The 10,000 dollars GI insurance

Discussion in 'General' started by tmac, Dec 17, 2010.

  1. tmac

    tmac Senior Member

    In the mini-series The Pacific and in Band of Brothers, they mention the GI insurance scheme, which I think paid out 10,000 dollars if a serviceman was killed in action. But GIs apparently had to specifically sign up for this scheme - it seems not to have been automatic.
    It mentions in The Pacific how Medal of Honor winner John Basilone did not sign the papers for the insurance, meaning his widow did not receive any money after his death on Iwo Jima. In Band of Brothers, the paratroopers about to go into action on D-Day are told by their officer to sign up before they board their planes.
    Does anyone have any further details of this scheme? Did GIs have to pay to be in it and how generous a sum was 10,000 dollars? Was there anything similar available to British servicemen?
     
  2. Paul Pariso

    Paul Pariso Very Senior Member

    According to the website "Measuringworth", $10,000 in 1944 would be worth $122,000 today! :)
     
  3. sparky34

    sparky34 Senior Member

    interesting subject ..were servicemens parents who were single and were killed in the second world war ..plus KOREA - MALAYA and other theatres given any compensation
    for their loss ..??
     
  4. CROONAERT

    CROONAERT Ipsissimus

    According to the website "Measuringworth", $10,000 in 1944 would be worth $122,000 today! :)

    The same figure in 1917 would be worth 167,000! (I mention this because the scheme was also available for the Doughboys of 1917-18... They could sign up for a payment of $2,000, $5,000 or $10,000 (so, yes, the soldier had to pay to be in it - differing payment schemes meant different pay-outs. It also paid out for severe wounds, not just deaths)

    dave
     
  5. David Layne

    David Layne Well-Known Member

    As I recall when I was a GI from 1967 to 1974 the G.I. Insurance was $10,000.00.

    Jump Pay for an enlisted man was $55.00 per month.

    I have no idea what current payments are and would be interested to know.
     
  6. Drew5233

    Drew5233 #FuturePilot Patron 1940 Obsessive

    This is quite interesting.

    When I volunteered to deploy to the Balkans 2001 I was advised to get my own 'special' life assurance policy. My 'civilian' one for the mortage and my then wife etc would not cover me if anything happened in what was classed as a 'war zone' which I did after a couple of days of ringing around trying to find someone that did it.

    When I volunteered to go to Kuwait/Iraq in 2003 could I find a company to insure me-Could I heck !

    Just for the records we were advised to do this by the MoD as the payouts then (I don't know how much) was next to nothing and certainly wouldn't have made a significant difference to my wife.

    Anyone experience similiar for the 60's 70's 80's or Falklands and Gulf 1?

    Regards
    Andy
     
  7. phylo_roadking

    phylo_roadking Very Senior Member

    It mentions in The Pacific how Medal of Honor winner John Basilone did not sign the papers for the insurance, meaning his widow did not receive any money after his death on Iwo Jima. In Band of Brothers, the paratroopers about to go into action on D-Day are told by their officer to sign up before they board their planes.



    Personally, I always interpreted this as to refer to the signature authorising the section pertaining to the chosen "next-of-kin" payee. I've seen references to this elsewhere; in The Big Red One, IIRC for one, and near the start of The Halls of Montezuma...but I could be corrected on the latter, it's been a while.

    If the next-of-kin nomination wasn't signed, there'd be noone to pay it to, hence....
     
  8. A-58

    A-58 Not so senior Member

    When I was in the Army (1977-80) the GI Life Insurance was $50,000.00. Upon initial entry, all insurance papers and other documents were filled out for each service member. To insure accuracy a battery of Army Jags (Judge Advocate General or lawyers) oversaw the proceedings. Then it was off to get assorted vaccinations in the next room. Later, every six months or so or when a unit was alerted for deployment (or stand-by) all files were updated, and the first document to be checked was always the GI Insurance. So that way there would be no chance of a dependent not getting benefits upon the demise of their soldier boy. Maybe it was a series of incidents and accidents learned the hard way from WW2 (the John Basilone issue possibly) that insured attention to detail when it came to paperwork.

    Oh, and jump pay was $50.00 for E-1's and E-2's, and $55.00 for E-3's to E-9's during my time in service. Officers got $110.00. Now it is $125.00 across the board I believe.

    I have also read that many servicemen were declared KIA in the 1941-42 Philippine Campaign only to turn up barely alive in POW camps in 1945. The government paid the $10,000.00 GI insurance to the next of kin in 1942-43, but did not make an attempt to recover the pay when the loved ones status was determined. To do so would be a "marketing disaster" of biblical proportions. It was only a handful of men involved, so it's not like it would bankrupt the war chest. Maybe to off-set losses, the government only paid all of the GIs $1.00 per month of incarceration upon release. Talk about insult to injury.
     
  9. Za Rodinu

    Za Rodinu Hot air manufacturer

    Airman Smithy was assigned to the army induction center, where he advised new army recruits about their government benefits, especially their GI life insurance policies.

    It wasn’t long before Captain Brown noticed that Airman Smithy was having a staggeringly high success-rate, selling army life insurance to nearly 100% of the army recruits he advised.

    Rather than ask about this, the Captain stood in the back of the room and listened to Smithy’ life insurance sales pitch.

    Smithy explained the basics of the GI life insurance policy to the new army recruits, and then said: “If you have the GI life insurance policy and go into battle and are killed, the government has to pay $200,000 to your beneficiaries. If you don’t have GI life insurance, and you go into battle and get killed, the government only has to pay a maximum of $6,000.

    "Now,” he concluded, “which group of soldiers do you think they are going to send into battle first?”
     
  10. Smudger Jnr

    Smudger Jnr Our Man in Berlin

    Airman Smithy was assigned to the army induction center, where he advised new army recruits about their government benefits, especially their GI life insurance policies.

    It wasn’t long before Captain Brown noticed that Airman Smithy was having a staggeringly high success-rate, selling army life insurance to nearly 100% of the army recruits he advised.

    Rather than ask about this, the Captain stood in the back of the room and listened to Smithy’ life insurance sales pitch.

    Smithy explained the basics of the GI life insurance policy to the new army recruits, and then said: “If you have the GI life insurance policy and go into battle and are killed, the government has to pay $200,000 to your beneficiaries. If you don’t have GI life insurance, and you go into battle and get killed, the government only has to pay a maximum of $6,000.

    "Now,” he concluded, “which group of soldiers do you think they are going to send into battle first?”


    Miguel,

    That is a great sales pitch, guaranteed to work :D

    Regards
    Tom
     
  11. Jedburgh22

    Jedburgh22 Very Senior Member

    In the mid 70s there was an Army insurance scheme which cost around £2 a month if I remember rightly, different levels of payout were available depending on which level of cover was selected.
     
  12. Za Rodinu

    Za Rodinu Hot air manufacturer

    Miguel,

    That is a great sales pitch, guaranteed to work :D

    Regards
    Tom

    As the guy said in Catch 22, "The best there is."

    [​IMG]
     
  13. CROONAERT

    CROONAERT Ipsissimus

    (so, yes, the soldier had to pay to be in it - differing payment schemes meant different pay-outs. It also paid out for severe wounds, not just deaths)



    According to a doughboy's paybook I have, in 1917, it was $5 per month for the $10,000 pay-out.

    Dave
     
  14. CROONAERT

    CROONAERT Ipsissimus

    ...called 'War Risk Insurance' in 1917, participation in the scheme was noted in the paybook...
     

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