The copper era and Morenci leader., 1919-07-11
HOW ID CHANCE WAR RISK POLICY ID
 OLD LINE ONE
No Soldier Need Lack Full Informa- ton In Regard to The Transfer Literature is Sent To Him On Re- quest from Phoenix Ariz.

Literature is Sent To Him On Re-
 quest, from Phoenix Ariz.
 Many. returned service men are talk ing advantage of the governments offer to convert their war risk insur- ance into the old line policies. but there has been general lack of speci- fic knowledgee concerning the govern -ient's plan.
 Victor H. Harding has been appoint ed by the American legion in Arizona to look. after the insurance interest," z members and to aid all service men in insuranc matters. Blank forms for conversion can be obtained by writing
 n at S20 North Central avenue. The
 six, insurance bureau has sent out literature giving detailed informa- on on all phases of the question. This literature can be, obtained from V. H. Harding and from the Frank Luke Post, American Legion or the Red Cross in the war work building.
 There has been a failure on the part of some to understand the in- crease in premiums of the converted insurance over those of the war time insurance originally issued. The in- crease, it is explained, is due to the fact that the term insurance premi- ums bought only mortality protection without policy maturing value or guar anteed value of any kind except in thu case of the insured's death.
 Premiums In Three Parts.
 Insuranc premiums may be aproXl- mately divided into three parts, one to offset the death claims for the per iod which the premium covers, a sec ond to be set aside as a reserve for the payment of maturing policies and to cover the cash value of all. policies. and the third to pay expenses.
 For the wartime insurance the gov ernment charged premiums to cover only the first part and the rates were based on peace time mortality rates without regard to the extra hazard of war or the influenza. The convert ed policies will have maturing and cash values against which the govern ment has to set aside a reserve. The premiums, therefore must cover the reserve as well as the charge for mor- tality protection to the insured. In neither the old nog the converted form is any charge made for expenses which will be paid from the national treasury.
 For that reason premiums rates on government insurance are from 20 to 30 per cent lower than on similar insurance in commercial insurance companies. For example, 20 year en- dowment government insurance for age 21 costs $39.1O per thousand an nually. For the same the New York Life Insurance company charges S49.- H. There is a saving of approximate " 20 per cent. The difference is due to the fact that the commercial con- pany's premiums must cover eXpen- ses. In the cheaper lines of insurance expenses usually amount to about one third of the premiums.
 Six Forms Issued.
 The converted government insur- ance will be issued in six forms: or dinary life, 20 payment life, 30 pay ment life 20 year endowment, 30 year endowment and endowment maturing at age 62. These new policies will car " all the advantages of old line poli- cies such as cash surrender, loan, paid-up insurance, and extension valu- es. Some special features are: par ticipation of the insured in dividends earned from gains and savings; disab- ility benefit; freedom from conditions as to residence, travel, occupation, military or naval service; no medical examination; policy dnassignable. non- taxable and free from claims of cred itors. Premiums may be paid monthly quarterly, semi-annually or annually. Premiums paid for periods beyond the month in which the death of the in sured occurs will be returned.
 The law provides that war time term renewable insurance may be convert ed at any time within five years after the proclamation of peace provided it is still in force. Premiums on the old insurance are payable monthly, but 30 days of grace are given, and pro- vision is made for the renewing of aapsed insurance. All Tor any part of the insurance originally taken out may be converted. Many are con- verting only part now and continuing the rest under the old plan until they are able to carry all of it in standard policy form. Restrictions as to the beneficiary are not changed, being pre- scribed by the original insurance act.
 The insurance upon becoming due by reason of death or total disability of the insured becomes payable in 240 monthly installments. An option, how