dreamproit/uscode huggingface dataset:
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: Editorial Notes
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: Editorial Notes
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: Statutory Notes and Related Subsidiaries
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: Editorial Notes
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: Editorial Notes
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: Editorial Notes
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: Editorial Notes
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: Editorial Notes
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: Editorial Notes
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: Statutory Notes and Related Subsidiaries
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: Editorial Notes
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: Editorial Notes
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: Editorial Notes
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: Editorial Notes
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: Editorial Notes
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: Statutory Notes and Related Subsidiaries
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.
38 U.S.C. § 1962 (VETERANS’ BENEFITS)
§ 1962. Authority for higher monthly installments payable to certain annuitants
(a) Subject to subsections (b) and (c) of this section, the Secretary may from time to time adjust the dollar amount of the monthly installments payable to a beneficiary of United States Government Life Insurance who is receiving the proceeds of such insurance under a life annuity settlement option. The Secretary may make such an adjustment only if the Secretary determines that the adjustment is administratively and actuarially sound. The Secretary may make such an adjustment without regard to the provisions of section 1944 of this title with respect to interest rates and the use of mortality tables.
(b) The Secretary shall determine the amount in the trust fund in the Treasury held for payment of proceeds to United States Government Life Insurance beneficiaries attributable to interest and mortality gains on the reserves held for annuity accounts. Such amount shall be available for distribution to the life annuitants referred to in subsection (a) of this section as a fixed percentage of, and in addition to, the monthly installment amount to which the annuitants are entitled under this subchapter. For the purposes of this section, gains on the reserves are defined as funds attributable solely to annuity accounts that are in excess of actuarial liabilities.
(c) The monthly amount of an annuity authorized in section 1944 of this title, as adjusted under this section, may not be less than the monthly amount of such annuity that would otherwise be applicable without regard to this section.
(Added Pub. L. 100–322, title III, § 331(b)(1), May 20, 1988, 102 Stat. 536, § 762; renumbered § 1962 and amended Pub. L. 102–83, §§ 4(b)(1), (2)(E), 5(a), (c)(1), Aug. 6, 1991, 105 Stat. 404–406.)
heading: Editorial Notes
heading: Amendments
text: 1991—Pub. L. 102–83, § 5(a), renumbered section 762 of this title as this section.
Subsec. (a). Pub. L. 102–83, § 5(c)(1), substituted “1944” for “744”.
Pub. L. 102–83, § 4(b)(1), (2)(E), substituted “Secretary” for “Administrator” wherever appearing.
Subsec. (b). Pub. L. 102–83, § 4(b)(1), (2)(E), substituted “Secretary” for “Administrator”.
Subsec. (c). Pub. L. 102–83, § 5(c)(1), substituted “1944” for “744”.
38 U.S.C. § 1963 (VETERANS’ BENEFITS)
§ 1963. 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 United States Government Life 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) shall be at the rate that is established by the Secretary for dividends held on credit or deposit in policyholders’ accounts.
(Added Pub. L. 100–687, div. B, title XIV, § 1401(a)(2), Nov. 18, 1988, 102 Stat. 4128, § 763; renumbered § 1963 and amended Pub. L. 102–83, §§ 4(b)(1), (2)(E), 5(a), Aug. 6, 1991, 105 Stat. 404–406.)
heading: Editorial Notes
heading: Amendments
text: 1991—Pub. L. 102–83 renumbered section 763 of this title as this section and substituted “Secretary” for “Administrator” wherever appearing.
heading: Statutory Notes and Related Subsidiaries
heading: Effective Date
text: Section effective with respect to insurance policies maturing after Nov. 18, 1988, see section 1401(a)(3) of Pub. L. 100–687, set out as a note under section 1928 of this title.
38 U.S.C. § 1966 (VETERANS’ BENEFITS)
§ 1966. Eligible insurance companies
(a) The Secretary is authorized, without regard to section 6101(b) to (d) of title 41, to purchase from one or more life insurance companies a policy or policies of group life insurance to provide the benefits specified in this subchapter. Each such life insurance company must (1) be licensed to issue life insurance in each of the fifty States of the United States and in the District of Columbia, and (2) as of the most recent December 31 for which information is available to the Secretary, have in effect at least 1 percent of the total amount of group life insurance which all life insurance companies have in effect in the United States.
(b) The life insurance company or companies issuing such policy or policies shall establish an administrative office at a place and under a name designated by the Secretary.
(c) The Secretary shall arrange with the life insurance company or companies issuing any policy or policies under this subchapter to reinsure, under conditions approved by the Secretary, portions of the total amount of insurance under such policy or policies with such other life insurance companies (which meet qualifying criteria set forth by the Secretary) as may elect to participate in such reinsurance.
(d) The Secretary may at any time discontinue any policy or policies which the Secretary has purchased from any insurance company under this subchapter.
(Added Pub. L. 89–214, § 1(a), Sept. 29, 1965, 79 Stat. 880, § 766; amended Pub. L. 97–295, § 4(29), Oct. 12, 1982, 96 Stat. 1307; Pub. L. 99–576, title VII, § 701(36), Oct. 28, 1986, 100 Stat. 3293; renumbered § 1966 and amended Pub. L. 102–83, §§ 4(b)(1), (2)(E), 5(a), Aug. 6, 1991, 105 Stat. 404–406; Pub. L. 111–350, § 5(j)(2), Jan. 4, 2011, 124 Stat. 3850.)
heading: Editorial Notes
heading: Amendments
text: 2011—Subsec. (a). Pub. L. 111–350 substituted “section 6101(b) to (d) of title 41” for “section 3709 of the Revised Statutes, as amended (41 U.S.C. 5)”.
1991—Pub. L. 102–83 renumbered section 766 of this title as this section and substituted “Secretary” for “Administrator” wherever appearing.
1986—Subsec. (c). Pub. L. 99–576, § 701(36)(A), substituted “the Administrator” for “him”.
Subsec. (d). Pub. L. 99–576, § 701(36)(B), substituted “the Administrator” for “he”.
1982—Subsec. (a). Pub. L. 97–295 substituted “percent” for “per centum”.