dreamproit/uscode huggingface dataset:
38 U.S.C. § 1928 (VETERANS’ BENEFITS)
§ 1928. Authority for payment of interest on settlements
(a) Subject to subsection (b) of this section, the Secretary may pay interest on the proceeds of a participating National Service Life Insurance, Veterans’ Special Life Insurance, and Veterans Reopened Insurance policy from the date the policy matures to the date of payment of the proceeds to the beneficiary or, in the case of an endowment policy, to the policyholder.
(b)
(1) The Secretary may pay interest under subsection (a) of this section only if the Secretary determines that the payment of such interest is administratively and actuarially sound for the settlement option involved.
(2) Interest paid under subsection (a) of this section shall be at the rate that is established by the Secretary for dividends held on credit or deposit in policyholders’ accounts under the insurance program involved.
(Added Pub. L. 100–687, div. B, title XIV, § 1401(a)(1), Nov. 18, 1988, 102 Stat. 4128, § 728; renumbered § 1928 and amended Pub. L. 102–83, §§ 4(b)(1), (2)(E), 5(a), Aug. 6, 1991, 105 Stat. 404–406.)
heading: Amendments
text: 1991—Pub. L. 102–83 renumbered section 728 of this title as this section and substituted “Secretary” for “Administrator” wherever appearing.
heading: Effective Date
text: Pub. L. 100–687, div. B, title XIV, § 1401(a)(3), Nov. 18, 1988, 102 Stat. 4129, provided that: “The amendments made by this subsection [enacting this section and section 763 [now 1963] of this title] shall take effect with respect to insurance policies maturing after the date of the enactment of this Act [Nov. 18, 1988].”
38 U.S.C. § 1929 (VETERANS’ BENEFITS)
§ 1929. Authority to adjust premium discount rates
(a) Notwithstanding sections 1902, 1923, and 1925 of this title and subject to subsection (b) of this section, the Secretary may from time to time adjust the discount rates for premiums paid in advance on National Service Life Insurance, Veterans’ Special Life Insurance, and Veterans Reopened Insurance.
(b)
(1) In adjusting a discount rate pursuant to subsection (a) of this section, the Secretary may not set such rate at a rate lower than the rate authorized for the program of insurance involved under section 1902, 1923, or 1925 of this title.
(2) The Secretary may make an adjustment under subsection (a) of this section only if the Secretary determines that the adjustment is administratively and actuarially sound for the program of insurance involved.
(Added Pub. L. 100–687, div. B, title XIV, § 1401(b)(1), Nov. 18, 1988, 102 Stat. 4129, § 729; renumbered § 1929 and amended Pub. L. 102–83, §§ 4(b)(1), (2)(E), 5(a), (c)(1), Aug. 6, 1991, 105 Stat. 404–406.)
heading: Amendments
text: 1991—Pub. L. 102–83, § 5(a), renumbered section 729 of this title as this section.
Pub. L. 102–83, § 5(c)(1), substituted “1902, 1923, and 1925” for “702, 723, and 725” in subsec. (a) and “1902, 1923, or 1925” for “702, 723, or 725” in subsec. (b)(1).
Pub. L. 102–83, § 4(b)(1), (2)(E), substituted “Secretary” for “Administrator” wherever appearing.
heading: Effective Date
text: Pub. L. 100–687, div. B, title XIV, § 1401(b)(2), Nov. 18, 1988, 102 Stat. 4129, provided that: “The amendment made by paragraph (1) [enacting this section] shall take effect with respect to premiums paid after the date of the enactment of this Act [Nov. 18, 1988].”
38 U.S.C. § 1940 (VETERANS’ BENEFITS)
§ 1940. Definition
For the purposes of this subchapter, the term “insurance” means United States Government life insurance.
(Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1158, § 740; renumbered § 1940, Pub. L. 102–83, § 5(a), Aug. 6, 1991, 105 Stat. 406.)
heading: Amendments
text: 1991—Pub. L. 102–83 renumbered section 740 of this title as this section.
38 U.S.C. § 1941 (VETERANS’ BENEFITS)
§ 1941. Amount of insurance
United States Government life insurance shall be issued against death or total permanent disability in any multiple of $500 and not less than $1,000 or more than $10,000. No person may carry a combined amount of National Service Life Insurance and United States Government life insurance in excess of $10,000 at any one time. The limitations of this section shall not apply to the additional paid up insurance the purchase of which is authorized under section 1907 of this title.
(Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1158, § 741; Pub. L. 92–188, § 1, Dec. 15, 1971, 85 Stat. 645; renumbered § 1941 and amended Pub. L. 102–83, § 5(a), (c)(1), Aug. 6, 1991, 105 Stat. 406.)
heading: Amendments
text: 1991—Pub. L. 102–83 renumbered section 741 of this title as this section and substituted “1907” for “707”.
1971—Pub. L. 92–188 made section limitations inapplicable to the additional paid up insurance purchase of which is authorized under section 707 of this title.
heading: Effective Date of 1971 Amendment
text: Amendment by Pub. L. 92–188 effective on date established by Administrator but in no event later than first day of first calendar month beginning more than six calendar months after Dec. 15, 1971, see section 4 of Pub. L. 92–188, set out as a note under section 1907 of this title.
38 U.S.C. § 1943 (VETERANS’ BENEFITS)
§ 1943. Premiums
The premium rates for insurance shall be the net rates based upon the American Experience Table of Mortality and interest at 3½ percent per annum. Regulations shall prescribe the time and method of payment of premiums, but payments of premiums in advance shall not be required for periods of more than one month each, and may be deducted from the pay or deposit of the insured or be otherwise made at the insured’s election.
(Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1158, § 743; Pub. L. 97–295, § 4(26), Oct. 12, 1982, 96 Stat. 1307; Pub. L. 99–576, title VII, § 701(30), Oct. 28, 1986, 100 Stat. 3293; renumbered § 1943, Pub. L. 102–83, § 5(a), Aug. 6, 1991, 105 Stat. 406.)
heading: Amendments
text: 1991—Pub. L. 102–83 renumbered section 743 of this title as this section.
1986—Pub. L. 99–576 substituted “the insured’s” for “his”.
1982—Pub. L. 97–295 substituted “percent” for “per centum”.
38 U.S.C. § 1944 (VETERANS’ BENEFITS)
§ 1944. Policy provisions
(a) Provisions for maturity at certain ages, for continuous installments during the lifetime of the insured or beneficiaries, or both, for refund of premiums, cash, loan, paid-up and extended values, dividends from gains and savings, and such other provisions for the protection and advantage of and for alternative benefits to the insured and the beneficiaries as may be found to be reasonable and practicable may be provided for in insurance contracts or from time to time by regulations.
(b) All calculations on insurance shall be based upon the American Experience Table of Mortality and interest at 3½ percent per annum, except that no deduction shall be made for continuous installments during the life of the insured in case the insured’s total and permanent disability continues more than two hundred and forty months.
(c) On and after July 19, 1939, the rate of interest charged on any loan secured by a lien on insurance shall not exceed 5 percent per annum.
(Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1158, § 744; Pub. L. 97–295, § 4(26), Oct. 12, 1982, 96 Stat. 1307; Pub. L. 99–576, title VII, § 701(30), Oct. 28, 1986, 100 Stat. 3293; renumbered § 1944, Pub. L. 102–83, § 5(a), Aug. 6, 1991, 105 Stat. 406.)
heading: Amendments
text: 1991—Pub. L. 102–83 renumbered section 744 of this title as this section.
1986—Subsec. (b). Pub. L. 99–576 substituted “the insured’s” for “his”.
1982—Subsecs. (b), (c). Pub. L. 97–295 substituted “percent” for “per centum”.
38 U.S.C. § 1945 (VETERANS’ BENEFITS)
§ 1945. Renewal
At the expiration of any term period any insurance policy issued on the five-year level premium term plan which has not been exchanged or converted to a permanent plan of insurance and which is not lapsed shall be renewed as level premium term insurance without application for a successive five-year period at the premium rate for the attained age without medical examination. However, renewal shall be effected in cases where the policy is lapsed only if the insured makes application for reinstatement and renewal of the insured’s term policy within five years after the date of lapse, and reinstatement in such cases shall be under the terms and conditions prescribed by the Secretary.
(Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1159, § 745; Pub. L. 91–291, § 11, June 25, 1970, 84 Stat. 331; Pub. L. 99–576, title VII, § 701(30), Oct. 28, 1986, 100 Stat. 3293; renumbered § 1945 and amended Pub. L. 102–83, §§ 4(b)(1), (2)(E), 5(a), Aug. 6, 1991, 105 Stat. 404–406.)
heading: Amendments
text: 1991—Pub. L. 102–83 renumbered section 745 of this title as this section and substituted “Secretary” for “Administrator”.
1986—Pub. L. 99–576 substituted “the insured’s” for “his”.
1970—Pub. L. 91–291 struck out effective date provision for renewal of policies, provisions that, in case of lapsed policies, such lapse have occurred within two months before the expiration of the term period, special provisions for the interim period between July 23, 1953 and December 31, 1953, and provisions that the section take effect on Sept. 2, 1958, and required that the insurer make application for reinstatement and renewal of his term policy within five years after the date of the lapse.
heading: Effective Date of 1970 Amendment
text: Amendment by Pub. L. 91–291 effective June 25, 1970, see section 14(a) of Pub. L. 91–291, set out as a note under section 1317 of this title.
38 U.S.C. § 1946 (VETERANS’ BENEFITS)
§ 1946. Dividends to pay premiums
Until and unless the Secretary has received from the insured a request in writing for payment of dividends in cash or that the dividends be placed on deposit in accordance with the provisions of the insured’s policy, any regular annual dividends shall be applied in payment of premiums becoming due on insurance after the date the dividend is payable on or after December 31, 1958.
(Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1159, § 746; Pub. L. 99–576, title VII, § 701(30), Oct. 28, 1986, 100 Stat. 3293; renumbered § 1946 and amended Pub. L. 102–83, §§ 4(a)(2)(A)(iii)(V), 5(a), Aug. 6, 1991, 105 Stat. 403, 406.)
heading: Amendments
text: 1991—Pub. L. 102–83 renumbered section 746 of this title as this section and substituted “Secretary” for “Veterans’ Administration”.
1986—Pub. L. 99–576 substituted “the insured’s” for “his”.
38 U.S.C. § 1947 (VETERANS’ BENEFITS)
§ 1947. Incontestability
Subject to the provisions of section 1954 of this title all contracts or policies of insurance heretofore or hereafter issued, reinstated, or converted shall be incontestable from the date of issuance, reinstatement, or conversion, except for fraud, nonpayment of premiums, or on the ground that the applicant was not a member of the military or naval forces of the United States. The insured under such contract or policy may, without prejudicing the insured’s rights, elect to make claim to the Department or to bring suit under section 1984 of this title on any prior contract or policy, and if found entitled thereto, shall, upon surrender of any subsequent contract or policy, be entitled to payments under the prior contract or policy. In any case in which a contract or policy of insurance is canceled or voided after March 16, 1954, because of fraud, the Secretary shall refund to the insured, if living, or, if deceased, to the person designated as beneficiary (or if none survives, to the estate of the insured) all money, without interest, paid as premiums on such contract or policy for any period subsequent to two years after the date such fraud induced the Secretary to issue, reinstate, or convert such insurance less any dividends, loan, or other payment made to the insured under such contract or policy.
(Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1159, § 747; Pub. L. 99–576, title VII, § 701(30), Oct. 28, 1986, 100 Stat. 3293; renumbered § 1947 and amended Pub. L. 102–83, §§ 4(a)(2)(A)(iii)(VI), (3), (4), (b)(1), (2)(E), 5(a), (c)(1), Aug. 6, 1991, 105 Stat. 403–406.)
heading: Amendments
text: 1991—Pub. L. 102–83, § 5(a), renumbered section 747 of this title as this section.
Pub. L. 102–83, § 5(c)(1), substituted “1954” for “754” and “1984” for “784”.
Pub. L. 102–83, § 4(b)(1), (2)(E), substituted “Secretary” for “Administrator” before “shall” in last sentence.
Pub. L. 102–83, § 4(a)(3), (4), substituted “Department” for “Veterans’ Administration”.
Pub. L. 102–83, § 4(a)(2)(A)(iii)(VI), substituted “Secretary” for “Veterans’ Administration” before “to issue” in last sentence.
1986—Pub. L. 99–576 substituted “the insured’s” for “his”.
38 U.S.C. § 1949 (VETERANS’ BENEFITS)
§ 1949. Change of beneficiary
Subject to regulations, the insured shall at all times have the right to change the beneficiary or beneficiaries of a United States Government life insurance policy without the consent of such beneficiary or beneficiaries.
(Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1160, § 749; renumbered § 1949, Pub. L. 102–83, § 5(a), Aug. 6, 1991, 105 Stat. 406.)
heading: Amendments
text: 1991—Pub. L. 102–83 renumbered section 749 of this title as this section.
38 U.S.C. § 1950 (VETERANS’ BENEFITS)
§ 1950. Payment to estates
If no beneficiary of insurance is designated by the insured, either while alive or by last will, or if the designated beneficiary does not survive the insured, then there shall be paid to the estate of the insured the present value of the remaining unpaid monthly installments. If the designated beneficiary survives the insured and dies before receiving all of the installments of insurance payable and applicable, then there shall be paid to the estate of such beneficiary the present value of the remaining unpaid monthly installments. No payments shall be made to any estate which under the laws of the residence of the insured or the beneficiary, as the case may be, would escheat, but same shall escheat to the United States and be credited to the United States Government Life Insurance Fund.
(Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1160, § 750; Pub. L. 99–576, title VII, § 701(31), Oct. 28, 1986, 100 Stat. 3293; renumbered § 1950, Pub. L. 102–83, § 5(a), Aug. 6, 1991, 105 Stat. 406.)
heading: Amendments
text: 1991—Pub. L. 102–83 renumbered section 750 of this title as this section.
1986—Pub. L. 99–576 substituted “while alive or by last will” for “in his lifetime or by his last will and testament”.
38 U.S.C. § 1951 (VETERANS’ BENEFITS)
§ 1951. Payment of insurance
United States Government life insurance, except as provided in this subchapter, shall be payable in two hundred and forty equal monthly installments. When the amount of an individual monthly payment is less than $5, such amount may in the discretion of the Secretary be allowed to accumulate without interest and be disbursed annually.
(Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1161, § 751; renumbered § 1951 and amended Pub. L. 102–83, §§ 4(b)(1), (2)(E), 5(a), Aug. 6, 1991, 105 Stat. 404–406.)
heading: Amendments
text: 1991—Pub. L. 102–83 renumbered section 751 of this title as this section and substituted “Secretary” for “Administrator”.
38 U.S.C. § 1953 (VETERANS’ BENEFITS)
§ 1953. Assignments
Any person to whom United States Government life insurance shall be payable may assign such person’s interest in such insurance to the spouse, child, grandchild, parent, brother, sister, uncle, aunt, nephew, niece, brother-in-law, or sister-in-law of the insured. Insofar as applicable, the definitions contained in section 3 of the World War Veterans’ Act, 1924, in effect on December 31, 1958, shall apply to this section.
(Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1161, § 753; Pub. L. 96–128, title III, § 304, Nov. 28, 1979, 93 Stat. 986; renumbered § 1953, Pub. L. 102–83, § 5(a), Aug. 6, 1991, 105 Stat. 406.)
heading: References in Text
text: Section 3 of the World War Veterans’ Act, 1924, referred to in text, is section 3 of act June 7, 1924, ch. 320, 43 Stat. 607, which was classified to section 424 of former Title 38, Pensions, Bonuses, and Veterans’ Relief, and which was repealed and the provisions thereof reenacted as section 101 of this title by Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1105.
heading: Amendments
text: 1991—Pub. L. 102–83 renumbered section 753 of this title as this section.
1979—Pub. L. 96–128 substituted “such person’s” for “his”.
heading: Effective Date of 1979 Amendment
text: Amendment by Pub. L. 96–128 effective Nov. 28, 1979, see section 601(b) of Pub. L. 96–128, set out as a note under section 1114 of this title.
38 U.S.C. § 1954 (VETERANS’ BENEFITS)
§ 1954. Forfeiture
No yearly renewable term insurance or United States Government life insurance shall be payable for death inflicted as a lawful punishment for crime or military offense, except when inflicted by the enemy. In such cases the cash surrender value of United States Government life insurance, if any, on the date of such death shall be paid to the designated beneficiary if living, or if there be no designated beneficiary alive at the death of the insured the said value shall be paid to the estate of the insured.
(Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1161, § 754; renumbered § 1954, Pub. L. 102–83, § 5(a), Aug. 6, 1991, 105 Stat. 406.)
heading: Amendments
text: 1991—Pub. L. 102–83 renumbered section 754 of this title as this section.
38 U.S.C. § 1956 (VETERANS’ BENEFITS)
§ 1956. Military and naval insurance appropriation
All sums heretofore or hereafter appropriated for the military and naval insurance appropriation and all premiums collected for yearly renewable term insurance deposited and covered into the Treasury to the credit of this appropriation shall be made available to the Department. All premiums that may hereafter be collected for yearly renewable term insurance shall be deposited and covered into the Treasury for the credit of this appropriation. Such sum is made available for the payment of the liabilities of the United States incurred under contracts of yearly renewable term insurance. Payments from this appropriation shall be made upon and in accordance with the awards by the Secretary.
(Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1162, § 756; renumbered § 1956 and amended Pub. L. 102–83, §§ 4(a)(3), (4), (b)(1), (2)(E), 5(a), Aug. 6, 1991, 105 Stat. 404–406.)
heading: Amendments
text: 1991—Pub. L. 102–83, § 5(a), renumbered section 756 of this title as this section.
Pub. L. 102–83, § 4(b)(1), (2)(E), substituted “Secretary” for “Administrator”.
Pub. L. 102–83, § 4(a)(3), (4), substituted “Department” for “Veterans’ Administration”.
38 U.S.C. § 1958 (VETERANS’ BENEFITS)
§ 1958. Statutory total permanent disability
Without prejudice to any other cause of disability, the permanent loss of the use of both feet, of both hands, or of both eyes, or of one foot and one hand, or of one foot and one eye, or of one hand and one eye, or the loss of hearing of both ears, or the organic loss of speech, shall be deemed total permanent disability for insurance purposes. This section shall be deemed to be in effect on and after April 6, 1917, and shall apply only to automatic insurance, yearly renewable term insurance, and United States Government life insurance issued prior to December 15, 1936.
(Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1163, § 758; renumbered § 1958, Pub. L. 102–83, § 5(a), Aug. 6, 1991, 105 Stat. 406.)
heading: Amendments
text: 1991—Pub. L. 102–83 renumbered section 758 of this title as this section.
38 U.S.C. § 1959 (VETERANS’ BENEFITS)
§ 1959. Waiver of disability for reinstatement
(a) In the event that all provisions of the rules and regulations other than the requirements as to the physical condition of the applicant have been complied with, an application for reinstatement, in whole or in part, of lapsed United States Government life insurance may be approved if made within two years after the date of lapse and if the applicant’s disability is the result of an injury or disease, or of an aggravation thereof, suffered or contracted in the active military or naval service during the period beginning April 6, 1917, and ending July 2, 1921, and the applicant during the applicant’s lifetime submits proof satisfactory to the Secretary showing that the applicant is not totally and permanently disabled. As a condition to the acceptance of an application for reinstatement under this section, the applicant shall be required to pay all the back monthly premiums which would have become payable if such insurance had not lapsed, together with interest at the rate of 5 per centum per annum, compounded annually, on each premium from the date said premium is due by the terms of the policy.
(b) Premium liens established under the provisions of section 304 of the World War Veterans’ Act, 1924, shall continue to bear interest at the rate of 5 per centum per annum, compounded annually, and will be deducted from any settlement of insurance to which they are attached.
(Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1163, § 759; Pub. L. 99–576, title VII, § 701(33), Oct. 28, 1986, 100 Stat. 3293; renumbered § 1959 and amended Pub. L. 102–83, §§ 4(b)(1), (2)(E), 5(a), Aug. 6, 1991, 105 Stat. 404–406.)
heading: References in Text
text: Section 304 of the World War Veteran’s Act, 1924, referred to in subsec. (b), is section 304 of act June 7, 1924, ch. 320, title III, 43 Stat. 625, which enacted section 515 of former Title 38, Pensions, Bonuses, and Veterans’ Relief, and which was repealed and the provisions thereof reenacted as this section by Pub. L. 85–857, § 14(51), Sept. 2, 1958, 72 Stat. 1271.
heading: Amendments
text: 1991—Pub. L. 102–83 renumbered section 759 of this title as this section and substituted “Secretary” for “Administrator” in subsec. (a).
1986—Subsec. (a). Pub. L. 99–576 substituted “the applicant’s” for “his” and “the applicant” for “he”.
38 U.S.C. § 1961 (VETERANS’ BENEFITS)
§ 1961. Authority for higher interest rates for amounts payable to beneficiaries
Notwithstanding section 1944(b) of this title, if the beneficiary of an insurance policy issued under the provisions of this subchapter receives the proceeds of such policy under a settlement option under which such proceeds are paid in equal monthly installments over a limited period of months, the interest that may be added to each such installment may be at a rate that is higher than the interest rate prescribed in such section. The Secretary may from time to time establish a higher interest rate under the preceding sentence only in accordance with a determination that such higher rate is administratively and actuarially sound. Any such higher interest rate shall be paid on the unpaid balance of such monthly installments.
(Added Pub. L. 96–128, title III, § 303(a), Nov. 28, 1979, 93 Stat. 986, § 761; renumbered § 1961 and amended Pub. L. 102–83, §§ 4(b)(1), (2)(E), 5(a), (c)(1), Aug. 6, 1991, 105 Stat. 404–406.)
heading: Amendments
text: 1991—Pub. L. 102–83, § 5(a), renumbered section 761 of this title as this section.
Pub. L. 102–83, § 5(c)(1), substituted “1944(b)” for “744(b)”.
Pub. L. 102–83, § 4(b)(1), (2)(E), substituted “Secretary” for “Administrator”.
heading: Effective Date
text: Section effective Nov. 28, 1979, see section 601(b) of Pub. L. 96–128, set out as an Effective Date of 1979 Amendment note under section 1114 of this title.