OCR Text |
Show Will Benefit 3,427,866 Washington, May 19 It is estimated esti-mated that 3,038,283 veterans will be entitled to the insurance policies provided by the soldier bonus bill enacted into law today, while 3S9,-"18 3S9,-"18 3 will be paid cash of $5 0 or less. The bill also' provides for payment to dependants of deceased veterans of :he amount of adjusted service compensation to which they should be entitled. Adjusted service compensation is figured on the basis of $1 per day for home servisce and $1.25 a day for over seas service. The first sixty days cannot lie counted. Also a maximum max-imum of 500 days will be allowed All vettrans nn to and including 'the rank of captain in the Army and1 'Marino Corps and lieutenant in the Xavy are eligible for the bonus. ! It is estimated that the average insurance policy would be valued at I?9fi2. while the maximum value of ihe polities would be about $ 1 P n 0 I for overseas service and $1600 for ' heme service. The value of the policy would be I 'he equivalent of the amount which j the adjuster! service credit plus 25 per cent would purchase at rccnW i-urance prices baced on 4 per rent interest compounded annually. ' An-i'-'ca ' '"en fr,r the bonus may be made any time before ,Tan"arv 1. h'T the cah pevment- w-'ll r.n' e distribute. 1 nn'il after rext March 1. j Lfirn nay be made on the poli cies up to 9 0 per cent of their current cur-rent face value at any time after two years from the time of issuance. Thus, on a $1000 policy at the end of two years a loan of $87.93 could be made. On this same policy at the end of nineteen years a loan of ?S31.23 would be possible. The loans may be made at any national or state bank. Service between April 5, 1917 and July 1, 1919, may be counted: in computing com-puting the adjusted service credit, although enlistment must have been made before November 11, 1918. Application blanks soon will be distributed throughout the country '. through service organizations and the postoffices. Although admlnstration ! of the bill will center in the Veterans' Veter-ans' bureau, the veteran will have to S"nd his application to the War le- j partment if his service was with the j Army and to the N'svy department if service was with the Xavy or Marine I corps. If the veteran served in both I the Army and N'avy the application should be sent to the department un-1 Vr which he last served. j Women who Frvrl as yeomen in j 'he Xav1- and Marine corns also have 'een. included in the bill as eligible ! 1 receive its benefi's. I' is stipulate'', that no one should S" erMMe.-! to i's l,'-f r.p for srevice a c'ri' nner r,r for membership ti,e re-erve n"i(''- training corps t the students army training corps. |