Kankakee Valley Post, Volume 18, Number 27, DeMotte, Jasper County, 4 June 1948 — It’s Cheaper To Pay By The Year [ARTICLE]

It’s Cheaper To Pay By The Year

G. I. Can Save Themselves Time As Well As Money By Paying Once A Year Mr. Earl Hemphill, Jasper County Veterans’ Affairs officer, pointed out today that Hoosier World War II veterans who have G I insurance can save themselves time, money and inconvenience by paying their premiums on an annual, semi-annual or quarterly basis rather than monthly. Mr. Hemphill said a three percent discount factor is used in computing premiums paid annually, semi-annually and quarterly, and added that veterans can also rid themselves of the extra expense necessary in making frequent remittances. At the same time, he said, the less frequent payments will greatly reduce the danger of a policy lapse because of a veteran’s failure to make timely remittances. The Veterans’ Affairs officer also took this occasion to remind veterans that the deadline for reinstating a lapsed G I insurance policy, without a physical examination, is July 31, 1948. Two steps are necessary to bring the policy up to date. First, the veteran must file an affidavit that his health is as good as it was at the time of lapse, and, secondly, he must pay two monthly premiums.