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Veterans News
Veterans holding permanent GI life insurance policies may borrow up to 94 percent of their policies’ cash surrender value to meet financial emergencies.
This action, while reducing the amount of protection, still, leaves the policy in force. On the other hand, if the policy is surrendered for cash all protection under the insurance ceases and cannot be renewed nor reinstated. Annual interest on GI policy loans is charged at four percent on the unpaid balance. If not paid, it is added to the loan principal and begins to draw interest. Repayment of the principal, on the loan may be made in amounts of $5 or any multiple thereof and at .any time before default in payment of premiums.
GI Loan Reminder Final date for World War II veterans to apply forGl Loans is July 25, 1957! Kach day is an individual deadline for many veterans since terminaifF
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