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Title 38, Veterans' BenefitsRelease 119-102

§1966 Eligible Insurance Companies

Title 38 › PART II — GENERAL BENEFITS › CHAPTER 19 — INSURANCE › SUBCHAPTER III — SERVICEMEMBERS’ GROUP LIFE INSURANCE › § 1966

Last updated Aug 21, 2026|Official source

Summary

The Secretary can buy group life insurance policies from one or more life insurance companies to provide the benefits covered by this subchapter. Any company selling such a policy must be licensed to sell life insurance in all 50 states and the District of Columbia. As of the most recent December 31 for which the Secretary has data, each company must have at least 1 percent of all group life insurance in force in the United States. The company or companies must set up an administrative office where and under the name the Secretary chooses. The Secretary can have those companies pass parts of the coverage to other qualifying insurers through reinsurance, under conditions the Secretary approves and if those insurers choose to join. The Secretary may stop any purchased policy at any time.

Full Legal Text

Title 38, §1966

Veterans' Benefits, Source: USLM XML via OLRC

(a)The Secretary is authorized, without regard to section 6101(b) to (d) of title 41, to purchase from one or more life insurance companies a policy or policies of group life insurance to provide the benefits specified in this subchapter. Each such life insurance company must (1) be licensed to issue life insurance in each of the fifty States of the United States and in the District of Columbia, and (2) as of the most recent December 31 for which information is available to the Secretary, have in effect at least 1 percent of the total amount of group life insurance which all life insurance companies have in effect in the United States.
(b)The life insurance company or companies issuing such policy or policies shall establish an administrative office at a place and under a name designated by the Secretary.
(c)The Secretary shall arrange with the life insurance company or companies issuing any policy or policies under this subchapter to reinsure, under conditions approved by the Secretary, portions of the total amount of insurance under such policy or policies with such other life insurance companies (which meet qualifying criteria set forth by the Secretary) as may elect to participate in such reinsurance.
(d)The Secretary may at any time discontinue any policy or policies which the Secretary has purchased from any insurance company under this subchapter.

Legislative History

Notes & Related Subsidiaries

Editorial Notes

Amendments

2011—Subsec. (a). Pub. L. 111–350 substituted “section 6101(b) to (d) of title 41” for “section 3709 of the Revised Statutes, as amended (41 U.S.C. 5)”. 1991—Pub. L. 102–83 renumbered section 766 of this title as this section and substituted “Secretary” for “Administrator” wherever appearing. 1986—Subsec. (c). Pub. L. 99–576, § 701(36)(A), substituted “the Administrator” for “him”. Subsec. (d). Pub. L. 99–576, § 701(36)(B), substituted “the Administrator” for “he”. 1982—Subsec. (a). Pub. L. 97–295 substituted “percent” for “per centum”.

Reference

Citations & Metadata

Citation

38 U.S.C. § 1966

Title 38, Veterans' Benefits

Last Updated

Aug 21, 2026

Release point: 119-102