The Key West citizen. [volume] (Key West, Fla.) 1879-current, 1946-08-07
Insurance Benefits For Vets
LiberaIized By New Amendment

1910, all veterans of South Flor
ida are urged by Vernon S. Par
ker, manager of the Veterans
Administration Regional Office
at Miami, to start making plan:
for the changes they will wish to
make in reference to payments
beneficiary clauses, endownnentS
and other phases which now are
in effect.
Parker has called special atten-
ton to the new amendment
which entities all persons who
served in the armed forces be-
tween October 8, 1910 and Sep
TENDER 2, 1915, to National Serv-
ice Life Insurance in any amount
up to $4,000. "This means that a
qualified veteran who never held
NSLI now can apply for a policy
and those who do not hold a
full $4,000 policy can apply for
the full limit" Parker said.
a Good Policy
In addition to the recent
amendments which make NSLI
as good if not better than any
policy a veteran can have, the
VA has deeentralized 100000 >
600 in NSLI policies from Wash
ington and New York to the
Southeastern Branch office in At
lanta in an effort to handle in
dividual insurance matters for
veterans with speed and accur-
acy, j. M Slaton, Jr.; VA Deputy
Administrator for the five South
eastern states, has advised Park
er.
The decentralization program
went into effect August z and all
veterans are urged to send all
correspondence concerning NSLI
policies directly to the Atlanta
office, instead of to Washington
or New York.
Where To Pay Premiums
All. premium payments from
veterans of Florida, Alabama,
Georgia, Tennessee and South
Carolina now should be mailed
directly to Insurance Service
NSLI, Veterans Administration,
Branch No. 5, Atlanta 8, Georgia.
Parker also revealed that veter-
ans who live in the vicinity of
the VAS Miami Regional Office
may make payments in person
to the agent cashier at the Din
ner Key office.
Parker urged that veterans al
ways include their full name,
policy number, and service serial
number with payments or other
correspondence in connection
with policies.
Under the new provisions of
the NSLI Act amendments, set
tlement of any policy may be
made in a single lump sum to
beneficiaries, or the veteran may
elect for payments to be made in
equal m nthly installments,
varying at his desire, from SO to
240 months.
The veteran may assign the
beneficiary interest to specified
relatives of the insured, or he
may designate any person or per-
sons, corporation or his estate as
beneficiary in the policy under
the new unrestricted clauses.
Kinds of Insurance
Total disability payments I'M
der the new provisions mean that
a veteran who is totally disabled
for as long as six months is paid
at the rate of $50 a month on a
$4,000 policy, or SIS a month for
each $1,000 of the policy he does
hold. q
AS originally issued, the per-
manent policies provided in NSLI
we're: Ordinary life, on which the
policy holder pays for as long
as he lives; Repayment life, on
which premiums are paid for
only 20 years, and 30-payment
life.
In addition to these types of
policies the amendment provides
for 20-year endowment policies,
endowment at the age of go and
endowment at the age of 65. On
all of these endowment policies
the premiums must be paid for
the indicated length of time, at
the expiration of which the face
of the policy may be paid to a
veteran.
Endowment Plan
Those veterans who have con-
verted their term insurance to
one of the previously authorized
plans are permitted under the
amendments to change to one OF
the endowment plans.
All persons who served in the
armed forces during the above
mentioned period are entitled to
NSLI in any amount up to $10,I
600. The applicant may have
carried only $4,000. Now he may
get $4,000 more. The veteran may
have no NSLI at all. Under the
amendment he now may get Z