The Bemidji daily pioneer. [volume] (Bemidji, Minn.) 1904-1971, 1920-02-14
VAR INSURANCE N
PROBLEMS !.
- ~ st4,<t. 49, W, = -
:: EXPLAINED TO-.
LOCAL LEGION II \ !
C. II: Giles, Representing Gov
eminent, Gives Advice ! \, 5$ &
on Lap.ed Policies # .S''
SERVICE MEN SHOULD -
FILE REINSTATEMENT
Present Form of Insurance
u Good Five Years After% !,
Peace; Other Forms !,

So~SS OSAA~A
Charles H. Giles, representative OF
the Bureau of War Risk Insurance
and an insurance expert with over
thirty. years experience who clearly
.outlined the features of the War RISK
Insurance before the annual meeting
Of the Ralph Oracle post of, the Amer
lean Legion, Thursday evening, az
the rooms of the Bemidji Civic ana
Commerce association, cleared up
many a hazy idea that the govern
ment insurance was costing too much
since the war is over, and the holders
have returned to their civilian occu-
pations;
Principal Points.
Following are the principal points
brought out by Mr.. Giles in his talk
which proved to be of great interest,"
to all who heard it.: =.
To extend the time for reinstate-
ment of government insurance 10
JUL 1, 1920, a new ruling has been
passed, that all men who have per-
-mitted their insurance to lapse since
receiving their discharge from the
military service of the H.. S. might
take advantage, of the reinstatement:
After July 1, 1920, the original rules
for reinstatement willt:again: apply,
( reinstatement to be, made within ~
months after discharge, unless the
man has made payments on the poll
CIV since his discharge. In that case,
reinstatement must be made within
one wear from the time the last pre-
1nium was paid, even though this
may be more than Is months after
discharge. -
Making Application.
In making application for refill
statement, men who have been dis
charged for over three months must
make a certificate stating that they
are. in as good health and condition.
as when they received their dis
charge. In case application Is made
in less than three months after dis
charge, no certificate as to condition
need be made. Upon reinstatement
two months premiums must he paid
on the amount for which reinstated,
one premium for the month follow
ing that in which discharged and the
other for the month in which rein
stated.
Since the original army insurance
is good for only five years after peace
is declared, several forms of policies
are being Offered into which the
present term insurance may be ron
verified. Any man who is financially
able to convert his policy into one OF
these forms of Insurance., such as
REIMBURSEMENT plan or twenty year
endowment, should do so at once and
! not wait until later when, on account
OF. the increase of his age, he Will
have to pay higher rate. For those
who are not able to pay the higher
permium on the converted policies at
present should hold to the term in
surance and then, when the -oppor-
.dunity offers, convert it into the form
which is desired.
Policies Are Liberal. -
The government policies are far
- more liberal than similar policies in
private companies. The government
polieies have a cash surrender and
loan value, which commences one
, wear after the taking out of the
pOllCy~ NOluQdI1 oAO" SAA~~ S-~~
war risk insurance plan. in the long
run, Is far more expensive than the
converted policies, although at the
start the premiums are much higher.
Instead of the increasing premium
under the, term insurance, the pre-
mium for the converted policies re-
mains the same throughout the en-
tire time of payments and the rate is
figured according to the nearest
birthday at the time the policy is
converted.
Since the passage of, the Sweet bill
government insurance on converted
policies, in case of death, will now
be paid either in a lump sum or in
stallments as may be requested by
the applicant. Unconverted service
insurance is still payable in install
1nents. Should the applicant request
Z, that the payments be made in lump
I sum or in installments covering any
tperiod of time over SO months, the
Beneficiary may receive the payments
over a longer Period of time by so re-
1uesting but not over shorter
period.
COMPENSATION Paid.
= Besides the insurance the govern
ment pays compensation to all mer
who were disabled through sickness
or injury resulting from their mill
tary service during the war. Every