38-U.S.C.-1944
§1944 – Policy Provisions
Pathway
Title 38 > Part II > Chapter 19 > Subchapter II > Section 1944
Details
- Reference: Section 1944
- Legend: §1944 – Policy Provisions
- USCode Year: 2013
Provision Content
(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 insureds 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.)
Amendments
1991—Pub. L. 102–83 renumbered section 744 of this title as this section.
1986—Subsec. (b). Pub. L. 99–576 substituted the insureds for his.
1982—Subsecs. (b), (c). Pub. L. 97–295 substituted percent for per centum.
U.S. Encyclopedia of Law Coverage
38-U.S.C.-1919 in the Legal Encyclopedia: Veterans
In this entry about 38-U.S.C.-1919, find legal reference material, bibliographies and premiere content related to veterans in the American Encyclopedia of Law, presenting a comprehensive view of the United States veterans-specific issues, written by authorities in the field.
38-U.S.C.-1927 in the Legal Encyclopedia: Life Insurance
In this entry about 38-U.S.C.-1927, find legal reference material, bibliographies and premiere content related to life insurance in the American Encyclopedia of Law, presenting a comprehensive view of the United States life insurance-specific issues, written by authorities in the field.
38-U.S.C.-1916 in the Legal Encyclopedia: Insurance
In this entry about 38-U.S.C.-1916, find legal reference material, bibliographies and premiere content related to insurance in the American Encyclopedia of Law, presenting a comprehensive view of the United States insurance-specific issues, written by authorities in the field.
38-U.S.C.-1927 in the Legal Encyclopedia: Benefits
In this entry about 38-U.S.C.-1927, find legal reference material, bibliographies and premiere content related to benefits in the American Encyclopedia of Law, presenting a comprehensive view of the United States benefits-specific issues, written by authorities in the field.
Leave a Reply