Washington standard. [volume] (Olympia, Wash. Territory) 1860-1921, 1920-05-14
j. S. NEW INSURANCE
POLICIES NOW READY
VICE MEN AS TO GOVERNMENT
LIFE INSURANCE.

Secretary of the Treasury d. F..
Houston, has officially approved forms
of thenew permanent policies of ex-
ceptional liberality into which firm ar
service men may cnvert wartime
(term) insurance. Announcement is
made by Director r. G. Chomeley-
Jones of the bureau of war risk in
surance that converses into the new
forms of insurance, already have pass
ed the half billion mark Liberal
ruling permits reinstatement of laps
ed or cancelled insurance before July
1. 1920, regardless of how long SER
vice man has been discharged, by
payment of only two monthly pre-
miums on amount of insurance to be
reinstated, and satisfactory statement
of health with application.
When Congress passed the War
Risk Insurance Act, which has been
characterized as ''the most liberal
ever placed on the statute books Of
a grateful nation" 1t proved that the
war time policies, which were planned
to endure for only FIVE years. might
be converted into permanent forms of
Life Insurance to be isued by the
United States Government. An
nouncement of the actual provisions
of the new policies which now is made,
was deferred until necessary supple
mental legislation could be passed.
in order that the policies might be
made models Of liberality.
These policies are isued to former
and active service men and women Of
the American forces, on terms which
have been made exceptionally favor
able, in recognition of their sacrifices.
The Government pays all the costs OF
administration.
Others Cancelled their War Risk
Insurance or permitted it to lapse.
Inasmuch as it is necessary that the
War Risk (term) Insurance must be
IN effect at the time of conversion
to one of the permanent forms Of
insurance, it is anticipated that many
who dropped their insurance will
hasten to reinstate 1t under the lib
eral ruling which permits reinstate-
ment of lapsed or Cancelled insurance,
any time before July /, 1920, on pay
ment of only two monthly premiums
on the amount of insurance to be
reinstated. the application to be ac-
companied merely by satisfactory
statement of health.
The six permanent forms of United
States Government Life Insurance in
to which the war time insurance may
be converted are:
(D Ordinary Life.
(2) Twenty-Payment Life.
CD Thirty-Payment Life.
(4 Twenty-year Endowment.
(5) Thirty-year Endowment
(6) Endowment maturing at age
So.
The New and Important Features.
The principal features included in
the United States Government Life
Insurance contracts, which have been
approved by Secretary of the Treas
ury d. F. Houston and are being
issued by Director r. G. Cholmeley-
Jones of the Bureau of War Risk
Insurance are:
First, that the insured has three
optional settlements.
Option 1. Insurance payable In
one sum. Settlement under this
option will be made only when the
form has been selected by the insured
during his lifetime or the payment
in one sum is requested in his last
will and testament.
Option 9. Insurance payable in
elected installments. The monthly
are payable for an agreed
of months under their form
of contract (not less than thirty-six)
to the designated beneficiary. but IL
such beneficiary dies before ID
agreed number of monthly INSTALL
ments has been paid. the remaining
unpaid monthly installments will DO
payable in accordance with the bene-
ficiary provisions Of the policy.
Option 8. Insurance payable in in
stallments through life. The INSTALL
ments may be payable throughout
the lifetime OF the designated bene'
ficiary If they so elect. but If such
beneficiary dies before two