VA I saw a notice about applying for a special one-time Government Life Insurance dividend. Is there any truth to this?
Published 08/10/2012 03:49 PM |
Updated 12/19/2012 03:14 PM
I saw a notice about applying for a special one-time Government Life Insurance dividend. Is there any truth to this?
No, this is a hoax. Such dividend announcements are part of a recurring problem of misinformation that dates back to 1965. Unfortunately, this misinformation unnecessarily raises the expectations of veterans and service personnel and detracts from our ability to serve our veterans. The dividend "hoax", as we refer to it, had its origins in a special dividend that the Department of Veterans Affairs (VA), then known as the Veterans Administration, did pay to World War II veterans who had National Service Life Insurance policies. Approximately $2.7 billion was paid in 1950 to over 16 million of these veterans under the "1948 special dividend." Some time in 1965, the special dividend news announcements of 15 years earlier resurfaced and were mistakenly published by several newspapers. The special dividend had already been paid out to all eligible government life insurance policyholders and there was no new special dividend.