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Show GI INSURANCE NOT REOPENED FOR VETS WHO LET 'TERM' DROP GI life .insurance has NOT been reopened for veterans who allowed their term policies poli-cies to lapse after World War II, Veterans Administration said today. The agency said the statement state-ment was prompted by many inquiries from World War II veterans seeking to get back their long - lapsed National Service Life Insurance term policies. News of a Congressional bill containing an amendment which would have provided for a general reopening of NSLI to World War II veterans vet-erans was widely circulated, VA added. But, VA emphasized, the bill was later changed to eliminate elim-inate the NSLI reopening provision. pro-vision. Lapsed term policies, however, how-ever, may be reinstated if application ap-plication is submitted before the expiration of the 5-year term period, and if the veteran veter-an can meet the health requirements. re-quirements. These term policies poli-cies can also be converted to any one of six permanent plans of insurance. Any permanent plan policy which has lapsed and has not been surrendered for cash or paid-up insurance can be reinstated re-instated at any time by the payment of all back unpaid premiums and compliance with health requirements, VA said. |
