Americus times-recorder. [volume] (Americus, Ga.) 1891-current, 1917-07-19
UNCLE SAM WILL
ENTER INSURANCE
BUSINESS SOON

WASHINGTON, July 19.-Before this
congress has a chance to get away, the
war administration is going to ask it
to pass legislation which will enable
Uncle Sam to go into the life and ac-
cident indemnity insurance business
on the biggest scale in history. At
one blow, the administration wants to
insure one million soldiers and sailors
ard to prepare to insure millions as
called into service.
There are two impelling reasons for
this: The administration wants to
avoid a huge pension avalanche after
The war; second, the insurance COM
panies them elves asked too much to
carry insurance policies on our fighting
force Most of them demanded 500
per 81 900 OF insurance, in addition to
tie regular premium.
This looked like penalizing patriotism
to Charles F. Nesbit, superintendent OF
insurance, District of Columbia. Ac-
cordingly he proposed to War Secre-
tary Bager that the insurance compan-
les be asked to form a board to pro
rate the insurance on all the fighting
forces and to cut the premium is pos
sible.
Examination proved this not very
practical. For instance, if insurance
were taken out on 100000 men, the
premium amounting to $21 100000,
would be dissipated as follows. $1,000
600 for medical examination; $10,OO0,-
600 for agents commissions; $2,00O,OOO
for other expenses. This would leave
only $4,O00OOO to be applied to the
risks
If the government itself insured the
men, there would be no expense in con-
nection with agents, medical examina-
lions, ETC., so it could take the risks at
much less cost than the companies. At
a meeting of insurance company rep
resentatives the other day with Secre-
tary of the Treasury McAdoo 104 voted
in favor of the government insuring its
men and, only four opposed it.
Edwin F. Sweet, assistant secretary
OF commerce, has worked out a tenta-
tive plan as follows
There is to be created, in connection
with one of the existing executive de-
partments of the government, sold
iers and sailors indemnity bureau
with competent insurance man at its
head. The necessary actural and cler-
ical assistance will be provided Pro-
lection for a definite amount, not eX-
ceeding $4,000, will be automatically
furnished to everyone in the military
and naval service of the country with
out regard to rank and without ex-
pense to the insured.
This insurace will cover partial or
total disability as well as death. All
losses will abe paid in regular INSTALL
ments. All adjustments will be made
with the Least possible delay AS con-
crete evidence of the governments OBJ
legation a certificate of policy may be
given each soldier and sailor In addi-
tion each man may buy extra insur-
surarce to the amount of $4,000 on
terms as favorable as in peace time,
the government issuing the policy The
scale of indemnity for injuries is being
worked out
1t is also proposed to center in this
indemnity bureau the paying of sep
aration allowances for dependents of
soldiers and sailors. This has never
been done in this country, but Canada
and England have done it throughout
this war
In order to carry out these insurance
and allowance plans specific legisla-
tion and appropriations will be requir-
ed, but it is not anticipated congress
will balk, as the subject will come
very close to millions of families.