VA Form 29-8700d Application Letter 4 for Ordinary Life Insurance (Age 65

IN REPLY REFER TO:

FILE NUMBER:

You are now approaching your 65th birthday, and we would like to take this opportunity to
remind you about a very important provision of the Government life insurance policy you
selected. Your policy,
, is known as a Modified Life policy. This means that
the amount of your insurance coverage will automatically reduce by one-half from its present
face value of $
to $
on the day before your birthday. Even though you will
have only half the coverage you had before, your premiums will remain the same as before
your 65th birthday. This reduction feature is explained in all of our pamphlets and
applications describing the Modified Life plans and it is clearly stated on the first page of
your policy that there is an "Initial Face Amount" and an "Ultimate Face Amount" of
insurance. This is also explained in the policy’s first paragraph.
The idea behind a Modified Life policy is that you receive the maximum coverage for the
minimum price up to age 65. Premium costs are kept low because of the face value reduction
by one-half at a later date. The low rates of the Modified Life plans are determined by
actuarial tables and made possible only because of this reduction. This is considered ideal
coverage for the many veterans who find that their insurance needs are less as they grow
older. For many individuals this happens because because of such factors as mortgages being
paid off, children having grown, accumulated savings or entitlement to pensions, and so
forth.
If you find that you still need the same amount of coverage, we do offer additional whole life
insurance coverage. You may purchase this policy at an additional cost to replace the
insurance that will be lost when your policy reduces. You can buy the replacement policy
without answering any health questions. Just complete the application on the reverse side of
this letter and return it before your 65th birthday. Since your premiums are currently being
paid by allotment, we will increase the amount of your allotment to include the additional
premium for the new policy. Therefore, no remittance will be required with your application.
You do not have to buy the full amount of the coverage you lose when your policy reduces.
Replacement insurance may be purchased in multiples of $250, but not less than $500. You
may buy any amount of replacement insurance coverage up to the amount that will be lost.
The monthly premium required to restore full coverage is $
. If you wish to buy less
than full replacement coverage, please call our toll free number below for the correct
premium rate.
Remember - you must apply for the replacement policy before your 65th birthday.
QUESTIONS ABOUT YOUR INSURANCE? CALL US TOLL FREE AT 1-800-669-8477
OUR HOURS OF OPERATION ARE 8:30AM TO 6:00PM EASTERN TIME
THE BEST DAYS TO CALL ARE WEDNESDAY AND THURSDAY

INFORMATION ABOUT MODIFIED LIFE REDUCTION
VA FORM
JUN 2008

29-8700

OMB Approved No. 2900-0166
Respondent Burden: 5 minutes

1A. INSURANCE FILE NUMBER

APPLICATION FOR ORDINARY LIFE INSURANCE
REPLACEMENT INSURANCE FOR MODIFIED LIFE REDUCED
AT AGE 65
NATIONAL SERVICE LIFE INSURANCE

1B. NEW POLICY NO. (Assigned by VA

PRIVACY ACT NOTICE: VA will not disclose information collected on this form to any source other than what has been authorized under the Privacy Act of 1974 or Title 38, Code of
Federal Regulations 1.576 for routine uses identifed in the VA system of records, 36VA00, Veterans and Armed Forces Personnel U.S. Government Life Insurance Records - VA, and
published in the Federal Register. Your obligation to respond is required to obtain this benefit.
RESONDENT BURDEN: We need this information to determine your eligibility for an insurance benefit. Title 38, United States Code, allows us to ask for this information. We estimate
that you will need an average of 5 minutes to review the instructions, find the information, and complete the form. VA cannot conduct or sponsor a collection of information unless a valid
OMB Control Number is displayed. Valid OMB Control Numbers can be located at the OMB Internet Page at www,whitehouse.gov/omb/library/OMBINV.VA.EPA.html#VA. If desired,
you can call 1-800-827-1000 for mailing information on where to send your comments.

IMPORTANT - This application and the first premium must be submitted to the
Department of Veterans Affairs BEFORE your 65th birthday.
2. FIRST NAME, MIDDLE NAME AND LAST NAME OF INSURED

3. DAYTIME TELEPHONE NUMBER

(

)

4. MAILING ADDRESS FOR INSURANCE PURPOSES (Number and street or rural route, city or post office state ZIP Code)
(COMPLETE ONLY IF DIFFERENT THAN THAT SHOWN ON REVERSE)

I wish to apply for the amount of insurance shown in the block to the right
as replacement or the insurance coverage that will end on the day before
my 65th birthday.

5. AMOUNT OF INSURANCE APPLIED FOR

$

I UNDERSTAND that the beneficiary designation and optional settlement under this new policy will be the same as on
my Modified Life policy and will remain the same until I submit a change in writing to VA.
6. SIGNATURE OF INSURED (Do not print, sign in ink)

7. DATE OF APPLICATION

When completed, mail this application and the first premium to the Department of Veterans Affairs at the address
shown on the reverse.