Evening star. [volume] (Washington, D.C.) 1854-1972, 1940-10-10

aries under the age of 80 will receive
the amount due the insured in 240
equal monthly installments. Those
over 80 will receive 100 monthly pay
ments as a minimum, after which
payments on the balance will be
continued during his or her life
time. In the event of the continuous
total disability of the insured for
six months the payment of further
premiums will be waived.
The new policies will be available
to all men in the armed forces by
application within 100 days after
| induction into the military or naval
services. No medical examinations
will be required. Government in
surance will not be granted to con-
scientious DIRECTORS, nor to those
whose military service does not ex-
tend beyond 80 days. A soldier who
fails to apply for the insurance
within 100 days after he enters the
service can still obtain a policy,
however, if given a health clear
ance by Army doctors. The Gov
eminent, as it did in the World
War, will pay the costs of admin
istration and meet any losses Which
may arise due to excess mortality,
and the waiver of premiums on ac-
count of total disability.
The House bill contained no pro-
visions for Government insurance.
Following the Presidents message
of September Ia, the Senate adopted
an amendment to provide insurance
for members of the armed forces,
and system of allotments and
allowances for their dependents. The
Senate amendment also proposed
unemployment allowances for SOL
diers and sailors at the end of their
services, with provisions to preserve,
during their period of active duty,
the benefits to which they were
entitled under the Social Security,
and the Railroad Retirement Acts.
Protects Railroad Employees.
In addition to establishing Ma
tional Service Life Insurance, the
bill in its final form contains pro-
visions to prevent the loss of an
unity credit under the Railroad Re-
tirement Act by railroad employees
called into military service. Under
the law, the period spent in military
service will be counted in comput-
ing the amount of annuities, and in
determining eligibility for annuities.
Congressional committees will
make a study of the problem Of pre-
serving the social security benefits
of those called to the colors. At the
next session Congress is expected
to take appropriate legislative action
to prevent the lapse of these bene-
fits and to assure that military serv-
ice will not change the status of
workers now covered by the Social
Security Act.
An amendment approved by the
Senate permitted credit against the
Federal unemployment tax for con-
tributions to State unemployment
funds by concerns with eight or
more employees. The credit would
be allowed for the calendar years
1885, 1889, inclusive. The conference
limited the credit for 1899 and sub
sequent years to 80 per cent of these
contributions.
OF the 100000 active corporations
in the United States, about $4,000
will be required to pay an excess
profits tax, according to estimates of
experts. Though the tax applies only
to corporations. indirectly. it will af-
feet many individuals by divertlng
to the Treasury, instead of stock
holders, a substantial part Of the alb
normal profits of American industry.