10 U.S.C. § 12530 — Payment of benefits

(a) Commencement of Payment. An insured member^* who serves more than 30 days of covered service^* must be paid the amount the member is entitled to each month. Payments must begin no later than one month after the 30th day of covered service.

(b) Method of Payment. The Secretary^* must prescribe by regulation how payments are made to the member or to a person designated under subsection (c).

(c) Designated Recipients.

(1) A member may designate another person in writing to receive insurance benefits under the insurance program^*. That person may be a spouse, parent, or another person with an insurable interest, as determined under the Secretary's regulations.

(2) A member may direct that insurance-benefit payments for a person designated under paragraph (1) be deposited with a bank or another financial institution to the credit of the designated person.

(d) Recipients in Event of Death of Insured Member. Any insurance payable under the insurance program because of a deceased member's period of covered service must be paid, after a valid claim is established, to the beneficiary or beneficiaries the deceased member designated in writing. If the member made no such designation, the amount is payable under the laws of the State of the member's domicile.