[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: 38CFR9.4]

[Page 522-523]
 
            TITLE 38--PENSIONS, BONUSES, AND VETERANS' RELIEF
 
                CHAPTER I--DEPARTMENT OF VETERANS AFFAIRS
 
PART 9_SERVICEMEMBERS' GROUP LIFE INSURANCE AND VETERANS' GROUP
 
Sec. 9.4  Beneficiaries and options.

    Any designation of beneficiary or election of settlement options is 
subject to the provisions of 38 U.S.C. 1970 and 1977 and the following 
provisions:
    (a) Any designation of beneficiary or settlement option election 
made by any member insured under Servicemembers' Group Life Insurance 
for full-time coverage or part-time coverage will remain in effect until 
properly changed by the member or canceled automatically for any of the 
following reasons:
    (1) The insurance terminates following separation or release from 
all duty in a uniformed service.
    (2) The member enters on duty in another uniformed service.
    (3) The member reenters on duty in the same uniformed service more 
than 1 calendar day after separation or release from all duty in that 
uniformed service.
    (b) A change of beneficiary may be made at any time and without the 
knowledge or consent of the previous beneficiary.
    (c) Until and unless otherwise changed, a beneficiary designation 
and settlement option election of record on the date a statutory 
increase in coverage takes effect shall be considered to be a 
beneficiary and optional settlement election for the increased amount as 
well, and any beneficiary named therein shall be entitled to the same

[[Page 523]]

percentage (%) share of the new total coverage amount as that 
beneficiary was entitled to prior to the statutory increase in coverage.

(Authority: 38 U.S.C. 501)

[40 FR 4135, Jan. 28, 1975, as amended at 53 FR 17699, May 18, 1988. 
Redesignated and amended at 61 FR 20135, 20136, May 6, 1996]