The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1927-06-25
WAR Vets MUST
ACT QUICKLY TO
GET. INSURANCE
Time For Reinstating Gov.
eminent War Risk Insur.
ance Expires July 2

insurance, O1tere0 by the gOVernmen
to ex-service men, will expire July 9,
has been issued by T.. o. Kraabel,
state veterans service officer, whG
urges every veteran to reinstate is
insurance policy before it is too late.
The insurance protection is Offefed
at cost and can be had on such
terms that no veteran should be with
out it, Kraabel said. - !.
During the period of the late war
the government insured men in the
service to the extent Of $4,000 or
less each, charging nominal term
rate per month which was deducted
from the mans pay check" Kraabel
said.
"After the cessation Of hostilities
this privilege of War Risk Term In
surance was extended, and later
seven standard forms Of life insur-
ance policies were offered to those
who wished to convert their term in
surance to q permanent form. The
reason for this was that the term
rate increased from year to year and
at the older ages would become
prohibiti~e in cost. A level rate in
surance was instituted, available to
all veterans who served during the
period specified and in the amounts
for which they were originally COW
cred.
Reinstatement IL Simple
LAS the matt'~ now stands any
veteran in good health may reinstate
and convert any amount of his origi-
nal War Risk Insurance by submit
ting properly completed applications
for reinstatement and conversion, re-
port of medical examination, and an
amount sufficient to cover the term
premium for the month insurance
was dropped and an advanced pre-
MUM on the new form Of insurance
chosen. on or before July 2, 1927.
For an example, John Doe was dis
charged in July, 1919. His insur-
ance age was then "a. He was paying
$500 per month for his $4,000 War
Risk Insurance. The last month he
paid for this was July, 1919. At this
time he wishes to reinstate and con-
vert $4,000 of this insurance. He will
first have to pay the back premium
on $4,000 for the month of lapse
August, l9l9-at the rate prevailing
at that time: 66 cents per $1,000 pei
month or $l.98. He wishes to con.
vert to the five years Convertible
Term Policy and to pay the premium
in monthly installments. His age
now is 80. The rate of this policy
per $1,000 per month is 70 cents. The
first monthly premium in advance
on the new policy is accordingly
$2.19. Hence the total cost of rein
statement and conversion for Mr.
Doe would be as follows:
Reinstatement of $1,000
Premium for month Of lapse .$l.9s
Conversion to five years Term
Premium for first month $50. 2.19
AOSuI SOSt $4.l
Convertible in Five Years
Thereafter. Mr.. Doe would have ia
pay, $2.19 per month for five years
to keep his insurance in force. Al
any time during the five years hi
! may again convert to any of the fol.
lowing permanent forms Of policies
Ordinary Life; 3O-year Payment;
2O-year Payment; 3O-year Endow.
ment; 2O-year Endowment; and En-
dowment at g..
He also could convert to one OF
these plans of policies at the time
OF reinstatement and pay his pre-
| MUM either monthly, quarterly, semi.
annually or annually. The five year
convertible term policy is recon-.
mended for purchase by those wi. :
find it temporarily. inconvenient ia
pay the higher premium on othe,
forms Of converted policies.
"In the case of q disabled vet.
eran, not permanently and totally
disabled and whose physical disabii.
ity is the result of an injury or dis.
ease suffered in active service, il
will be necessary to pay all the back
term premiums from date Of lapse
with interest at rate of five per cen,
per annum, compounded annually
1t the veteran is unable to pay the
amount due on account of such back
premiums, makes a showing to- tina,
effect, and meets all other require
ments for reinstatement and CONVEX.
sion, his application will be ap
proved and the amount due will b.
placed as an interest bearing in
debtedness. against his insurance"
These are the salient points rel.
alive to Government Life Insurance
1t is urgently requested that all ex
service men who read this remind
their comrades, and get in touch
with the local Legion Post, u. S
Veterans Bureau at Fargo or tn.
Service Officer. American Legion
Fargo, North Dakota. Blanks ant
further information will be furnished