Show G. G I. I Insurance In response to numerous requests for clarification of 01 the sum lump-sum payment plan for G. G I. I Insurance which Congress recently established A A. M. M Tatum re regional re- re regional regional gional insurance officer for tor the Veterans Administration in Utah this week point point- pointed ed out that under the new provisions all beneficiaries will not be eligible for forthe forthe forthe the cash settlement in case of 01 death of the insured According to details Just received I I lump sum payments will be made only on policies in force after the date of ot passage passa of 01 the Act August 1 1 1946 In other words those beneficiaries of 01 men killed in service e or at a any time before the date of 01 the Act must still be paid on the old plan of monthly payments Still another restriction to the cash settlement plan Is a a. provision n in the amended act which requires that the insured before his death must person person- personally personally person person-I ally indicate his choice of a lump sum sumas sumas as ns the method of ot payment If this Is not done his beneficiaries must select one I of 01 the tho monthly payment plans Mr Tatum points out that this last provision insures that the veteran him him- him I self sel shall have a voice in how he wishes his insurance to be bc paid in the case of hill death This will prevent large sums of 01 money from falling into the hands of ot irresponsible beneficiaries who might t live a B lifo life of ot Riley for a n time and then become public charges Experience following World War I brought this situation to light time and again Mr Tatum cautions veterans vetel ns that the tho cash cosh settlement plan plon should be chosen only with a n specific purpose in mind and that ordinarily beneficiaries have been far better provided for under a life or extended Income plan |