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Show Many Veterans Are Losing Rights to the New Government Sponsored Life Insurance Many veterans discharged from the U. S. Armed Forces since the beginning of the Korean conflict con-flict are losing their rights to the new Government life insurance as civilians, according to the Veterans Administration. They are losing this, privilege, because they fail to apply for the insurance within 120 days following - their discharge, VS said. Under the new insurance and indemnity acts of 1951, those serving in the U. S. Armed Forces, anywhere in the world, since the beginning of the Korean Ko-rean Campaign, June 27, 1950, are eligible for 510,000 indemnity coverage, less any U. S. Government Govern-ment or National Service life Insurance In-surance they have and elect to retain. This Indemnity coverage protects pro-tects them while in service, and for 130 days following their discharge. dis-charge. These veterans, without service-connected disabilities, who served at least 31 days since June 27, 1950, are eligible for a new twpe, low-cost term policy in amounts from $1000 to $10,000, less any other government life Insurance in force at the time. But, unless they apply in writing writ-ing to the Veterans Administration, Administra-tion, Washington, D. C, and pay the required first premium during dur-ing the 120 days following their discharge, they have forfeited their right, as veterans, to any type of new government insurance. |