Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1919-08-22
Soldiers and Sailors Can Regain
Lapsed Insurance Pro-
lection
NEED NOT PAY FOR
MONTHS NOT INSURED
Changes of Importance To Those Who
Have Dropped Their War Risk
Policies

Secretary of the Treasury Carter
Glass, on July %, signed a decision of
mOmentous Importance and interest to
discharged soldiers, sailors and ma
rines
In the decision (T. ID. AZ, w. R.)
the Secretary rules that discharged sol
diers sailors and marines who have
dropped or cancelled their insurance
may reinstate it within eighteen
months after discharge without paying
the back premiums. All they will be
asked to pay will be the premium on
the amount of insurance to be rein
stated for the month Of grace in which
they were covered and for the current
month.
Thus for example, if man dropped
$4,000 Of insurance in January, 1919,
and applies for reinstatement the 1st of
September for 5000, all he will have to
pay Will be the premium for January
(tho month Of grace) on $4,000 and the
premium for September on $4,000 Or,
if he applies. for reinstatement Of the
full $4,000 he will pay a total Of two
months premiums on $4,000, one for
January and one for September. He
win not have to pay premiums in either
case for the intervening months.
The decision stipulates that the for
mer service man applying for rein
statement be in as good health as at
date of discharge
Former Treasury Decision 45, W. r.,
and other prior regulations in conflict
with the new decision are revoked.
Director r.. G. Cholmeley-Jo of
the Bureau OF War Risk Insurance. fol-
lowing the signing of the decision made
the following statement
The present decision is one Of the
most important to former service men
that has been made in the history of the
bureau.
Many service men have been de-
tered from availing themselves of the|
former and less liberal reinstatement
privileges by reason of the relatively
large amount of money represented by
accumulated overdue premiums, and
because it would seem that they were
paying for something that they never
actually had, which, in fact. was the
ease.
Under the new decision a man is
relieved Of the burden Of overdue pre-
miums He has an opportunity to re-
habilitate himself financially after get
ting out Of the Army, Navy or Marine
Corps. and to reinstate his insurance
at any time within is months following
discharge without the burden Of paying
q large amount Of money.
The reason payment for the month
of grace is required under the new de-
Csion is that the insured was protected
l3y reason of his insurance continuing
in force during that month, and that
had he died during the period Of grace
his policy would have been paid.
"Of course every man who has
dropped his insurance should fenstate
it Immediately, for the reason that If he
should die before reinstatement his de-
"Thcrefore urge that care be taken
to make clear to every former service
man who has dropped his insurance
that the new ruling does not aut0mat-
ically reinStac him. and to impress upon
him that he will be without insurance
until he voluntarily applies for and
secures reinstatement. He should inn
ltNyN
his own protection and that of his de-
pendcnts.
Don't forget that men die or become
disabled in peace time as well as in
war time, and that if man waits he
may not be in as good health rs he was
at the time of his discharge and c0nse-
Qucntly may not he able to secure rein
statement.
Don't put off reinstatement. DO it
now"
If the policy holder is unable to keep
The full amount of War Risk Insurance
he carried while III the service, he may
reinstate part of it from $1,000 up to
$4,000 in multiples of $500. Reduc-
tions may be made in multiples OF 5000
to any amount, but not less than $1,000
Premiums are due on the first of the
month, although payments may be
made any time during the calendar
month.
Premiums should be paid by check
draft, or money order payable to the
Treasurer of the United States and scnt
to the Premium Receipt Section Blu
reau of War Risk Insurance, Washing
ton, d. G.