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Show Here's Vital Information for Returning Vets Editor's Xote: Following Is the first of two articles in question and answer form giving giv-ing details and information on the national seviee life insurance, in-surance, program for veterans of "Vorll War 11. The information informa-tion is authentic, coming from the Veterans administration which alministers this insurance, insur-ance, and is being disseminated disseminat-ed in the Bulletin through the Sugar House Post, 65, American Ameri-can Legion. Any veteran desiring de-siring Hlditional information , or explanation on this subject which is of vital concern to I every returning veteitin should contact officers of the Legion Post- What is the National Service Serv-ice Life Insurance program administered by the Veterans administration? The life insurance program being administered by the Veterans Vet-erans Administration is of interest in-terest to every person now engaged en-gaged in the war and to those discharged or released from service. What types of life insurance are available to service people peo-ple and veterans of this war? A. When a person is sworn into active service of " any branch of the Armed Forces in this war, he or she is given an opportunity to apply for and receive National Service Life Insurance In-surance in amounts starting at $1000 anl up to $10,000, -without medical examination. This is five year level premium term insurance, and only recently, the insurance under this plan was extended three additional years after the end of 1945. Is that the only type of life insurance a person entering enter-ing the services in this war can apply for? A. Yes, that is the only type ot life insurance available to them when they enter. However, after aft-er that type of insurance has been in force for one year, and before the expiration of the term limit, it can be converted to ordinary life, sometimes call-el call-el straight life, 30-pay life or 20-pay life. These are known as permanent forms of insurance, or combined protection and investment in-vestment forms. Q. Getting back to the extended ex-tended 5-year term insurance first issued to service people has that any acumulated value val-ue for the insured after it has been in force, say for two or three years? A. Practicaly no reserve is built up on this plan of insurance. insur-ance. The reason for this is that the premium or cost of the insurance was placed by the government at a very low figure and is estimhted to be 'sufficient 'suffi-cient to pay for protection only. The five-year term insurance is excellent protection for a beneficiary, bene-ficiary, but the cost does not warrant the accumulation of monetary benefits for the person per-son insured. Additional Questions and answers an-swers on national service life insurance for veterans of World War II wil be published publish-ed in next week's Bulletin. |
