LIFE INSURANCE UNDER SPECIAL PROJECT

• Document Type: CREST
• Collection: General CIA Records
• Document Number (FOIA) /ESDN (CREST): CIA-RDP86-00964R000100110004-1
• Release Decision: RIPPUB
• Original Classification: S
• Document Page Count: 3
• Document Creation Date: December 14, 2016
• Document Release Date: July 23, 2003
• Sequence Number: 4
• Publication Date: November 15, 1956
• Content Type: MFR

Approved For Release 2003/08/13 : CIA-RDP86-00964R000100110004.1
SUBJECT: Life Insurance Under Special Project
1. On this date, a meeting was held in General Cabell's
office which was attended by the following people: Messrs.
Charles Hulick,
Lawrence Houston, Richard Helms, Sheffield Edwards,
I
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2. After some discussion, General Cabell stated that he
was of the opinion that legally and technically we had the right
to put these project people under the Mutual of Omaha life
insurance plan. Mr. Dexplained why this contract is as
flexible as it is making the point that we could not put into an
overt document available to anyone who wanted to look at it,
i. e. , the State or District insurance examiners, specifics of
our understanding as it would be too revealing. This is to be
taken into account together with the letter from Omaha to us
specifying that they, Omaha, were completely dependent on the
integrity of our representatives and administration under the
GEHA program and in accordance with the life underwriting
codes.
3. General Cabell went on further to say that there were,
however, other considerations to be taken into account; namely,
whether or not we should load this program with this type of
risk and endanger our future relationship with the Underwriter,
Mutual of Omaha; also, whether or not continuance of these
risks in this program was necessarily good for the overall
insurance program.
Approved For Release 2003/08/13 : CIA-RDP86-00964R000100110004-1
SECRET
and the Undersigned.
 Approved For Release 2003/08/1cf-DP86-00964800100110004-1
4. General Cabell, at one point, stated that he
believed that the risks in question were undoubtedly extra
hazardous.
5. After considerable discussion, General Cabell
directed Mr. Houston to attempt to devise some way so that
GEHA would not in the future be hurt by these special type
cases. General Cabell did not state whether or not this would
apply to the two pending cases but he did state that it should
apply to all cases after the first three in this project and to
any other cases or future projects where a like or similar
extra hazard is involved. He further stated that in projects,
the individuals should pay their own premiums and not have them paid
by the Agency. At both the suggestion of General Cabell and
Mr. Houston, I was directed not to file the two claims with Mutual
of Omaha until we had further conversations. The specific needs
of the beneficiaries were mentioned at this time.
6. I am under the impression that as the result of the
instructions given to Mr. Houston, he will, in the near future,
get in touch with myself and Mr. as to a means and
method of resolving this problem.
7. General Cabell also asked Mr. Houston for a report
on his progress in this respect as soon as possible.
8. General Cabell reminded all present that this discussion
was only for the people in attendance at the meeting and further
suggested that he desired that our Underwriters (Omaha) not be
"stirred-up" in any regard by this question of extra-hazardous
duty.
President, GEHA, Inc.
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Approved For Release 2003/08/13 : CIA-RDP86-00964R000100110004-1
 Approved
Approved
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UNCLASSIFIED NFIDENTIAL SECRET
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