§ 1904. Plans of insurance

Legislative history

Reconstructed from this section’s Code source credit and amendment notes, resolved against the local Statutes at Large. Editorial notes are evidence, not the law that made the change.

1. 1958

   Pub. L. 85–857 · 72 Stat. 1105

   Enacted · 38 U.S.C. § 1904

   Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1148, § 704

   Source evidence

   Code source credit
   Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1148, § 704

2. 1964

   Pub. L. 88–664 § 12(b) · 78 Stat. 1094

   1. Amended · 38 U.S.C. § 1904

      Pub. L. 88–664 designated existing provisions as subsec. (a)

   2. Added · 38 U.S.C. § 1904

      Pub. L. 88–664 added subsecs. (b) to (d)

   Source evidence

   Code amendment note
   Pub. L. 88–664 designated existing provisions as subsec. (a) and added subsecs. (b) to (d).

   Enacted provision · exact public law section
   (b) Section 704 of title 38, United States Code, is amended (1) by inserting “(a)” immediately before “Insurance”; and (2) by adding at the end thereof the following: “(b) Under such regulations as the Administrator may promulgate a policy of participating insurance may be con vertex! to or exchanged for insurance issued under this subsection on a modified life plan. Insurance issued under this subsection shall be on the same terms and conditions as the insurance which it replaces, except. (1) the premium rates for such insurance shall be based on the 1958 Commissioners Standard Ordinary Basic Table of Mortality and interest at the rate of 3 per centum per annum; (2) all cash, loan, paid-up, and extended values shall be based on the 1958 Commissioners Standard Ordinary Basic Table of Mortality and interest at the rate of 3 per centum per annum; and (3) at the end of the day preceding the sixty-fifth birth-day of the insured the face value of the modified life insurance policy or the amount of extended term insurance thereunder shall be automatically reduced by one-half thereof, without any reduction in premium. “(c) Under such regulations as the Administrator may promulgate, a policy of non participating insurance may be converted to or exchanged for insurance issued under this subsection on a modified life plan. Insurance issued under this subsection shall be on the same terms and conditions as the insurance which it replaces, except that (1) term insurance issued under section 621 of the National Service Life Insurance Act of 1940 shall be deemed for the purposes of this subsection to have been issued under section 723(b) of this 65 Stat. 36; 72 Stat. 1272. title; and (2) at the end of the day preceding the sixty-fifth birthday of the insured the face value of the modified life insurance policy or the amount of extended term insurance thereunder shall be automatically reduced by one-half thereof, without any reduction in premium. Any person eligible for insurance under section 722(a), or section 725 72 Stat. 1155. of this title may be granted a modified life insurance policy under this subsection which, subject to exception (2) above, shall be issued on the same terms and conditions specified in Section 722(a) or section 725, whichever is applicable. “(d) Any insured whose modified life insurance policy is in force by payment or waiver of premiums on the day before his sixty-fifth birthday may upon written application and payment of premiums made before such birthday be granted National Service Life Insurance, on an ordinary life plan, without physical examination, in an amount of not less than $500, in multiples of $250, but not in excess of one-half of the face amount of the modified life insurance policy in force on the day before his sixty-fifth birthday. Insurance issued under this subsection shall be effective on the sixty-fifth birthday of the insured. The premium rate, cash, loan, paid-up, and extended values on the ordinary life insurance issued under this subsection shall be based on the same mortality tables and interest rates as the insurance issued under the modified life policy. Settlements on policies involving annuities on insurance issued under this subsection shall be based on the same mortality or annuity tables and interest rates as such settlements on the modified life policy. If the insured is totally disabled on the day before his sixty-fifth birthday and premiums on his modified life insurance policy are being waived under section 712 of this title or he is entitled on that date to waiver under such section he shall be automatically granted the maximum amount of insurance authorized under this subsection and premiums on such insurance shall be waived during the continuous total disability of the insured.”

3. 1971

   Pub. L. 92–193 · 85 Stat. 648

   Added · 38 U.S.C. § 1904(e)

   Pub. L. 92–193 added subsec. (e)

   Source evidence

   Code amendment note
   Subsec. (e). Pub. L. 92–193 added subsec. (e).

   Effective date note
   Pub. L. 92–193 provided that the amendment made by Pub. L. 92–193 is effective first day of first calendar month which begins more than six calendar months after Dec. 15, 1971.

4. 1982

   Pub. L. 97–295 § 4(21) · 96 Stat. 1287

   1. Substituted · 38 U.S.C. § 1904(e)

      Pub. L. 97–295 substituted “After June 30, 1972,” for “On and after the effective date of this subsection”

   2. Substituted · 38 U.S.C. § 1904(e)

      Pub. L. 97–295 substituted “subsection” for “subsections” after “plan issued under”

   Source evidence

   Code amendment note
   Subsec. (e). Pub. L. 97–295 substituted “After June 30, 1972,” for “On and after the effective date of this subsection”, and substituted “subsection” for “subsections” after “plan issued under”.

   Enacted provision · exact public law section
   (21) Section 704(e) is amended— (A) in the first sentence, by striking out “On and after the effective date of this subsection” and substituting “After June 30, 1972,”; and (B) in the 3d sentence, by striking out “subsections” and substituting “subsection”.

5. 1986

   Pub. L. 99–576 § 701(21)(A) · 100 Stat. 3248

   1. Substituted · 38 U.S.C. § 1904(d)

      Pub. L. 99–576, § 701(21)(A), substituted “the insured’s” for “his” in two places

   2. Substituted · 38 U.S.C. § 1904(d)

      Pub. L. 99–576, § 701(21)(A), substituted “the insured” for “he” in two places

   Source evidence

   Code amendment note
   Subsec. (d). Pub. L. 99–576, § 701(21)(A), substituted “the insured’s” for “his” in four places, and “the insured” for “he” in two places.

   Enacted provision · exact public law section
   (A) in subsection (d)— (i) by striking out “his” each place it appears and inserting in lieu thereof “the insured’s”; and (ii) by striking out “he” each place it appears and inserting in lieu thereof “the insured”; and

6. 1986

   Pub. L. 99–576 § 701(21)(B) · 100 Stat. 3248

   1. Substituted · 38 U.S.C. § 1904(e)

      Pub. L. 99–576, § 701(21)(B), substituted “the insured’s” for “his”

   2. Substituted · 38 U.S.C. § 1904(e)

      Pub. L. 99–576, § 701(21)(B), substituted “the Administrator” for “he”

   Source evidence

   Code amendment note
   Subsec. (e). Pub. L. 99–576, § 701(21)(B), substituted “the insured’s” for “his” and “the Administrator” for “he”.

   Enacted provision · exact public law section
   (B) in subsection (e)— (i) by striking out “his” and inserting in lieu thereof “the insured’s”; and (ii) by striking out “he” and inserting in lieu thereof “the Administrator”.

7. 1991

   Pub. L. 102–83 § 5(a) · 105 Stat. 378

   Changed · 38 U.S.C. § 1904

   Pub. L. 102–83, § 5(a), renumbered section 704 of this title as this section

   Source evidence

   Code amendment note
   Pub. L. 102–83, § 5(a), renumbered section 704 of this title as this section.

   Enacted provision · exact public law section
   (a) Redesignation of Sections to Conform to Chapter Numbers.— Each section contained in any of chapters 11 through 23 is redesignated by replacing the first digit of the section number with the number of the chapter containing that section. Each section contained in any of chapters 24 through 42 is redesignated so that the first two digits of the section number of that section are the same as the chapter number of the chapter containing that section.

8. 1991

   Pub. L. 102–83 § 4(b)(1) · 105 Stat. 378

   Substituted · 38 U.S.C. § 1904(b)

   Pub. L. 102–83, § 4(b)(1), (2)(E), substituted “Secretary” for “Administrator”

   Source evidence

   Code amendment note
   Subsec. (b). Pub. L. 102–83, § 4(b)(1), (2)(E), substituted “Secretary” for “Administrator”.

   Enacted provision · exact public law section
   (1) Title 38 is further amended by striking out “Administrator” and “Administrator’s” each place they appear (except as provided in paragraphs (2) and (9) and including where they appear in section headings and tables of sections) and inserting in lieu thereof “Secretary” and “Secretary’s”, respectively.

9. 1991

   Pub. L. 102–83 § 5(c)(1) · 105 Stat. 378

   1. Substituted · 38 U.S.C. § 1904(c)

      Pub. L. 102–83, § 5(c)(1), substituted “1923(b)” for “723(b)” in two places

   2. Substituted · 38 U.S.C. § 1904(c)

      Pub. L. 102–83, § 5(c)(1), substituted “1922(a)” for “722(a)” in two places

   3. Substituted · 38 U.S.C. § 1904(c)

      Pub. L. 102–83, § 5(c)(1), substituted “1925” for “725” in two places

   Source evidence

   Code amendment note
   Subsec. (c). Pub. L. 102–83, § 5(c)(1), substituted “1923(b)” for “723(b)”, “1922(a)” for “722(a)” in two places, and “1925” for “725” in two places.

   Enacted provision · exact public law section
   (1) Each provision of title 38, United States Code, that contains a reference to a section redesignated by subsection (a) is amended so that the reference refers to the section as redesignated.

10. 1991

    Pub. L. 102–83 § 4(b)(1) · 105 Stat. 378

    Substituted · 38 U.S.C. § 1904(c)

    Pub. L. 102–83, § 4(b)(1), (2)(E), substituted “Secretary” for “Administrator”

    Target inherited from the preceding amendment note.

    Source evidence

    Code amendment note
    Pub. L. 102–83, § 4(b)(1), (2)(E), substituted “Secretary” for “Administrator”.

    Enacted provision · exact public law section
    (1) Title 38 is further amended by striking out “Administrator” and “Administrator’s” each place they appear (except as provided in paragraphs (2) and (9) and including where they appear in section headings and tables of sections) and inserting in lieu thereof “Secretary” and “Secretary’s”, respectively.

11. 1991

    Pub. L. 102–83 § 5(c)(1) · 105 Stat. 378

    Substituted · 38 U.S.C. § 1904(d)

    Pub. L. 102–83, § 5(c)(1), substituted “1912” for “712”

    Source evidence

    Code amendment note
    Subsec. (d). Pub. L. 102–83, § 5(c)(1), substituted “1912” for “712”.

    Enacted provision · exact public law section
    (1) Each provision of title 38, United States Code, that contains a reference to a section redesignated by subsection (a) is amended so that the reference refers to the section as redesignated.

12. 1991

    Pub. L. 102–83 § 4(b)(1) · 105 Stat. 378

    Substituted · 38 U.S.C. § 1904(e)

    Pub. L. 102–83, § 4(b)(1), (2)(E), substituted “Secretary” for “Administrator” wherever appearing

    Source evidence

    Code amendment note
    Subsec. (e). Pub. L. 102–83, § 4(b)(1), (2)(E), substituted “Secretary” for “Administrator” wherever appearing.

    Enacted provision · exact public law section
    (1) Title 38 is further amended by striking out “Administrator” and “Administrator’s” each place they appear (except as provided in paragraphs (2) and (9) and including where they appear in section headings and tables of sections) and inserting in lieu thereof “Secretary” and “Secretary’s”, respectively.

16 of 18 references resolved to an enrolled provision · 2 partial