ADVISES RETENTION OF WAR INSURANCE POLICIES

Henry Lindsey, Director of the Bureau of War Risk Insurance at Washington, has written the following article for the CRIMSON, with a view to reminding men of the University, recently released from service, of the importance of continuing their payments on War Risk Insurance Policies and in order to explain to these men several of the less well-known details concerning the conversion of policies and future payment of premiums.

"I strongly advise all those college men who have recently been discharged from the army or navy to continue regular payments on their War Risk Insurance Policies. In the hurry of college life, it is very easy to forget these payments which will mean so much to them later on. If they neglect to keep up the payments now, they will never again be able to take up government insurance at these low rates, because the Government policies are to be issued only to those who served the nation in the army or navy.

May Continue Certificates Five Years.

"The Insurance Certificates which have been issued represent one-year renewable term contracts, and may only be continued for a period of five years from the declaration of peace. At any time during this period these war time contracts may be converted in whole or in part without medical examination into any one of the following six life insurance policy forms: ordinary life, twenty payment life, thirty payment life, twenty year endowment, thirty year endowment, or endowment maturing at the age of 62. The above policy forms will be the only ones written at present, and the insurance will be carried by the Government at rates lower than regular life insurance companies granting similar benefits.

"Expenses of administration are paid by the Government and are not charged against the insurance, thereby granting the insured a net rate. The rates are based upon the American Experience Table of Mortality with interest at 3 1-2 per cent, figured upon a monthly basis. All policies contain a waiver of premium and total disability clause, making the proceeds payable at any time to the insured when he becomes totally and permanently disabled, regardless of his age, in monthly installments of $5.75 per $1,000 of insurance, covering the entire period of total disability for life of the insured. No policy of any life insurance company contains a similar clause without regard to age.

"Premium rates will be based on the age of the insured at the time the conversion is made. For this reason it is well to convert your present insurance into one of the standard forms as soon as possible, in order to take advantage of the lower rates. Premiums which are paid up to the time of conversion merely cover the cost of the term insurance and have no cash value when changing to one of the permanent policies.

"All premiums are due on the first day of each month, and a grace of the balance of the month for payment of premiums is allowed without charge of interest. Premiums may be paid quarterly, half yearly, or yearly, as may be desired. The method of payment may be changed at will on notice in writing. Checks and money orders should be made payable to the Treasurer of the United States, and be sent to "Receipts and Disbursements Section, Bureau of War Risk Insurance, Washington, D. C." The letter inclosing remittance to cover insurance premiums should contain the full name of the insured, his grade and organization at the time of discharge, army serial number, date of discharge, and present address.

"Policies may not be increased, but may be reduced at any time, in case you feel that the premium is more than you can afford to pay. However, I strongly advise all men to keep up their full insurance policies. If you have made no payments since your discharge from the army, send in your back payments at once, before it is too late. Remember that you will surely want to be insured sooner or later, and do not let this opportunity which the Government is giving to every discharged soldier and sail or slip through your fingers. Full details concerning time and terms of conversion will be announced as soon as finally determined upon.