Executive Order 6096—Veterans Regulation No. 8

YEARLY RENEWABLE TERM INSURANCE.

Whereas, Section 17, Title I, of Public No. 2, 73rd Congress, entitled "An Act To maintain the credit of the United States Government" provides:

"All public laws granting medical or hospital treatment, domiciliary care, compensation and other allowances, pension, disability allowance, or retirement pay to veterans and the dependents of veterans of the Spanish-American War, including the Boxer Rebellion and the Philippine Insurrection, and the World War, or to former members of the military or naval service for injury or disease incurred or aggravated in the line of duty in the military or naval service (except so far as they relate to persons who served prior to the Spanish-American War and to the dependents of such persons, and the retirement of officers and enlisted men of the Regular Army, Navy, Marine Corps, or Coast Guard) are hereby repealed, and all laws granting or pertaining to yearly renewable term insurance are hereby repealed, but payments in accordance with such laws shall continue to the last day of the third calendar month following the month during which this Act is enacted. The Administrator of Veterans' Affairs under the general direction of the President shall immediately cause to be reviewed all allowed claims under the above referred to laws and where a person is found entitled under this Act, authorize payment or allowance of benefits in accordance with the provisions of this Act commencing with the first day of the fourth calendar month following the month during which this Act is enacted and notwithstanding the provisions of Section 9 of this Act, no further claim in such cases shall be required: Provided, That nothing contained in this section shall interfere with payments heretofore made or hereafter to be made under contracts of yearly renewable term insurance which have matured prior to the date of enactment of this Act and under which payments have been commenced, or on any judgment heretofore rendered in a court of competent jurisdiction in any suit on a contract of yearly renewable term insurance, or which may hereafter be rendered in any such suit now pending: Provided further, That, subject to such regulations as the President may prescribe, allowances may be granted for burial and funeral expenses and transportation of the bodies (including preparation of the bodies) of deceased veterans of any war to the places of burial thereof in a sum not to exceed $107 in any one case.

"The provisions of this title shall not apply to compensation or pension (except as to rates, time of entry into active service and special statutory allowances), being paid to veterans disabled, or dependents of veterans who died, as the result of disease or injury directly connected with active military or naval service (without benefit of statutory or regulatory presumption of service connection) pursuant to the provisions of the laws in effect on the date of enactment of this Act. The term ‘compensation or pension' as used in this paragraph shall not be construed to include emergency officers' retired pay referred to in section 10 of this title."

Now, Therefore, by virtue of the authority vested in me by said law the following regulation is hereby promulgated:

I. Yearly renewable term insurance in cases where the insured has disappeared and such insurance is being continued by payment of premiums as required by law may be converted into any form of level premium life or endowment insurance provided by the Government. Application for conversion, together with remittance to cover at least one monthly premium shall be filed with the Veterans' Administration within 31 days from the date of notice of this right. If any such insurance is not converted within the time prescribed all rights under such insurance shall cease and terminate.

II. When an insured under yearly renewable term insurance is receiving insurance benefits on account of a total permanent disability award and such award is terminated, the insured shall be entitled to convert the amount of such yearly renewable term insurance (commuted value of the remaining unpaid installments) into any form of level premium life or endowment insurance provided by the Government. Application for such conversion, together with a remittance to cover at least one monthly premium, shall be filed with the Veterans' Administration within 31 days from the date of notice of this right. Any yearly renewable term insurance in such cases that is not converted within the prescribed time shall cease and terminate. Paragraphs R-3141 and 3142 of Regulations & Procedure, Veterans' Administration (United States Veterans' Bureau) are hereby amended accordingly.

III. Payments under contracts of yearly renewable term insurance (including automatic insurance) wliich have matured, and under which payments have been commenced prior to March 20, 1933, or on any judgment heretofore rendered in a court of competent jurisdiction in any suit on a contract of yearly renewable term insurance (including automatic insurance), or which may hereafter be rendered in any such suit pending in court on March 20, 1933, may hereafter be made.

IV. Further payment of benefits on account of the death of an insured to whom yearly renewable term insurance (including automatic insurance) benefits have been awarded and are being paid in accordance with paragraph III of this regulation shall be made in accordance with the World War Veterans' Act, 1924, as amended, and precedents in effect thereunder.

V. Except as stated above, no payments may hereafter be made under contracts of yearly renewable term insurance (including automatic insurance) and all pending claims or claims hereafter filed for such benefits shall be disallowed.

FRANKLIN D. ROOSEVELT

March 31^st 1933
The White House.