Jasper County Democrat, Volume 21, Number 89, Rensselaer, Jasper County, 5 February 1919 — GENERAL AND STATE NEWS [ARTICLE]

GENERAL AND STATE NEWS

Telegraphic Reports From Menu Parts ot the Country. SHORT BITS OF THE UNUSUAL Happenings In the Nearby Oltles and Towns —Matters of Minot Mention From Many Place#. ABOUT SOLDIERS’ INSURANCE Government Announces Convertible Plan —Practically Means • Old Age Pension. Washington, February 4. —Conditions under which Boldlers or sailors now holding government lit© insurance may convert these policies within five years into other forms which can he carried with the government during their lifetimes were announced by Colonel Henry D. Llndsloy, of Ihe war risk insurance bureau. Rates will be made public soon, and the new policies will not be available until then.

There will be six different kinds of insurance —ordinary life, twenty payment, thirty payment, twenty year endowment, thirty year endowment and endowment payable at the age of sixty-two. All policies will contain clauses (providing that in case of permanent total disability of* the insured man, the government will make monthly payments to him and the premium payments will cease. This amounts virtually to old age* pensioning and disability insurance, and Insures that no man who has served in the army or navy need ever be destitute if he carries the government insurance. All policy holders will participate in, dividends, and earnings of more than 3% per cent, from the insurance fund will go Into dividends. Since the reserves will he invested in government securities, most* of which will pay in the neighborhood of 4% per cent,, it is certain that there will be large dividends to be returned periodically to policyholders. Collections of premiums will be made through postmasters in each community.

Although the rates have not yet been announced, Colonel* Lindsley said Ahey would be so low that officials of prfivate insurance companies which assisted in drafting the rate schedule had admitted their companies could not compete with them. Any man now In military or naval service holding government term life insurance can obtain the ntew for*?, but the amount will be limited to his holdings, which in no case are more than $1 0,000. The government urges all men to continue to carry their present policies, but to convert these as soon as they are financially able within the next five years.