Collapse to view only § 3975. Policy restrictions
- § 3971. Definitions
- § 3972. Insurance rights and protections
- § 3973. Application for insurance protection
- § 3974. Policies entitled to protection and lapse of policies
- § 3975. Policy restrictions
- § 3976. Deduction of unpaid premiums
- § 3977. Premiums and interest guaranteed by United States
- § 3978. Regulations
- § 3979. Review of findings of fact and conclusions of law
§ 3971. DefinitionsFor the purposes of this subchapter:
(1) PolicyThe term “policy” means any individual contract for whole, endowment, universal, or term life insurance (other than group term life insurance coverage), including any benefit in the nature of such insurance arising out of membership in any fraternal or beneficial association which—
(A) provides that the insurer may not—
(i) decrease the amount of coverage or require the payment of an additional amount as premiums if the insured engages in military service (except increases in premiums in individual term insurance based upon age); or
(ii) limit or restrict coverage for any activity required by military service; and
(B) is in force not less than 180 days before the date of the insured’s entry into military service and at the time of application under this subchapter.
(2) Premium
(3) Insured
(4) Insurer
(Oct. 17, 1940, ch. 888, title IV, § 401, as added Pub. L. 108–189, § 1, Dec. 19, 2003, 117 Stat. 2851.)
§ 3972. Insurance rights and protections
(a) Rights and protections
The rights and protections under this subchapter apply to the insured when—
(1) the insured,
(2) the insured’s legal representative, or
(3) the insured’s beneficiary in the case of an insured who is outside a State,
applies in writing for protection under this subchapter, unless the Secretary of Veterans Affairs determines that the insured’s policy is not entitled to protection under this subchapter.
(b) Notification and application
(c) Limitation on amount
(Oct. 17, 1940, ch. 888, title IV, § 402, as added Pub. L. 108–189, § 1, Dec. 19, 2003, 117 Stat. 2852.)
§ 3973. Application for insurance protection
(a) Application procedure
An application for protection under this subchapter shall—
(1) be in writing and signed by the insured, the insured’s legal representative, or the insured’s beneficiary, as the case may be;
(2) identify the policy and the insurer; and
(3) include an acknowledgement that the insured’s rights under the policy are subject to and modified by the provisions of this subchapter.
(b) Additional requirements
(c) Notice to the Secretary by the insurer
(d) Policy modification
(Oct. 17, 1940, ch. 888, title IV, § 403, as added Pub. L. 108–189, § 1, Dec. 19, 2003, 117 Stat. 2852.)
§ 3974. Policies entitled to protection and lapse of policies
(a) Determination
(b) Lapse protection
(c) Time application
(Oct. 17, 1940, ch. 888, title IV, § 404, as added Pub. L. 108–189, § 1, Dec. 19, 2003, 117 Stat. 2853.)
§ 3975. Policy restrictions
(a) Dividends
(b) Specific restrictions
(Oct. 17, 1940, ch. 888, title IV, § 405, as added Pub. L. 108–189, § 1, Dec. 19, 2003, 117 Stat. 2853.)
§ 3976. Deduction of unpaid premiums
(a) Settlement of proceeds
(b) Interest rate
(c) Reporting requirement
(Oct. 17, 1940, ch. 888, title IV, § 406, as added Pub. L. 108–189, § 1, Dec. 19, 2003, 117 Stat. 2853.)
§ 3977. Premiums and interest guaranteed by United States
(a) Guarantee of premiums and interest by the United States
(1) Guarantee
(2) Policy termination
(b) Recovery from insured of amounts paid by the United States
(1) Debt payable to the United States
(2) Collection
(3) Debt not dischargeable in bankruptcy
(c) Crediting of amounts recovered
(Oct. 17, 1940, ch. 888, title IV, § 407, as added Pub. L. 108–189, § 1, Dec. 19, 2003, 117 Stat. 2853.)
§ 3978. Regulations
The Secretary of Veterans Affairs shall prescribe regulations for the implementation of this subchapter.
(Oct. 17, 1940, ch. 888, title IV, § 408, as added Pub. L. 108–189, § 1, Dec. 19, 2003, 117 Stat. 2854.)
§ 3979. Review of findings of fact and conclusions of law
The findings of fact and conclusions of law made by the Secretary of Veterans Affairs in administering this subchapter are subject to review on appeal to the Board of Veterans’ Appeals pursuant to chapter 71 of title 38 and to judicial review only as provided in chapter 72 of such title.
(Oct. 17, 1940, ch. 888, title IV, § 409, as added Pub. L. 108–189, § 1, Dec. 19, 2003, 117 Stat. 2854.)