The Pioche record. [volume] (Pioche, Nev.) 1908-1925, 1920-05-21
Former Service Men May Now
Convert Their Insurance Into
Permanent Policy.
PROVISIONS ARE VERY LIBERAL
Ruling Permits Reinstatement Of
Lapsed or Cancelled Insurance Be-
fore July I, Regardless Of How
Long Man Has Been Discharged.

Washington.-Whenc congress passed
he war risk insurance act, which has
been characterized as "the most lib
eral law ever placed on the statute
books Of grateful nation" it provided
that the wartime policies, which were
planned to endure for only five years.
might be converted into permanent
forms of life insurance to Ie issued 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 liberalty.
These policies are issued 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.
A total of 4,610,3SS applications for
war risk insurance. representing more
than S4O,OOO,0OOOOO, have been re-
ceived in the bureau of war risk insur-
ance. The applicants, in many cases,
have been awaiting definite announce
ment of the terms Of the new policies,
before applying for conversion of their
war risk insurance TO permanent forms.
Others Cancelled their war risk insur-
ance or permitted it to lapse. Inasmuch
as II is necessary that the war riSl,
| (term) insurance must be in effect at
the time of conversion to one of the
| permanent forms of insurance. it Is an
| ticipated that many who dropped Their
insurance will hasten to reinstate II
under the liberal ruling which permits
reinstatement of lapsed or cancelled In
surance, any time before July l, 1920
on payment Of only two monthly pre-
NUNS on the amount Of insurance t.
be reinstated, the application to he &C
companied merely by satisfactor!
statement of health.
The six permanent forms of United
States government life insurance int,
which the wartime insurance may b.
converted are:
l. Ordinary life.
2. Twenty-payment life.
5. Thirty-payment life.
4. Twenty-year endowment
5. Thirty-year endowment.
6. Endowment maturing at age sixty
two.
The New and Important Features.
The principal features in the Unite
States government life insurance cor
tracts, which have been approved
Secretary of the Treasury u. F. Hou,
ton and are being issued by Directc
r. G. Cholmeley-Jones of the bureau {
war risk insurance are:
First. that the insured has thre
optional settlements:
Option 1. Insurance payable in or
sum. Settlement under this option wi
be made only when the form has bee
selected by the insured during his lif
time or the payment in one sum is r
Quested in his last will and testament
Option 2. Insurance payable in cleo
ed installments. The monthly insta
ments are payable for an agreed nul
Der Of months under their form Of CO
tract (nOt less than 63 to the deSi
mated beneficiary, but If such ben
ficiary dies before the agreed numb
Of monthly installments has been pal
the remaining unpaid monthly
stallments will be payable In accor
ance with the beneficiary provisions
the policy.
Option 3. Insurance payable in insta
J ments through life. The installmer
. may be payable throughout the III
time Of the designated beneficiary
they 20 elect, but II such designat