38 U.S.C. § 1902 — Premium rates and policy values

in plain englishAI-generated · not legal advice

This section sets rules for premium rates and policy values under National Service Life Insurance.

Premium rates for insurance shall be the net rates based upon the American Experience Table of Mortality and interest at the rate of 3 per centum per annum. All cash, loan, paid-up, and extended values, and all other calculations in connection with insurance, shall be based upon said American Experience Table of Mortality and interest at the rate of 3 per centum per annum.

the actual law source: uscode.house.gov ↗public domain

Premium rates for insurance shall be the net rates based upon the American Experience Table of Mortality and interest at the rate of 3 per centum per annum. All cash, loan, paid-up, and extended values, and all other calculations in connection with insurance, shall be based upon said American Experience Table of Mortality and interest at the rate of 3 per centum per annum.

Source credit: (Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1148, § 702; renumbered § 1902, Pub. L. 102–83, § 5(a), Aug. 6, 1991, 105 Stat. 406.)

history & why it existsrecord from the source credit

1958Enacted · Pub. L. 85-857 · 72 Stat. 1148
1991Amended · Pub. L. 102-83 · 105 Stat. 406

A history note hasn’t been published yet. The record shows enactment by Pub. L. 85-857 on 1958-09-02.