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A Million Vets To Get


Berta

Question

(emailed from VA -Press Release)Dec 8,2006

VA Secretary Nicholson: Some Vets to Receive Insurance Dividends

Payments "Tangible Evidence" of Nation's Commitment

WASHINGTON (Dec. 8, 2006) - More than a million veterans are in line to

share $369 million in annual insurance dividends during 2007, according

to the Department of Veterans Affairs (VA).

"These dividends are tangible evidence of VA's continuing commitment to

safeguard the interests of America's veterans," said Secretary of

Veterans Affairs Jim Nicholson.

VA operates one of the nation's largest life insurance programs,

providing more than $1 trillion in coverage to 4.5 million service

members, spouses and children.

The dividend payments will be sent to an estimated 1.2 million holders

of VA insurance policies on the anniversary date of their policies.

Sent automatically through different payment plans, the amounts will

vary based on the age of the veteran, the type of insurance, and the

length of time the policy has been in force.

The dividends come from the earnings of a trust fund into which veterans

have paid insurance premiums over the years, and are linked to returns

on investments in U.S. government securities.

VA officials caution veterans about a long-running scam in which various

groups charge fees to "locate" veterans who are eligible for the

dividends. Veterans eligible for the dividends have had VA life

insurance policies in effect since they left the military and have

received annual notifications from VA about the policies.

Dividends are paid each year to veterans holding certain government life

insurance policies and who served between 1917 and 1956.

World War II veterans holding National Service Life Insurance ("V")

policies comprise the largest group receiving 2007 insurance dividend

payments. They are expected to receive total payments of $286.3

million.

An additional group of World War II era veterans, those who have

Veterans Reopened Insurance ("J", "JR" and "JS") policies, will in total

receive dividends of $10.1 million.

Korean War era veterans who have maintained Veterans Special Life

Insurance ("RS" and "W") policies can expect to receive dividends

totaling $71.6 million.

Dividends totaling $1million will be paid to veterans who served between

World War I and 1940 and who hold U.S. Government Life Insurance ("K")

policies.

Veterans who have questions about their policies may contact the VA

insurance toll-free number at 1-800-669-8477 or send an e-mail to

VAinsurance@va.gov. They may also visit the Internet at

www.insurance.va.gov.

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