Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1919-02-03
BIGGEST LIFE CONCERN II
CARRY RISKS ON LIVES OF
SOLDIERS OF LATE WAR.
RULES FOR CONVERSION
At END OF FIVE YEARS
United States to Carry Policies and
Business viii Not Be Turned Over
TO Private Conosrns-Insured Dol.
dIers to Share Dividsnds-Larse
Sum Already Paid.

Washington, Feb. Conditions
ing government life insurance may
convert their policies within five years
into other forms which can be carried
with the government during their life
time have been announced by Col.
Henry d. Lindsey, of the war risk in
suance bureau. Rates will be made
public soon. The new policies will not
be available until then.
There will be six different kinds of
ordinary life, twenty pay
ment life. thirty payment life, twenty
year endowment, thirty-year endow-
ment and endowment payable at g..
All policies will contain clauses pro-
viding that in case of permanent total
disa bilty of the insured man. the gov
eminent will make monthly payments
to him and premium payments will
cease This amounts virtually to old
age pensioning and disability insur-
ance and insures that no man who has
served in the army or navy need ever
be destitute II he carries the govern
ment insurance
Insured to Share Dividends.
All policyholders will participate in
dividends. and earnings OF over. Sts
per cent from the insurance fund will
60 into dividends. Since the reserves
will be invested in government securi-
ties, most OF which will pay Az per
cent it is certain there will be large
nrin Nn1
to policyholders.
Collections of premiums will be
made thru postmaster. Colonel Linds-
ley said the rates would be so low
that officials OF private insurance
companies admitted their companies
could not compete with them.
Any man now in military or naval
service holding government term lie
insurance can obtain the new forms,
but the amount will be limited to his
present holdings. which in no case are
more than $4,000. The government
urges all men to continue TO carry
their present policies. but to convert
these as soon as they are financially
able within the next Ave years.
v. 8. to Garry Policies.
The government lIseiI anu MOI pr
vate companies will carry these con-
verted policies, II was emphasized IN
the denial of reports that the insur-
ance business built up on the lives OF
fighting men during the war would
now be turned over by the government
TO private concerns. r'f
Thus will be created a permanent
government life insurance agency, the
biggest in the world. furnishing pro-
lection at cost to men who partici-
pated in the war and future members
OF the regular army or navy. with
postmaster agents in every city and
town in the United States.
The war risk insurance bureau to-
DAY reported that 4.4SO000 policies al
ready have been issued to soldiers and
sailors for insurance aggreGating S3s,-
232 ,O00. 900 or an average OF ss.'96 on
each man. The volume OF this bnsi-
ness may be determined by compari-
son with the 1000, 100000 total OF
life insurance carried by private com
panies in the United States. accord =
ing to figures cited by bureau officials
While the largest private life insur-
ance company in the country last year
wrote s3lS.0O0.000 Of insurance. the
government wrote s356,o00,0O0 of new
policies this month. when business
was declining.
up to today 34ss9 awards had been
made on deaths of insured soldiers
and sailors for amounts agSreSatins
1924 720, 900.