[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: 38CFR8.1]

[Page 499-500]
 
            TITLE 38--PENSIONS, BONUSES, AND VETERANS' RELIEF
 
                CHAPTER I--DEPARTMENT OF VETERANS AFFAIRS
 
PART 8_NATIONAL SERVICE LIFE INSURANCE--Table of Contents
 
Sec. 8.1  Effective date for an insurance policy issued under 

section 1922(a) of title 38 U.S.C. (Service-Disabled Veterans' 
Insurance).

    (a) What is the effective date of the policy? The effective date is 
the date policy coverage begins. Benefits due under the policy are 
payable any time after the effective date.
    (b) How is the effective date established? The effective date is the 
date you deliver both of the following to VA:
    (1) A valid application.
    (2) A premium payment.

    Note 1 to paragraph (b): If your valid application and premium are 
mailed to VA, the postmark date will be the date of delivery.
    Note 2 to paragraph (b): If a postmark date is not available, the 
date of delivery

[[Page 500]]

will be the date your valid application and premium are received by VA.

    (c) Can you have a different effective date? Yes, if you would like 
an effective date other than the date of delivery as described in 
paragraph (b) of this section, you may choose one of the following three 
options as an effective date:
    (1) The first day of the month in which you deliver your valid 
application and premium payment to VA. For example, if VA receives your 
application and premium payment on August 15, you may request an 
effective date of August 1.
    (2) The first day of the month following the month in which you 
deliver your valid application and premium payment. For example, if VA 
receives your application and premium payment on August 15, you may 
request an effective date of September 1.
    (3) The first day of any month up to six months prior to the month 
in which you deliver your valid application and premium payment. For 
example, if VA receives your application and premium payment on August 
15, you may request an effective date of February 1 or the first day of 
any month following up to August 1. However, you must pay the following:
    (i) The insurance reserve amount for the time period for each month 
starting with the requested effective date up to the first day of the 
month prior to the month in which you delivered your application to VA; 
and
    (ii) The premium for the month in which you delivered your 
application to VA.

    Note to paragraph (c): For example, if your postmark date is August 
15 and you request an effective date of February 1, you must pay the 
insurance reserve amount for February 1 through July 31, and also pay 
the August premium.

[67 FR 54738, Aug. 26, 2002]

                                Premiums