| Veterans
News Flash 
VA Distributes 2008 Insurance Dividends
Peake: Payments Are “Commitment
from a Grateful Nation”
January 3, 2008
WASHINGTON – More
than a million veterans are in line to share
$349 million in annual insurance dividends during
2008, according to the Department of Veterans
Affairs (VA).
“These dividends are a commitment from a
grateful nation to safeguard the interests of America’s
veterans,” said Secretary of Veterans Affairs
Dr. James B. Peake.
VA operates one of the
nation’s largest
life insurance programs, providing more than $1
trillion in coverage to 7.1 million service members,
veterans, and family members.
The dividend payments will be sent to an estimated
1.1 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 trust
funds 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
2008 insurance dividend payments. They are expected
to receive total payments of $269.6 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 $9.2
million.
Korean War era veterans
who have maintained Veterans Special Life Insurance
("RS" and "W")
policies can expect to receive dividends totaling
$69.3 million.
Dividends totaling $875,000
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 email to VAinsurance@va.gov.
They may also visit VA on the Internet at www.insurance.va.gov.
SOURCE:
US Department of Veterans Affair
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