Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1920-06-24

| NAMING UNPAID monthly INSTALL
ments will be payable in accordance
with the beneficiary provisions of the
policy.
Option 8. Insurance payable in
installments through life. The in
| stallments may be payable through
out the lifetime of the designated
beneficiary If they so elect, but if
such designated beneficiary dies be-
fore 240 installments have been paid
the remaining monthly instaIlments
will be payable in accordance with
the beneficiary provisions of the pol
icy.
Second, the policies provide for to-
tai and permanent disability benefits
to the insured covering the entire
period the policy is in force and dur
ing the period of the insured's total
| and permanent disability. The to-
tai and permanent disability feature
| is also included in the paid-up and
extended features OF the policy con-
tract,
Total permanent disability as re-
! ferred to in the policy contract is any
impairment of mind or body which
| continuously renders ii impossible
for the disabled person to follow any
substantially gainful occupation and
| the diagnosis of which is founded
upon conditions which render it reas-
onably certain that the impairment
will continue throughout the life of
the person suffering from it.
| The total permanent disability
benefits may relate back to a date
not exceeding six months prior to re-
ceipt of proof of such total perma-
| nent disability, and any premiums
becoming due after the date of such
! disability and within such. six months
If paid, shall be refunded without
| interest.
Without prejudice to any other
cause of disability, it is agreed that
the irrecoverable loss of the sight of
| both eyes, or the loss of both feet or
one hand and one foot, shall be con-
sidered as total permanent disabil-
ity within the meaning of the con-
tract; and monthly Ihst&llments for
any of these specifically enumerated
! causes of total permanent disability
shall accrue from the date of such
! total permanent disability and any
/ premiums becoming due after such
/ total disability, if paid, shall be re-
! funded without interest.
| IL there is loan under the policy
! then payments on account o. total
| permanent disability shall be ad-
! justed accordingly.
! If the policy be an endowment pol
| icy and one or more monthly install
| n-ents have been paid on ac ,unt Of
! total permanent disability, the insur-
| ed may, at the end of the endowment
r.; Cd, surrender his policy fof the
committed value of installment (249
less the nuTaer paid less any in
| debtedness.
Third, the policy shall participate
in and receive such dividends from
gain. and savings as may be deter
| mined by the director of the bureau
CT war risk insurance with the APP
prevail of the secretary of thu treas
ury Any dividend so appropri lted
may be taken in cash, and y not so
taken, shall be left on deposit to ac-
cumulate at such rate of interest as
the secretary may determine. but at
4 ,atc never less than 81 percent
compounded and credited annually,
and payable, IL not previously with
drawn, at the maturity of each policy
to the person entitled to its pro-
ceeds.
Fourth, the policies shall be in
contestible from the date they take
effect except for on-payment of the
premiums and are issued free of re-.
strictions as to travel, residence, oc-
cupation of military or naval service
except that the discharge or dismiss
al of the injured from the military,
or naval forces of the United States
on the ground that he is an alien en-
envy, conscientious objector, or a de-
serter, or as guilty of mutiny, treas
on, spying, or any offense involving
the moral turpitude, or willful and
persistent misconduct shall terminate
this insurance and bar all rights
Hereunder.
Fifth. cash surrender and paid up
insurance, extended insurance and
policy loan provisions shall be effec-
tive only after premiums for IL full
months have been paid-all values,
reserves, and net single premiums
being based on the American Expert
ence Table of Mortality, with inter-
est at " percent per annum.
Sixth, premiums are due and pay
able on the first day of each calendar
month in advance in legal tender of
the United States of America to the
treasurer of the United States in the
city of Washington, d. c. Prem
iums may be paid annually, semi
annually or quarterly, in advance, in
which case the premium payable will
be the sum of the monthly premiums
for the period discounted at X per-
cent per annum. At maturity by
death or otherwise, the discounted
value at Y per cent per annum of
the premiums paid in advance be-
yond the current month shall be re-
funded to the insured, IL living, 9TH
erwise to beneficiary.
Seventh, the government policies.
il not surrendered for cash .surren-
der value, may be reinstated at any
time after lapse upon evidence of the
instability of the insured satisfac
tory to the bureau of war risk in
surance, and upon the payment Of
all premiums in arrears with interest
from their several due dates at the
rate OF percent per annum, and the
payment or reinstatement of any in
debtedness which existed at the
time OF such default with policy loan
interest. However, II such indebt-