Milford chronicle., 1954-07-02
Farm Bureau Revamps
Entire Policy Set-up

The Farm Bureau Insurance
Companies today announced that
they have revamped their entire
accident and health program and
issued six new accident and health
policies.
President Murray d. Lincoln
said the new program will include
nOn-cancellable policies, schedule
type policies, and the first field
issue, schedule-type policy ever
offered.
We're trying to keep pace with
the changing needs of people" Mr..
Lincoln said. I'VE believe the old
disqualification policies offer made
Quate protection in view of rising
costs Of hospital and medical care.
We're meeting this problem by de-
signing new coverages with larger
benefits. We've madernized every
accident and health policy we have
and we're going to isgue certain
new policies to cover specific occu-
pational groups"
In addition, Mr.. Lincoln said, a
new major medical expense policy
is being issued to help families
meet the cost Of really budget
breaking illnesses. It is designed
to supplement the popular kind Of
medical insurance which covers
only minor illnesses, hospitaliza-
tion, and surgery up to a few hun
dred dollars. The new policy pays
a maximum of $4,000 for each acct
dent or illness.
The need for such ''backstop"
coverage, Mr.. Lincoln pointed out,
is emphasized by the fact that
catastrophe illnesses, though in
frequent, account for at least half
the medical expenses paid by
American families.
Five other new policies are in |
clSasS in the companies accident |
and neaith program:
ID A policy for business and
professional people that will pay |
up to $500 per month for as long
as a lifetime for total disability |
which results from an accident. If.
because of illness, the policyhOlder
is totally disabled, the policy will /
pay up to $400 per month for as
long as "a months with waiting
periods of either seven or 80 DAYS.
With waiting periods varying from
90 to 100 days-an arrangement
new in the MISUNDERSTANDING
will be payable from SO to so /
90 A somewhat similar policy |.
for men and women in all occupa-
tions except the most hazardous.
The benefit limits are the same ex-
cept that the accident monthly in
demnity is limited to four years
and the sickness indemnity to one
year. This policy can be field
issued-that is, written on the spot
Dy the agent-in most of the states
IN which the companies operate.
~ A nOn-cancellable and guar
anteed renewable policy for busi-
ness and professional men which
pays a principal sum up to s15.-
OOO Tor loss of life; up to $500 per
month for up to five years for total
disability due to accident or sick
ness; and up to $3.50 per month
for up to six months for partial
accident disability. Loss of sight
Or limb is regarded as total dis
ability regardless of actual dis
ability.
(4) A non-cancellable and guar
lnteed renewable policy for men
in many jobs other than
and professional occupa-
ions but excluding the most baz-
lrdous. -''-
(5) A family hospital and surgi-
;al expense policy, similar to the II
popular kind Of medical insurance.
but broader in some respects. pre-
MUM will be charged, for example
or the husband. wife, and only the '
lrst two children. Maternity bene-
Its have been expanded over those
y previous policies. Amounts nav ]
t0ie for a Caesarean delivery are
loubieh and, in the case of a mnI-
iple birth, the maternity dement's s
lre simply multiplied by the num-
'er 81 children born. Termed tbe (
quint eoVerage". it is unique in
ne insurance industry.
hir. Lincoln said the new policies /
re being produced in nearly ALI
tates in which the companies op-