United States v. McClure

We are called upon to determine whether § 301 or § 305 of the World War Veterans’ Act 1 applies to a lapsed policy of War Risk yearly renewable term insurance.

Section 301 authorizes conversion of such policies and provides (with exceptions not applicable here) that “All yearly renewable term insurance shall cease on July 2, 1927, except when death or total permanent disability shall have occurred before July 2, 1927: . . .”

Section 305 provides that “Where any person has heretofore allowed his insurance to lapse, . . . while suffering from a compensable disability for which compensation was…