52 URUGUAY - INSURANCE AND THRIFT 



If the insured person die before five years have passed from the time 

 at which the contract comes to have force, the bank will deduct, from the 

 amount to be paid, the portion of the premium which still has to be paid 

 before the total sum of the single premium is reached. 



b) Only long-term mortgages, constituted in conformity with the 

 by-laws of the Mortgage Bank of Uruguay or other similar organizations, 

 can be the objects of this insurance. 



c) If it be discovered at any time that the true age of the insured per- 

 son is less than liis age as declared in the application wliich was the basis 

 of his policy, and if his true age be more than fift}^ or the difference between 

 his declared and his true age be more than five years, the insurance will be 

 null and void and the bank will not be obliged to repay the paid premium. 

 The insured person or his heirs nuist prove his age as often as the bank 

 desire. 



d) The polic}^ makes no restrictions as to travelHng and place of re- 

 sidence ; but the insured person must not blow up rocks, engage in mining 

 or diving or the manufacture of inflammable or explosive substances, or 

 make aerial ascents without first notifj^ing the bank and obtaining its 

 consent, and causing the bank to establish that the premium i^hall still 

 be recoverable and the policy remain in force. In default of such declara- 

 tion, and in the case of an accident due to the causes here cited, the insu- 

 rance will be null and void, and the insured person or his heirs will be able 

 to claim no part of the amount of premium paid. 



e) ]\Iilitary service withJn the country or for its defence entails no 

 increase of the premium ; but military service for a foreign nation annuls 

 the insurance so that the insured person or his heirs can claim no part of 

 the premium paid. 



/) In the case of suicide the insurance is annulled and the Vjank 

 repays the premium or the annual payments it has received. 



?) When the proofs of the death of the insured person have been 

 presented and the bank has accepted them, the bank will, according to 

 circumstances, pay or credit the sum due. 



h) The policy will be annulled if the contracting person omit to pay, 

 when it falls due, any one of the annual instalments forming an integral part 

 of the single premiimi on which the contract is based. 



We give below the tariff fixed by the bank for the insurance of mortgage 

 debts : 



