
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 23, 2000]
[Document not affected by Public Laws enacted between
  January 23, 2000 and December 4, 2001]
[CITE: 38USC1944]

 
                      TITLE 38--VETERANS' BENEFITS
 
                        PART II--GENERAL BENEFITS
 
                          CHAPTER 19--INSURANCE
 
         SUBCHAPTER II--UNITED STATES GOVERNMENT LIFE INSURANCE
 
Sec. 1944. Policy provisions

    (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 3\1/2\ percent per annum, 
except that no deduction shall be made for continuous installments 
during the life of the insured in case the insured's 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, Sec. 744; Pub. L. 97-295, 
Sec. 4(26), Oct. 12, 1982, 96 Stat. 1307; Pub. L. 99-576, title VII, 
Sec. 701(30), Oct. 28, 1986, 100 Stat. 3293; renumbered Sec. 1944, Pub. 
L. 102-83, Sec. 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 insured's'' for 
``his''.
    1982--Subsecs. (b), (c). Pub. L. 97-295 substituted ``percent'' for 
``per centum''.

                  Section Referred to in Other Sections

    This section is referred to in sections 1961, 1962 of this title.
