Douglas daily dispatch., 1927-02-05
VETERANS URGED
TO REINSTATE
WAR INSURANCE

! During the World war the United
States government first entered the
! insurance business and it is estimated
| that during; that period 95 per cent of
! the five million men and women in the
active military and naval service car
fried policies ranging from $1,000 to
$4,000. At it's maximum there was
$40, ,543, TAI, 500 of insurance in force.
which was probably the largest insur-
ance activity in the history of life in
surance.
Since the right to life insurance was
granted the government has disbursed
as benefits, either on account of death
or total permanent disability, 1884,
976,S240S up to December 1, 1926. On
June 80 1926, monthly installments on
term insurance were being paid to H.
SO2 permanently and totally disabled
/ veterans and to the beneficiaries of
j141916 deceased veterans. The aver
tdisabled veterans was SAG, and to the
{ beneficiaries of veterans $51.75. The
j value of term insurance being paid
! because of death from disease is $685.
643, ,6G9, and from accidents and injur-
! les other than injuries received in ac-
zion, $91, ,6OO,729.
! At the present time there is a con-
siderable amount of government insur-
!, ance in state of lapse which can be
reinstated at a nominal cost, thereby
giving protection to the dependents of
veterans However, all government in
( surance must be reinstated and con-
| yerted by July 2, 1927, in accordance
with the present law.
in ornOd bna1fb rein
state the whole or any part or the in
surance which he carried during active
service by paying but two premiums,
| one for the month in which 1he insur
ance lapsed and one for the month IN
which the reinstatement becomes cf-
fective. These premiums are based
upon the veterans age ut the time of
lapse and reinstatement.
A disabled veteran, except those to-
tally and permanently disabled, may
reinstate their insurance in exactly
the same manner as a veteran in good
health, with the exception that all
lapsed premiums, together with 5 per
cent interest per annum thereon, must
be paid. In cases where the disabled
veteran is financially unable to pay
these lapsed premiums they may be
carried as lien against his policy and
deducted when the policy natures. A,
totally and permanently disabled vet
eran may not reinstate insurance for
the, reason that when he becomes to-
tally and permanently disabled his in
suranee becomes a claim.
AS has been stated, all term Cor war
risk insurance must be reinstated and
converted into a permanent form of
government insurance on or before
July 2, 1927. The, government offers
the following forms of permanent in
surance:
ordinary life, 20-year endowment.
2O-payment life, 9O-year endowment.
SO-payment life, endowment at ageI
of 62
Five year level premium policy.
The five year level premium policy
is new insurance feature. The pre-
lnium rate on this policy is a little
higher than the term premium and
lower than the premium rate on an
ordinary life policy. AS the name inn
plies, the premium rate is fixed and
does not change from year to year. A.
veteran carrying a five year level
premium policy may convert it into
any of the other forms of government
insurance at any time during the five
year period If the veteran has not
converted his five year level premium
,folicy at the end of that time it auto
m natically becomes an ordinary life
no1fcy and the premium rate is based
upon the veterans age at that time.
President Coolidge issued a procla-'
nation January II in which he urged
every veteran to reinstate at least
part of his insurance before July 81
1927.
The time for filing applications for
adjusted compensation certificates,
commonly known as the bonus" will!
expire on December 81 of this year.
Climate Club Tourists
c. r. Llewellyn of Kahoka, Mo-,
and his daughter, Mrs. Henry Dyke,