I doubt there are many insurance companies that would insure an infantryman in a war zone, and if they did, I doubt the soldier would be able to afford it regardless of how much they were paid.
(As a side note, the most money I earned while I was in the Army was $300 a month. I was an E4, with Jump Pay, Combat Pay and no income tax. This worked out to about $10 a day or less than 50 cents an hour for a 24/7 work schedule)
Fortunately pay has gone up since 1965.
Forgive my unclarity. I was referring to federal medical services to discharged veterans, not for active duty troops in a war zone.