Army Air Corps First Lt. Raymond O. Carr of South Fairfield Arbor (OH) was honored in 1943 for battles he participated in during 81 operational missions in one year, including 21 over target zones. He was transferred back to the states to become an instructor. Women also served bravely. Army Lt. Elizabeth A. “Betty” McKinnis of Bowling Green Arbor (OH) applied for foreign service after Pearl Harbor. She served as an Army nurse in Australia, India and China and was promoted to captain. Before enlisting, she had graduated at the
May 8: Germany’s unconditional surrender, celebrated as V-E Day by most nations including the U.S. June 22: The Battle of Okinawa ends in the Pacific. Aug. 6: U.S. drops an atomic bomb on Hiroshima, Japan. Aug. 9: U.S. drops second atomic bomb on Nagasaki, Japan. Aug. 15: Japan announces surrender, celebrated as V-J Day by many nations including the United Kingdom, Australia and the Netherlands. Sept. 2: Japan signs surrender documents, celebrated as V-J Day by many nations including the U.S. and China.
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top of her class in nursing school and served for seven months as night supervisor of Community Hospital in Bowling Green. A total of 130 claims were paid for Gleaner members killed in service during the war. The first one paid actually involved Canada’s armed forces. Pilot Officer Harold LeRoy Spangler had joined the Royal Canadian Air Force before the U.S. entered the war. The Sugar Ridge Arbor (OH) member was still with a Canadian air crew when he was killed in Scotland on Sept. 17, 1942. Although it wasn’t known at the time, the first Gleaner Life member to die in service had been Army Pvt. Raymond Robert Diemer of New Bavaria, Ohio, a member of Deshler Arbor. He had volunteered before the war and was assigned to U.S. forces in the Philippine Islands. Diemer was 23 when he died in a Japanese prison camp of malaria and dysentery after the Bataan Death March. The last combat death involving a Gleaner member claimed Army Air Corps 2nd Lt. Walter Roper, 30. He was part of a B-29 Superfortress bomber crew that took off from Tinian Island on June 22, 1945,
and was believed shot down over Japan. Roper had been a member of Bowling Green Arbor (OH). Illness claimed the final Gleaner serviceman on Feb. 20, 1946, when Cpl. Charles Leonard Haas, 35, of Delaware Arbor (OH) died in the Vaughan General Hospital in Hines, Illinois. He had entered a combat engineer unit and had become severely ill while stationed at a Kentucky training post. The 130th and final gold star of the war, however, was for Marine Corps Pfc. Frederick C. Lutz, who actually had perished nine months before his death was reported in the July 1946 Forum. He died when the Japanese prison ship Arisan Maru was sunk Oct. 24, 1944. He was 21 and a member of Gary Arbor (IN). Many servicemembers killed did not have fully “paid up” Gleaner life insurance, so the standard war clause exclusion had been added to their policies. Gleaner Life’s Supreme Council, however, chose to pay all beneficiaries the policies’ full amounts. In all, Gleaner Life paid $109,692 (about $1.6 million in today’s dollars).
Bowling Green Arbor at one point had 57 members serving in the military, and two died overseas. Two arbors – Ottokee (OH) and Gary (IN) – both suffered fi ve members killed. The war also transformed civilian life. Forum Magazine gave tips for planting Victory Gardens. In addition to women working in factories, memorialized by Rosie the Riveter, more than 3 million nonfarm U.S. women were mobilized to work on farms. To collect more material for production, arbors helped organize “scrap metal drives,” “rubber drives” and “grease drives.” Civilians were required to ration basic items such as gasoline, tires, meat, butter and even shoes. Gleaner Life’s Illinois state manager, E.C. Fortin – in hope of “writing some new business faced the fact his tires were none too good” – rented a friend’s mule to attend a 1942 Gleaner picnic at Gilman Arbor (IL). The war also created a shortage of insurance agents, so the December 1942 Forum noted that arbor secretaries were being trained to help sell and service policies.
FRANK DICK RETURNS TO SCENE OF BATTLE OF THE BULGE F
rank Dick’s career in education, management and philanthropy included 21 years as president of Gleaner Life Insurance Society. Before any of that, however, he was a cold, 18-year-old U.S. Army private first class, fighting with Gen. George Patton’s Third Army in the snowy Battle of the Bulge. Frank was invited back to Europe by the Battle of the Bulge Association Dec. 9-19 to help commemorate the 75th anniversary of the battle, the largest battle ever fought by the U.S. Army. He and six other veterans in the group visited key sites and were honored by numerous leaders. Dignitaries included the Grand Duke of Luxembourg, the king and queen of Belgium, the prime ministers of Belgium and Luxembourg, the president of Poland, U.S. ambassadors to both nations and many more.
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Frank Dick (left) with Luxembourg Prime Minister Xavier Bettel (center) and Gary McDowell (right). Photos courtesy of Gary McDowell
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The German attack overran many American units and surrounded others. Most famously, U.S. soldiers holding the Belgian village of Bastogne were ordered by Germans to surrender, but a U.S. general refused, giving a one-word reply: “Nuts.” Frank’s 80th Division was thrown north to relieve Bastogne. The entire battle involved 610,000 U.S. troops and lasted six vicious weeks in below-freezing conditions. Truck engines froze along with blood plasma bags. To stay warm, Frank followed his grandfather’s advice to line his boots with newspapers. Veterans invited on the tour signed autographs at the Remember Museum 39-45 located at Thimister in Belgium. Frank Dick was seated second from right.
The parade of veterans is greeted by crowds in Bastogne, Belgium, where besieged U.S. Army units held off Nazi German attackers in December 1944.
Yet it was the appreciative crowds of tens of thousands of ordinary Europeans who waited in the rain to honor the U.S. veterans that most stood out to Frank. Crowds lined up to see the group, to get an autograph on a flag or helmet, or to have their children’s picture taken with them. “They said, ‘You’re our heroes,’” Frank recalled. “I said ‘No, I’m not a hero. I just survived.’” “The heroes were buried there,” added fellow Gleaner and former mayor of Adrian, Michigan, Gary McDowell, who accompanied Frank on the trip and whose father also fought in the battle. Pfc. Frank Dick had entered the Army at 18 after high school graduation. He was trained as a mortar crewman in Company I of the 317th Infantry Regiment in the 80th Division (the “Blue Ridge Division boys”). Frank sailed to France and became a replacement soldier for Gen. Patton’s Third Army. He rode aboard “40 & 8” French rail cars (“40 men or eight horses”). Troops were so cold they burned smashed furniture to stay warm. Frank arrived on the battlefront in the Ardennes region of Belgium on Dec. 14, 1944. Two days later, Nazi German forces launched a surprise attack through the Ardennes region of Belgium, northeast France and Luxembourg. Their goal was to split U.S. and British forces and capture Belgium’s vital port city of Antwerp, potentially ending the Allies’ advance.
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The 80th Division helped Allied forces cut off and stop the Germans’ last major offensive of the war. The cost was high as each side suffered about 90,000 casualties. Three weeks after the battle, on Feb. 19, Frank and his crewmate came under mortar attack while in their foxhole and both were wounded by shrapnel. Frank’s wounds included severe damage to his right arm that resulted in surgery in England and treatment with then-new drugs penicillin and sulfa. He was shipped to a Virginia hospital and allowed to come home to Ohio for rehabilitation, receiving the Purple Heart and the Bronze Star among other awards, before honorable discharge. He used the G.I. Bill of Rights education benefits to receive his first degree in education and begin his career in that field. While in Europe, Frank chatted one-on-one with Henri, the Grand Duke of Luxembourg, as well as the prime ministers of Luxembourg and Belgium, U.S. Speaker of the House Nancy Pelosi, Gen. Mark A. Milley, chairman of the Joint Chiefs of Staff, U.S. congressmen, and many others. One of those was Gen. Patton’s granddaughter, Helen Patton, at the Luxembourg American Cemetery where her grandfather is buried. Frank also was able to give the Duke of Luxembourg a medal commemorating the 100th anniversary of the American Legion in Michigan. Gary McDowell recalled. “When Frank gave the duke the medal, he said ‘Nobody ever gives me anything. Can I open it?’”
Frank Dick sings for a group of preschool students on the streets of Luxembourg City.
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20/20 Vision:
Life Cycle April showers and May flowers are part of the cycle of life that helps us better grasp our seasons of life.
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Spring is synonymous with new growth. For most plants, new life may emerge from the soil and quickly grow into a new phase in the cycle of life. People have a similar life cycle, and one’s financial needs can change and evolve over time with his or her environment. Understanding the needs of each phase can help ensure healthy growth, like a tree planted near abundant water. Infancy/youth It’s a certain sign of spring when we see tiny, tender seedlings. Although some plants seem to grow visibly bigger by the day, they still are weak and at extra risk. Pests or harsh elements can damage and kill them. A young plant’s growth may also be affected by whether they were planted in good soil with adequate nutrients and plentiful amounts of moisture. A developing person also is vulnerable and relies on a safe, stable environment with the resources needed to grow. Adults are responsible to ensure that their new children will be adequately protected if anything happens to either or both parents. Life insurance also protects a growing child’s future needs. Children’s term life insurance can safeguard the child’s ability to purchase life insurance in the future regardless of unforeseen conditions. Growth/maturity Maturing plants expand their root system to help draw nourishment even in difficult times. By growing in multiple directions, this extensive system also provides stability from storms and winds. This structure is less visible than flowers and fruit, but it
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gives the plants and trees the balanced foundation needed to last decades or even centuries. Some species of plant life, such as the Great Basin bristlecone pine, may live for thousands of years. Some African baobab trees are capable of storing more than 30,000 gallons of water in their trunks to protect against dry periods. People also need to develop a sturdy foundation and storage capacity for future needs. This tends to accelerate during our mature phase when skills, strength and awareness make us most productive. It also requires planning because, unlike storing nutritional resources, saving financial resources isn’t programmed into our DNA. A person will typically benefit most from a balance of term life insurance (to meet temporary needs), permanent life (as a long-term resource) and annuities (ensuring a person doesn’t outlive their resources). A person has two primary considerations during this phase. First, income protection in case they are no longer there to provide for their family. That can be solved using term life insurance or permanent insurance, or often both. The second objective is to accumulate assets to generate income during retirement. Tax-deferred annuities are designed specifically to help achieve this goal.
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Later in life The life cycle in most plants includes a stage when the plant becomes older, weaker and more susceptible to pests, weather and disease. In annuals, this senescence phase is predictable and genetically triggered. It often includes the dropping of seeds that will produce new plants, which will carry on the species. Surprisingly old trees of some species such as sequoia and eucalyptus actually accelerate their growth in old age. In the end, decomposing plants provide nutrients including water and carbon dioxide needed for a healthy soil ecosystem and future plants. As people age, they also face a variety of limits. Typically, growing medical needs will require relying on builtup resources such as whole life insurance or laddered annuities. These can also fund new growth if a person discovers fresh fields to branch into and explore. Perhaps, having outgrown other cares, they may be able to focus their remaining years on bearing good fruit that will seed successive generations. One the most efficient ways to do that is with permanent life insurance, which can be passed to heirs or charities tax-free. There also are permanent life insurance solutions specifically designed to help groups of people leave a legacy to a particular church or other charitable organization. Plants and humans alike generally leave slight modifications in their genomes and DNA, a ripple effect touching future generations. Wherever we find ourselves planted, there are opportunities today to ensure our lives intertwine and support those still growing and their descendants.
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SECURE Act makes key retirement savings changes
Changes have eased savers’ age limits, but may make IRAs and 401(k)s less desirable for inheritance. Americans not saving enough for their retirement needs is a growing problem. A major new federal law may help by encouraging them to save longer while also boosting life insurance and annuity investments. The Setting Every Community Up for Retirement Enhancement (SECURE) Act overwhelmingly passed Congress and was signed into law late last year. It became effective Jan. 1, 2020, updating numerous rules. When individual retirement accounts (IRAs) and 401(k) plans were created in the 1970s, life expectancy of the average U.S. male was 67. More than 40 percent of Americans still had defined benefit pensions. Today, that percentage is in single digits, and most Americans are living nearly a decade longer than they did 50 years ago. Those changes have increased Americans’ risk of outliving their savings including their funds in IRAs or 401(k)s. The SECURE Act makes dozens of changes for employers as well as for individuals, and people should consult a financial adviser to see if their needs and strategies are affected. Some of the changes: Contributing longer: Reflecting Americans’ extended working years, the law repeals 70½ as the maximum age for workers to contribute to their traditional IRA. Workers are now able to add to their IRA as long as they have earned income, increasing their retirement savings. Withdrawing later: Similarly, starting Jan. 1, the age at which qualified account holders must start withdrawing from retirement accounts was extended from 70 ½ to 72. Delaying when individuals must take their first required minimum distribution (RMD) gives their accounts extra time to grow. Limiting “stretch” IRA and 401(k) provisions: There could be larger tax bills, however, for heirs of IRA or 401(k) owners dying after 2019. The SECURE Act now puts a 10-year limit on the time many heirs have to empty the account. Previously, beneficiaries could stretch out the account’s distribution throughout their lifetime, taking smaller amounts and doing so later in life to minimize taxes. The new limit does not apply to spouses and disabled beneficiaries, among other exceptions, but minor children do face the 10-year rule once they turn 18. This tax problem for inherited savings accounts may cause individuals to seek alternatives. One solution is permanent life insurance, which can be left to beneficiaries tax-free. www.gleanerlife.org
Annuity options in more 401(k) plans: The SECURE Act also eases barriers that have discouraged employers from offering annuities in their 401(k) plans. Old rules held employers liable if they selected an insurance company that provided inappropriate options. The new rules shift liability onto the insurance company. They also make 401(k) annuities more portable, and they require that plans provide participants with estimates of what their balances could produce in monthly retirement income. These steps are expected to lead to more 401(k) plans adding annuities. Other SECURE Act additions include penalty-free withdrawals for individuals in cases of birth or adoption, tax credits for small employer pension plan startups, and allowing multiple businesses to create a pooled plan, as well as other changes. The features won’t bring back the company pensions of the 1960s or ’70s, but they do offer incentives for individuals and companies to take additional steps toward retirement planning. You can take the next step by talking with your Gleaner Life agent about how annuities provide a steady stream of income and the tax benefits of permanent life insurance.
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50 50-YEAR MEMBERS
Florida
Brent M. Beard, Plymouth Indiana
Richard D. Orr, Rolling Prairie Illinois
Melody Marcotte, Bradley David S. Olson, Minooka
Edward A. Smith, Morris Michigan
Mary Ann Downing, Marion Gregory E. Elser, Quincy John L. Fillinger, Adrian
Stephanie Freeman, Midland
Dorothy J. Goethals, Traverse City Sharon R. Pratt, St. Charles Randall D. Taylor, Ithaca Nebraska
yr.
Daniel R. Murray, Plattsmouth New York
Patricia L. Keller, Lockport Ohio
Daniel J. Benschoter, Orient
Russel A. Kirkendall, Fostoria Steven C. Wells, Cincinnati
South Carolina
Dennis R. Seitz, Bluffton
75-YEAR MEMBERS Arkansas
Maine
Larry L. Ricica, Lyons
Illinois
Michigan
Ontario
Eleanor J. Haak, Royal William L. Dirks, Crescent City John Feely, Normal
Lloyd W. Schneider, Princeton Judith A. Sheridan, Hoopeston
Barbara J. Sieczkouski, New Lenox Diane L. Thiele, Watseka Indiana
Susan Gardner, Bloomington Phyllis A. Doll, Hanna
Michael Singleton, Knox Richard Singleton, Knox
Janice J. Showers, New Haven 13
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Jane O. Allen, Veazie Doris L. Chopp, Kalamazoo Karlene K. Eckert, St. Johns John Fatchett, Parma
Gerald D. Feece, Niles
Dennis H. Johnson, Paw Paw Glenis L. Knierim, Blissfield Iva Marsh, Litchfield
Carol M. Randall, Vestaburg
Opal M. Taylor, Wauseon Judith A. Magney, Etobicoke Tennessee
Jacqueline Mellinger, Nashville Texas
Trudy A. B. Grimmer, Frisco Washington
Kay M. Lee, Twisp
Ronald R. Smith, Snover Ohio
Richard A. Busch, Defiance Audrey Fuller, Metamora
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Dear Gleaner Life Insurance Society, We handled approximately 56 children for our Arbor Angel Project. This is a sampling of the notes we received. There were: • 40 children living under poverty level. • 16 children living with mothers in a shelter for the abused. Very cute notes! Thanks,
Thank you/gracias, Thank you for the gifts. Merry Christmas, Christian Thank you for all the gifts you gave us. Feliz Navidad, My name is Meilin Feliz Navidad y Gracias, Deimi!
Beverly Hiller, President, Bay Area (Florida) Arbor Dear Santa, Thank u for the gifts and cloths and I love them. U made my wish come true. Have a wonderful day. Love, Catherine
Dear Adrian Arbor (MI), Please accept our heartfelt thanks for your recent gift of $1,000 to the Hospice of Lenawee Hospice Heart Endowment Fund. Your contribution will continue to provide Hospice services to those who have little or no medical coverage. Also, thank you for hosting the lovely dinner, with other worthy non-profit organizations. Your gift makes a difference in our ability to provide hospice care to those that are under-insured or uninsured. Again, thank you, Travis Havens Hospice of Lenawee President & CEO
www.gleanerlife.org
(Note: Similar letters were received from other groups that received $1,000 donations: Housing Help of Lenawee, YMCA of Lenawee County, and the Lenawee County Historical Society)
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RECORD DROP IN U.S.
CANCER MORTALITY RATE
Cancer remains America’s No. 2 killer, but a single-year record highlights a 29% decline in U.S. mortality rates during the past 27 years.
More than 600,000 Americans will likely die of cancer-related diseases this year, but record-setting gains against cancer mortality demonstrate short- and long-term progress. The American Cancer Society’s annual report “Cancer Statistics, 2020” showed the overall death rate fell 2.2% from 2016 to 2017 (the most recent figures available). It was the largest one-year drop recorded by the group. The long-term mortality rate has dropped 29% from 1991 to 2017. According to Gleaner Life Insurance Society Medical Director Dr. Shona Murray, the report reflects progress in several areas — most notably against tobacco smoking’s cancer-causing effects. Lung cancer deaths, which total more than the next three most common cancer types combined, fell 51% from 1990 to 2017 among men, and were down 26% from 2013-17 for women. “The main reason is smoking cessation,” Dr. Murray said, crediting public health campaigns against smoking. “That has an impact on a lot of cancers but, with lung cancer being the No. 1 cancer in the United States, that’s why the impact has been so dramatic.” 30
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Declines in the next three most common cancers were: •
Breast cancer death rates dropped 40% from 1989 to 2017 among women.
•
Prostate cancer death rates were halved by 52% from 1993-2017 among men.
•
Colorectal cancer death rates were down 53% from 1980 to 2017 for men. They dropped 57% from 1969 to 2017 for women.
“The reasons for these particularly are improved diagnosis, advances in early detection and advances in treatment,” Dr. Murray said. Cancer remains the No. 2 cause of death in the U.S. Only heart disease (about 645,000 deaths per year) kills more. Cancer is expected to kill about 606,500 Americans in 2020, according to the society, and produce three times as many new cases — 1.8 million. That translates to about 1,600 deaths and 4,950 new cases each day. Those numbers are lower, however, thanks to years of steady progress. Mortality rates declined by an average of 1.5% per year from 2008-17. “That translates to more than 2.9 million deaths avoided since 1991, when rates were at their highest,” the cancer society stated. One in four Americans develops some form of cancer, but Dr. Murray said prevention could improve that, beginning with ending smoking and reducing obesity. She said excess body weight is linked to 12 different types of cancer including breast and colorectal cancers. Physical inactivity is linked to “probably 13 different cancer types,” Dr. Murray said. Obesity and inflammation also can trigger cancer. “The American Institute for Cancer Research estimates that one-third of cancers are actually preventable,” Dr. Murray reported. “So, there are things in our lifestyle risk factors that can be modified that will make a big impact on our likelihood of developing cancer.” www.gleanerlife.org
While smoking tops the list, the use of alcohol is linked to breast, liver, throat and other cancers. Red meat also has links to cancer, although Dr. Murray emphasized that processed meats — as well as other processed foods — are larger culprits. Eating more fiber is another dietary prevention, especially against bowel and colorectal cancers. Wearing protective clothing and using sunscreens can help prevent melanoma skin cancer. Since treating cancers early is vital, screenings are important for early detection. Continued improvement would include better access for all Americans to health care and cancer centers, Dr. Murray added, citing narrowing gaps between different socioeconomic and racial groups. Improved chemotherapies and other treatments also play a role. New immunotherapy drugs to treat skin cancer helped as melanoma made the sharpest mortality improvement among any types of cancer, the society reported. Two key drugs were approved by the FDA in 2011, and during 2013-17 the overall melanoma death rate fell 7% per year. The death rate fell between 5% and 6% per year for people age 65 and older. The society noted that was significant because, before 2013, that age group’s death rate had been increasing. Recent developments have also raised new questions. One involves whether possible health consequences of e-cigarette use make it a viable alternative to smoking tobacco. Another involves fewer men being advised to have the prostate specific antigen (PSA) test to screen for prostate cancer. Fewer PSA tests could lead to fewer unnecessary treatments, but also to more prostate cancer deaths. “That’s something that in the next few years will certainly be watched closely,” Dr. Murray said. Meanwhile, the average American will continue to play a large role through their own behaviors, Dr. Murray summarized. “If people didn’t smoke, and ate less meat and more fruits and vegetables, exercised more and also followed cancer screening guidelines, the American Cancer Society estimates that it would be possible they think to reduce cancer deaths in the United States by 40 percent by 2035.”
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Korinne’s Korner Each summer Kevin and I try to attend the Ann Arbor Art Fair, which is held in July in the downtown area – maybe not this year! It’s a wonderful event that is always well attended. Several streets are closed off, with high quality arts and crafts vendors on each side of the street. A few years ago, we found two gentlemen working a booth selling products from Spooner Creek – “Real Art Etched in Clay." They hailed from Wisconsin. As time goes by, their wares have turned up on Amazon and in numerous catalogs I’ve seen. We recently ordered a plaque for our daughter-in-law’s birthday and decided to also get the same plaque for our family photo wall at home. It reads:
In this Home We extend grace We welcome strangers We listen, we share We laugh and cry We make mistakes We show mercy We give thanks We celebrate life We believe in love We are a
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After nailing it up and rereading it today, it made me think. Day by day, our schedules get so busy with work, family and other commitments, and we sometimes take the blessings of our home for granted. I have volunteered several times preparing dishes for our local homeless shelter. I also have delivered leftover food from church events to a local kitchen that offers meals to the homeless. Both experiences bring my home FRONT AND CENTER IN MY MIND. I am so grateful for the blessings we have and especially for our family. Another plaque we have hanging in the house says:
Gratitude Turns what we have Into more than enough It seems to me that having inspirational messages close by can help keep us focused daily on the positives in our lives. In the hope that spring isn’t too far away, I am sharing a marinade for pork tenderloin on the grill. 1 10 oz. jar of preserves (recipe calls for apricot, but I have used whatever I have at the time!) 2 T. Low sodium soy sauce 1 T. Lemon juice 2 garlic cloves, minced 2 1 lb. pork tenderloins 3/4 t. Salt and pepper
Place preserves in 2-cup glass measuring jar and place in microwave on HIGH for 1 minute; stirring after 30 seconds and adding in sour sauce, lemon juice and garlic. Continue heating for another 30 seconds. Place 3/4 c. of marinade in plastic bag with the pork; refrigerate up to 8 hours. Place remainder of marinade in a jar for basting/refrigerate. Bring pork to room temperature before placing on a hot grill. Brush remaining marinade in jar prior to removing meat from the grill.
Enjoy! Fraternally, yours
Korinne Marti, Wife of Gleaner President and CEO Kevin Marti
www.gleanerlife.org
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Today’s needs can be vastly different from tomorrow’s. If you’re like most American families, you have a wide arrange of financial considerations to navigate as you plan for the unexpected. What seems important now may not seem as important in the future, but that doesn’t mean you can’t protect today’s needs in the meantime. Gleaner Life Duration Term can help protect financial needs that are temporary. Should you die unexpectedly, a 15-year term life certificate could guarantee that your children are able to pay for college, while a 20-year term life certificate could help your spouse pay off your mortgage. Gleaner Life Duration Term allows you to purchase two or three certificates with the simplicity of one premium payment and certificate fee. To learn more about Gleaner Life Duration Term, contact your Gleaner agent, listed on the back of this publication.
www.gleanerlife.org Gleaner Life Insurance Society is domiciled in Adrian, Michigan, and licensed in AZ, FL, IA, IL, IN, KS, KY, MI, MO, NE, OH, PA, TN, VA, WI & WV. Gleaner Life Term Solutions Plus form number ICC17-LGTERM (10-year guarantee) and ICC17-FGTERM (full guarantee) with state-specific variations.
Hi kids! Who’s ready for spring? I’m excited to get outside and see the earth spring into bright colors. I also love blowing bubbles, creating pictures with sidewalk chalk and going on walks and bike rides with my family and friends. When you’re outside, I have a fun challenge for you! See how many objects you can find from my scavenger hunt. • Flower
• Bird
• Green leaf
• Berries
• Spider web
• Mushroom
• Bicycle
• Feather
• Bird’s nest
• Butterfly
• Dandelion
• Lawnmower
• Caterpillar
• Squirrel
• Animal tracks
• Rabbit
• Bee
• Frog
• Rainbow
www.gleanerlife.org
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M
BENNY’s PAGE Join Benny’s Birthday Club
Hi, Kids! I love celebrating milestones and want to help celebrate your birthday! Have you heard about my birthday club? If you’re a Gleaner benefit member between the age of 0-11, it’s easy to join. Simply ask your mom or dad to fill out the form below and mail it in or visit www.gleanerlife.org/birthdayclub and fill out an online form. Then, during the month of your birthday, I’ll send you a special surprise to celebrate your big day!
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BENNY
Take care!
BENNY The Benevolent Lion
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Benny’s Birthday Club registration Mail to: Gleaner Life Insurance Society, Attn: Community Engagement, P.O. Box 1894, Adrian, MI 49221 Child or children’s name(s): ______________________________________________________________ Certificate number(s): __________________________________________________________________ Parent’s name(s): ______________________________________________________________________ Address: _____________________________________________________________________________ City/state: ____________________________________________________ Zip: ____________________ Phone: _______________________________ Email: __________________________________________ 36
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Nonprofit Organization U.S. POSTAGE PAID BOLINGBROOK, IL PERMIT NO. 594 5200 West U.S. Highway 223, P.O. Box 1894 Adrian, Michigan 49221-7894
A message from Gleaner Life regarding COVID-19 With growing uncertainty about the novel coronavirus (COVID-19), we at Gleaner Life Insurance Society want our members to know that we’ll be available to help. Gleaner Life has withstood depressions, world wars and global pandemics throughout our 125 years. History suggests that times of great anxiety are not ideal for making sudden changes with unknown consequences. In these unknown times, Gleaner is proud to have the strongest balance sheets in our storied history and continue to have zero debt. Gleaner’s stringent investment standards, comprising primarily of high-grade bonds, and professional investment management enable us to weather economic fluctuations and uncertainties such as these. While the full extent of today’s challenges will not be known for weeks or months, life insurance and annuities have always been among the safest financial solutions. On top of that, their main purpose is family protection. We invite all our members to take solace in the words of Chairman Emeritus and Past President Frank Dick with regard to Gleaner annuities:
Every morning when you wake up, you are worth more than you were the night before! This is our promise to members, through any economic storm.