38 U.S.C. § 1901 — Definitions

Page 497 TITLE 38—VETERANS’ BENEFITS § 1904 ‘‘Veterans’ Special Life Insurance’’ for ‘‘Veterans’ spe- cial term insurance’’ in item 723. 1971—Pub. L. 92–188, § 3, Dec. 15, 1971, 85 Stat. 645, sub- stituted ‘‘Payment or use of dividends’’ for ‘‘Dividends to pay premiums’’ in item 707. 1970—Pub. L. 91–291, § 7, June 25, 1970, 84 Stat. 331, sub- stituted ‘‘Duration and termination of coverage; con- version’’ for ‘‘Termination of coverage; conversion’’ in item 768. 1965—Pub. L. 89–214, § 2, Sept. 29, 1965, 79 Stat. 886, re- designated ‘‘SUBCHAPTER III—GENERAL’’ as ‘‘SUB- CHAPTER IV—GENERAL’’ and inserted ‘‘SUB- CHAPTER III—SERVICEMEN’S GROUP LIFE INSUR- ANCE’’ comprising items 765 to 776. 1964—Pub. L. 88–664, § 12(c), Oct. 13, 1964, 78 Stat. 1099, added item 725. SUBCHAPTER I—NATIONAL SERVICE LIFE INSURANCE § 1901. Definitions For the purposes of this subchapter— (1) The term ‘‘insurance’’ means National Service Life Insurance. (2) The terms ‘‘widow’’ or ‘‘widower’’ mean a person who was the lawful spouse of the insured at the maturity of the insurance. (3) The term ‘‘child’’ means a legitimate child, an adopted child, and, if designated as bene- ficiary by the insured, a stepchild or an illegit- imate child. (4) The terms ‘‘parent’’, ‘‘father’’, and ‘‘moth- er’’ mean a father, mother, father through adop- tion, mother through adoption, persons who have stood in loco parentis to a member of the military or naval forces at any time before entry into active service for a period of not less than one year, and a stepparent, if designated as beneficiary by the insured. (Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1148, § 701; renumbered § 1901, Pub. L. 102–83, § 5(a), Aug. 6, 1991, 105 Stat. 406.) Editorial Notes PRIOR PROVISIONS Prior section 1901 was renumbered section 3901 of this title. Another prior section 1901, Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1215, as amended by Pub. L. 90–77, title II, § 204(a), Aug. 31, 1967, 81 Stat. 184, related to veterans el- igible for assistance, prior to the general revision of chapter 39 of this title by Pub. L. 91–666. See sections 3901 and 3902 of this title. AMENDMENTS 1991—Pub. L. 102–83 renumbered section 701 of this title as this section. § 1902. Premium rates and policy values Premium rates for insurance shall be the net rates based upon the American Experience Table of Mortality and interest at the rate of 3 per centum per annum. All cash, loan, paid-up, and extended values, and all other calculations in connection with insurance, shall be based upon said American Experience Table of Mortality and interest at the rate of 3 per centum per annum. (Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1148, § 702; renumbered § 1902, Pub. L. 102–83, § 5(a), Aug. 6, 1991, 105 Stat. 406.) Editorial Notes PRIOR PROVISIONS Prior section 1902 was renumbered section 3902 of this title. Another prior section 1902, Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1215, related to limitation on types of as- sistance furnished and veterans otherwise entitled, prior to the general revision of chapter 39 of this title by Pub. L. 91–666. See sections 3902 and 3903 of this title. AMENDMENTS 1991—Pub. L. 102–83 renumbered section 702 of this title as this section. § 1903. Amount of insurance Insurance shall be issued in any multiple of $500 and the amount of insurance with respect to any one person shall be not less than $1,000 or more than $10,000. No person may carry a com- bined amount of National Service Life Insurance and United States Government life insurance in excess of $10,000 at any one time. The limita- tions of this section shall not apply to the addi- tional paid up insurance the purchase of which is authorized under section 1907 of this title. (Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1148, § 703; Pub. L. 92–188, § 1, Dec. 15, 1971, 85 Stat. 645; re- numbered § 1903 and amended Pub. L. 102–83, § 5(a), (c)(1), Aug. 6, 1991, 105 Stat. 406.) Editorial Notes PRIOR PROVISIONS Prior section 1903 was renumbered section 3903 of this title. Another prior section 1903, Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1216, related to limitation on amounts paid by United States, prior to the general revision of chapter 39 of this title by Pub. L. 91–666. See section 3902 of this title. AMENDMENTS 1991—Pub. L. 102–83 renumbered section 703 of this title as this section and substituted ‘‘1907’’ for ‘‘707’’. 1971—Pub. L. 92–188 made section limitations inappli- cable to the additional paid up insurance purchase of which is authorized under section 707 of this title. Statutory Notes and Related Subsidiaries EFFECTIVE DATE OF 1971 AMENDMENT Amendment by Pub. L. 92–188 effective on date estab- lished 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. § 1904. Plans of insurance (a) Insurance may be issued on the following plans: Five-year level premium term, ordinary life, twenty-payment life, thirty-payment life, twenty-year endowment, endowment at age sixty, and endowment at age sixty-five. Level premium term insurance may be converted as of the date when any premium becomes or has be- come due, or exchanged as of the date of the original policy, upon payment of the difference in reserve, at any time while such insurance is in force and within the term period to any of the foregoing permanent plans of insurance, except that conversion to an endowment plan may not be made while the insured is totally disabled.