§ 1950. Payment to estates

Statutory text

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.

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.

1958
Pub. L. 85–857 · 72 Stat. 1105
Enacted · 38 U.S.C. § 1950
Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1160, § 750
Source evidence
Code source credit
Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1160, § 750
1986
Pub. L. 99–576 title VII § 701(31) · 100 Stat. 3248
Substituted · 38 U.S.C. § 1950
Pub. L. 99–576 substituted “while alive or by last will” for “in his lifetime or by his last will and testament”
Source evidence
Code amendment note
Pub. L. 99–576 substituted “while alive or by last will” for “in his lifetime or by his last will and testament”.
Enacted provision · exact public law section
(31) Section 750 is amended by striking out “in his lifetime or by his last will and testament” and inserting in lieu thereof “while alive or by last will”.
1991
Pub. L. 102–83 § 5(a) · 105 Stat. 378
Changed · 38 U.S.C. § 1950
Pub. L. 102–83 renumbered section 750 of this title as this section
Source evidence
Code amendment note
Pub. L. 102–83 renumbered section 750 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.