Page:United States Statutes at Large Volume 42 Part 1.djvu/185

 SIXTY—SEVENTH CONGRESS. Sess. I. C1-1. 57. 1921. 157 compensation on account thereof in a sum equal to or in excess of the amount due from him in premiums on his said insurance, and has since died from said wounds or disease without collecting or making claim for said com ensation, or being allowed to reinstate his said policy on account oi)his ph sical condition, then and in that event said po icy shall not be considered as lapsed, and the Veterans’ Bureau is hereby authorized and directed to pay to the beneficiaries of said soldier under said policy the amount of said insurance less the premiums and interest thereon at 5 per centum per annum compounded annually in installments as provided by law." Pa But 0, m_ Sec. 28. A new section is hereby added to Article IV of the War miurnizlll P Risk Insurance Act to be known as section 409, and to read as follows: "Sec. 409. The Veterans’ Bureau is authorized to make provision mg?t§§ £$§i€§.{m°"tS in accordance with `regulations, whereb the payment of premiums PMP-1526~ on yearly renewable term insurance and United States Government life insurance (converted insurance) on the due date thereof may be waived and the insurance may be deemed not to lapse in the cases While confined in of the following persons, to wit: (a) Those who are confined in a 1mspm1,em. hospital under said bureau for a compensable disability during the _ period while they are so confined; (b) those who are rated as tem- hg, §,9§’§E{°§.¥°y °°' porarily totally disabled by reason of an injury or disease entitlin them to compensation during the eriod of suc total disability and ,,m,m_ while they are so rated: Pro*vided,Hl`hat such relief from payment of Extent or time alpremiums on renewable term insurance on the due date thereof l°w°°' shall be for full calendar months, beginning with the month in which said confinement to hostpifal, or tempora1& total disability rating begins, and ending with t month duriailg e half or major fraction ofwhichthelpersoniseonfinedinhospit, orisratedastempormily hmm 0 waived totally disab ed: Provided further, That all premiums, the payment premiums. D of which when due is waived as above provided, shall bear interest a at the rate of 5 per centum per annum compounded annually from the due date of each premium, and ifinotpgaid by the insured shall ` be deducted from the insurance when e same matures either t,,?;°t$$‘°"°“ °° ””" because of permanent total disability or death.” Sec. 29. A new section is hereby added to Article IV of the War P°°°°l°°"i°°‘ Risk Insurance Act to be known as section 410, and to read as follows: Postmaster mmm "Sec. 410. Under such rules and regulations as the Director of my receiveinsuranca the Veterans’ Bureau and the Postmaster General may prescribe, ""“'*"“"‘ the Postmaster General is hereby authorized to receive the premiums on yearly renewable term insurance and United States Government life insurance (converted insurance) and to act for and turn over to the Treasurer of the United States the money so received, and if the B I mi money-order siystem is used as an agency for the transmission of such  m°°°’ °° money, the ostmaster General may adopt a specially-designed by lm money-order form for such gfurpose, and he also is authorized to ¤.mS?”°°° °pp receive and transmit to the eterans’ Bureau applications for reinstatement of lapsed insurance and applications for conversion of yearly renewable term insurance." _ _ _ Sec. 30. A new section is hereby added to Article IV of the War f,g;;"‘;§·,52,_ Risk Insurance Act to be known as section 411, and to read as follows; I ’ bl mr "Sec. 411. Subject to the provisions of section 29 of the War ,;,'}§’,'f,€§°§§? ° Risk Insurance Act and amendments thereto policies of insurance V°*·*°·P·°°°· heretofore or hereafter issued in accordance with Article IV of the War Risk Insurance Act shall be incontestable after six months io from date of issuance, or reinstatement, except for fraud or nonpay- Em°p° m' ment of premiums/’ Approved, August 9, 1921.