Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-02-01
GOVERNMENT WILL ISSUE
SIX FORMS OF POLICIES
Rates for Mon in Service to he SO
Low as to Defy All
Competition.
POLICIES LIMITED TO $4,000
Uncle Sam Conducts Greatest Life.
Insurance Agency in World, Writ
ing S356,OOO,OOO OF New Business
in Month OF January Alone.
ny Associated Press

| WASHINGTON. Jan. 3l.-G'onuitions
| under which soldiers or sailors now
holding government life insurance may
| convert these policies within five years
into other forms which can be- carried
| with the government during their life
time were announced to-day by Colonel
Henry H. Lindsey. of the War Risk
Insurance Bureau. Rates will be made
public soon, and the new policies will
not hc available until then
Thc:o will be six different kinds OF
MISUNDERSTANDING life. twenty pay
mcnt life. thirty -payment life, twenty
year endowment thiriy-year cndow-
meni. and endowment payable at the
age of siNty-two.
All policies will contain classes pro-
T!dinS' That in case of permanent total
ois1 oility of the insured man. the gov
nrnment will make monthly payments
TO him, and premium payments Will
cease.
This amounts virtually to o!d-as-
pensioninS and disability insurance.
served in the army, q: navy need ever
DC destitute, il he carries the govern
ment insurance.
WILL
PARTICIPATE IN PROFITS
All policy holders will participate in
dividends, ond earnings of over X per
INTO dividends. Since the reserves " III
be invested in government securities
most CT which will pay in tho neigh
boIhooE OF !. per cent it Is certain
there viii DC large dividends to he re-
turned periodically 10 policy holders.
ColieStiors OF premiums will be maue
nifty.
Although the rates have not yet been
ahTounccd. Colonel Lindsey stated to-
Day they would he SO low that officials
OF priFat" Insurance companies which
assisted IL drafting the rate schedule
mao admitted the!' companies could not
compete wish ,nem
AMOUNT or NEw INSURANCE
iiNi1lcfi TO PRESENT HOLDINGS
ANY man now In military or naval
service holding government term life
insurance can obtain new forms, hu,
the amount will be limited to his
more than $4,000. The government,
urges all men to continue To carry their
present policies. but TO convert these
within the mex; 1--WE years.
Tnc government itself and not py,-
vate companies VIII carry these con
Lerted policies. il was emphasized to-
day In denial nf reports that the in
surnncc business built up on lives OF
lighting mon during the war wonId he
,nIhtd over by the government, 10 pri-
Vate concerns.
CREATES PERMANENT
GOVERNMENT AGENCY
Thus Win be created permaneu,
government life insurance agency. tho
.HSeat III me world. furnishing pro-
tc't!oh al cost TO men who partic:nated
N The WAY, and future members OF The
! iesuiar al my or navy. with postmaster
;tscn's IN every city and town IN the
United States
The War Risk Insurance Bureau 20.
| uAS reported that i.SSQ,000 policies nj .
re;taS nave been issued TO soldiers and
S SahorS ior insurance asgregatins $50.
232: oo",o 900, or an average Of ss.25S on
:ach man. Tn" volume OF this business
! nay DC determined by comparison with
| .hc sznoon.eun.c0U total of life insur-
| hhce carried by private COMPANIES in
| me Lnited states. according 10 figures
ciItu .o-ua% by bureau officials
Whiie the largest priva., iii. insur.
hiice company in the country iast year
wrote s3lG,000.00o Of Insurance the
, government; wrote s356.0DoOo 81 new
9oiicies this month. when business was
| declining. 40
Up 20 day $500 awards had b.or
| made on deaths OF soldiers or sailors
ioG amounts aSgresatirg S294.I QUO