Insurance plan based on gold value
Montpelier — It's almost like being worth your weight in gold. The nation's first group life insurance plan indexed to the price of gold is being offered by Gold Services Inc., Montpelier, Vt.
The policy will be a standard life insurance contract written and payable in dollars, but the face amount payable to the beneficiary will vary with the price of gold. The coverage is called ''The Gold Life Plan'' and is designed to protect policyholders against future inflation.
''We expect widespread acceptance, since our surveys indicate up to 70 percent approval of a gold life insurance plan among the gold-purchasing and nongold-purchasing public,'' says Clark A. Aylsworth, Gold Services president.