[Code of Federal Regulations]
[Title 38, Volume 1]
[Revised as of January 1, 2007]
From the U.S. Government Printing Office via GPO Access
[CITE: 38CFR7.4]

[Page 497]
 
            TITLE 38--PENSIONS, BONUSES, AND VETERANS' RELIEF
 
                CHAPTER I--DEPARTMENT OF VETERANS AFFAIRS
 
PART 7_SOLDIERS' AND SAILORS' CIVIL RELIEF--Table of Contents
 
Sec. 7.4  The premium.

    The term premium as defined under 50 U.S.C. app. 540(b) shall 
include membership dues and assessments in an association.
    (a) The premium on a policy will be calculated on an annual basis, 
and if the annual premium is not stated on the policy, the insurer will 
make a calculation of the premiums for payment in advance and discounted 
at not less than 3\1/2\ percent, subject to approval by the Department 
of Veterans Affairs.
    (b) Premiums will not be guaranteed for benefits additional to the 
primary death benefit if, when combined with the amount of the primary 
death benefit, the total benefit would result in a payment in excess of 
$10,000 or if liability for such benefits is excluded or restricted by 
military service or any activity which the insured may be called upon to 
perform in connection with military service. In the event that premiums 
for the primary and additional benefits are not separable under the 
terms of the policy the entire policy will be guaranteed, if the policy 
is otherwise eligible for protection under the law.

[13 FR 7103, Nov. 27, 1948. Redesignated and amended at 61 FR 29026, 
June 7, 1996]