The Madison daily leader. [volume] (Madison, S.D.) 1890-current, 1918-12-06

surance
Preparations by the government for
einsuring the lives of soldiers and
.ailors on their return have been has
tened by the signing of the armistice.
Although regulations have not yet
been fully drafted, 1t is certain that
each of the 4,250,000 men In the mill.
tary or naval service now holding
voluntary government insurance will
be permitted within five years after
peace is declared to convert 1t without
further medical examination into ordi-
nary life, twenty-payment life, endow-
ment maturing at the age of sixty-two,
or other prescribed forms of insur-
ance.
This Insurance will be arranged by
the government, not by private com
panies, and the cost is expected to be
at least one-fourth less than similar
forms offered by private agencies. The
low cost will result from the fact that
the government will pay all overhead
administration expenses, which for pri-
vate companies amounts to about II
per cent of premium receipts; will
save the usual solicitation, fees, and,
In addition, bear the risk resulting
from the wounding or weakening of
men while in the service. Private
companies would not write insurance
on many wounded men, or their rates
would be unusually high.
Pay Premiums Monthly.
The government will arrange to col
lect premiums monthly, IL men wish
to pay this way, or for longer periods
In advance. This may be done through
post offices. The minimum amount of
insurance to be issued probably will
be $1,000 and the maximum $4,000,
with any amount between these sums
In multiples of $500. There will be
provision for payments In case of dis
ability as well as death, according to
the tentative plan. The insurance may
be purchased by any soldier, sailor or
marine-officer or enlisted-and by
women members of the army or navy
nurse corps, providing they already
hold government voluntary life insur-
ance. About 95 per cent Of the 4.5O0,-
600 men In the service are covered by
this insurance, which expires after
they go back to civilian life and cease
paying premiums. This Is the system
devised to replace the old pension
plan of providing for e~x-soldiers and
sailors.
Greatest In the World.
This will be created out of the gov
ernment's emergency val insurance
bureau. the greatest life insurance in
stitution In the world for peace times,
with more policy holders and greater
aggregate risks than a half dozen of
the worlds greatest private companies
combined. Out Of the experience gain
ed may eventually develop expansion
Of government insurance to old age. in
dustrial and other forms of insurance,
In the opinion of officials who have
studied the subject.
Regulations for ~reinsaring SOL
diers and sailors are being framed by
an advisory board to the military and
naval section of the war-risk bureau,
consisting Of Arthur Hunter, actuary
of the New York Life Insurance COM
pany; ]. A. Fraser, Omaha, Of the
Woodmen Of the World. and f. Robert
son Jones of the Workmen's Compensa-
ton Publicity bureau. New York.
Plans also are under consideration
for allowing beneficiaries Of men who
have died or been killed in the service
to choose between taking monthly pay
ments over a period Of 20 years or to
commute these payments In a lump