December 1938

Paid-Up Insurance

Volume 22, Issue 4
Author: 

THE Navy Mutual Aid Association took an important step on November 1st, when an ALNAV was despatched to the Service announcing a change to the level premium basis, effective January 1, 1939. The proposed change, which was circulated to the membership on August 13th, received a majority vote of nearly 84 per cent.

The change provides for the enrollment of new members on and after January 1st on a level premium basis for a paid-up benefit of $7,500.00 at ages 60, 65, 70 or 75, as selected by the applicant. The entrance age limit was changed from 35 to 45.

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