Page:United States Statutes at Large Volume 40 Part 1.djvu/428

 SIXTY-FIFTH CONGRESS. Sess. I. Ch. 105. 1917. 409 Arrrrcnn IV. INSURANCE. Insurance. Sec. 400. That in order to give to eveigrplommissioned officer and s0,‘Q*§`“{{”§,,E,‘}c§uun*f,°§; enlisted man and to every member of the y Nurse Corps (female) ;1l:gt§’§%;Y and of the Navy Nurse Corps (female) when employe in active tion. P pp service under the War Department or Navy Department greater protection for themselves and their dependents than is provided in Article III, the United States, u n application to the ureau and without medical examination, shall)grant insurance against the death Li¤¤i*¤*i¤¤S· or total ermanent disability of any such person in any multiple of _ _ $500, and not less than $1,000 or more than $10,000, upon the pay- P'°“““mS*°b°p‘“"· ment of the piiemiums as hereinafter provided. _ Sec. 401. at such insurance must be applied for within one p§,;§‘,§,fg’f ""“*““8 “P‘ hundred and twenty days after enlistment or after entrance into or poe, pp. iss, aa, employment in the active service and before discharge or resignation, 61* except that those persons who are in the active war service at the time of the publication of the terms and conditions of such contract of insurance may a ply at any time within one hundred and twenty days thereafter andp while in such service. Any person in the active d,,,P°,§',;“0,(§“y,¤,*;°w'}Z,‘{g2 service on or after the sixth day of April nineteen hundred and mjgplymh seventeen, who, while in such service and before the expiration of `”‘°°° 'm°b1°d‘ one hundred and twenty days from and after such (publication, becomes or has become totally and permanently disable or dies or has died, without having ap lied for insurance, shall be deemed to have ap lied for and to have been granted insurance, payable to such An in person  his life in monthly installments of $25 each. If he ,,,,,,sf’w°°°° °°°°h shall die either before he shall have received any of such monthly installments or before he shall have received two hundred and forty of such monthly installments, then $25dper month shall be paid to his wife from the time of his death and her widowhoo, or to his child, or widowed mother if and while they survive him: Pro- {,’;¢°fy.,•g;,,_,um,,°d vided, however, That not more than two hundred and forty of such ` monthly installments, including) those received by such person during his total and permanent disa ility, shall be so paid; and in that event the amount of the monthly installments shall be apportioned between them as may be provided by regulations. Sec. 402. That the director, subject to the general direction of the ;‘{,§§';‘{,’¥§{’£°" Secretary of the Treasiuy, shall promptly determine upon and publish the full and exact terms and con 'tions of such contract of insurance. The insurance shall not be assignable, and shall not be · N°"““‘““b‘°·°‘°·. sub`ect to the claims of creditors of the insured or of the beneficiary. It siiall be payable only to a s ouse, child, grandchild, parent, brother or sister, and also durinlg totalpand permanent disabilitly to the injured person, or to any or al of them. The insurance sha be payable in I ms I me two hundred and forty eqfual monthly installments. Provisions for maveptuaesix I maturity at certain ages, or continuous installments durin the life of the insured or beneficiaries, or both, for cash, loan, aid~up and extended values, dividends from gains and savings, and) such other provisions for the protection and advantage of and for alternative enefits to the insured and the beneficiaries as may be found to be reasonable and practicable, may be provided for in the contract of ° insurance, or from time to time by regulations. All calculations B°’*’°‘*"°"“"“'“• shall be based upon the American Experience Table of Mortality and interest at three and one-half per centum per annum, except that no deduction shall be made for continuous installments during the life of the insured in case his total and permanent disability continues more than two hundred and forty months. Subject to regulations, B°“‘°H°“"°°‘ the msured shall at all times have the right to change the beneficiary