INSURANCE: Coverage for the Aged

While Congress, in an election year, has been gingerly discussing the costs and credits of federal medical insurance for the nation's aged, an insurance company has been quietly testing whether a private firm could make money in the same field. After month-long trial studies, Chicago's Continental Casualty Co. (1959 assets: $469,465,000) last week announced a hospital insurance devised for oldsters 65 and above that offers up to $5,000 coverage without a physical examination or health questions.

Continental, which is seeking the approval of insurance commissions in every state, and Puerto Rico besides, already has received 35 O.K.s. For a $7...

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