38 U.S.C. § 1967: Persons insured; amount

the member; and each insurable dependent of the member (other than a dependent who is also a member of a uniformed service and, because of such membership, is automatically insured under this paragraph). Any member of a uniformed service on active duty for training or inactive duty training scheduled in advance by competent authority. the member; and each insurable dependent of the member (other than a dependent who is also a member of a uniformed service and, because of such membership, is automatically insured under this paragraph). A member may elect in writing not to be insured under this subchapter. A member may elect in writing not to insure the member’s spouse under this subchapter. In the case of a member, $500,000. In the case of a member’s spouse, $100,000. In the case of a member’s child, $10,000. A member may elect in writing to be insured or to insure the member’s spouse in an amount less than the amount provided for under subparagraph (A). The member may not elect to insure the member’s child in an amount less than $10,000. The amount of insurance so elected shall, in the case of a member, be evenly divisible by $50,000 and, in the case of a member’s spouse, be evenly divisible by $10,000. In no case may the amount of insurance coverage under this subsection of a member’s spouse exceed the amount of insurance coverage of the member. shall be insured under this subchapter for the maximum amount provided under subparagraph (A) for the period of such deployment; and shall be insured in the amount elected by the member under subparagraph (B); or shall not be insured, if so elected under paragraph (2)(A). An insurable dependent of a member is not insured under this chapter unless the member is insured under this subchapter. An insurable dependent who is a child may not be insured at any time by the insurance coverage under this chapter of more than one member. If an insurable dependent who is a child is otherwise eligible to be insured by the coverage of more than one member under this chapter, the child shall be insured by the coverage of the member whose eligibility for insurance under this subchapter occurred first, except that if that member does not have legal custody of the child, the child shall be insured by the coverage of the member who has legal custody of the child. The first day of active duty or active duty for training. The beginning of a period of inactive duty training scheduled in advance by competent authority. The first day a member of the Ready Reserve meets the qualifications set forth in subparagraph (B) or (C) of section 1965(5) of this title . The date certified by the Secretary to the Secretary concerned as the date Servicemembers’ Group Life Insurance under this subchapter for the class or group concerned takes effect. In the case of an insurable dependent who is a spouse, the date of marriage of the spouse to the member. In the case of an insurable dependent who is a child, the date of birth of such child or, if the child is not the natural child of the member, the date on which the child acquires status as an insurable dependent of the member. who, when authorized or required by competent authority, assumes an obligation to perform (for less than thirty-one days) active duty, or active duty for training, or inactive duty training scheduled in advance by competent authority; and who is rendered uninsurable at standard premium rates according to the good health standards approved by the Secretary, or dies within one hundred and twenty days thereafter, from a disability, or aggravation of a preexisting disability, incurred by such member while proceeding directly to or returning directly from such active duty, active duty for training, or inactive duty training as the case may be; If a person eligible for insurance under this subchapter is not so insured, or is insured for less than the maximum amount provided for the person under subparagraph (A) of subsection (a)(3), by reason of an election made by a member under subparagraph (B) of that subsection, the person may thereafter be insured under this subchapter in the maximum amount or any lesser amount elected as provided in such subparagraph (B) upon written application by the member, proof of good health of each person (other than a child) to be so insured, and compliance with such other terms and conditions as may be prescribed by the Secretary. Any former member insured under Veterans’ Group Life Insurance who again becomes eligible for Servicemembers’ Group Life Insurance and declines such coverage solely for the purpose of maintaining such member’s Veterans’ Group Life Insurance in effect shall upon termination of coverage under Veterans’ Group Life Insurance be automatically insured under Servicemembers’ Group Life Insurance, if otherwise eligible therefor. the purpose and role of life insurance in financial planning; the difference between term life insurance and whole life insurance; the availability of commercial life insurance; and the relationship between Servicemembers’ Group Life Insurance and Veterans’ Group Life Insurance. The effective date and time for any change in benefits under the Servicemembers’ Group Life Insurance Program shall be based on the date and time according to the time zone immediately west of the International Date Line. If a member who is married and who is eligible for insurance under this section makes an election under subsection (a)(2)(A) not to be insured under this subchapter, the Secretary concerned shall notify the member’s spouse, in writing, of that election. in the case of the first such election; and in the case of any subsequent such election if the effect of such election is to reduce the amount of insurance coverage of the member from that in effect immediately before such election. In the case of a member who is married and who is insured under this section, if the member makes a designation under section 1970(a) of this title of any person other than the spouse or a child of the member as the beneficiary of the member for any amount of insurance under this subchapter, the Secretary concerned shall notify the member’s spouse, in writing, that such a beneficiary designation has been made by the member, except that such a notification is not required if the spouse has previously received such a notification under this paragraph and if immediately before the new designation by the member under section 1970(a) of this title the spouse is not a designated beneficiary of the member for any amount of insurance under this subchapter. A notification required by this subsection is satisfied by a good faith effort to provide the required information to the spouse at the last address of the spouse in the records of the Secretary concerned. Failure to provide a notification required under this subsection in a timely manner does not affect the validity of any election specified in paragraph (1) or (2) or beneficiary designation specified in paragraph (3). the date that is 60 days after the date of the enactment of this Act [ Oct. 17, 2022 ]; or the amount for which a member will be insured pursuant to the amendment made by subsection (a) and the premiums for such amount are administratively and actuarially sound for the Servicemembers’ Group Life Insurance program under subchapter III of chapter 19 of title 38, United States Code, and the Veterans’ Group Life Insurance program under section 1977 of such title; and the increase in such amount carried out pursuant to the amendment will not result in such programs operating at a loss.” Notwithstanding subsection (c) of section 312 of the Veterans Benefits and Health Care Improvement Act of 2000 ( Public Law 106–419 ; 114 Stat. 1854 ) [set out as a note below], the amendments made by subsection (a) of that section [amending this section] shall take effect on October 1, 2000 , with respect to any member of the uniformed services who died in the performance of duty (as determined by the Secretary concerned) during the period beginning on October 1, 2000 , and ending at the close of March 31, 2001 , and who on the date of death was insured under the Servicemembers’ Group Life Insurance program under subchapter III of chapter 19 of title 38, United States Code, for the maximum coverage available under that program. The term ‘Secretary concerned’ has the meaning given that term in section 101(25) of title 38 , United States Code. The term ‘uniformed services’ has the meaning given that term in section 1965(6) of title 38 , United States Code.” Except as provided in paragraph (2), the amendments made by subsections (a) and (b) [amending this section and section 777 [now 1977] of this title] shall take effect on January 1, 1986 . died after December 11, 1985 , and before January 1, 1986 ; and were, on the date of death, insured in the amount of $35,000 under subchapter III of chapter 19 of title 38, United States Code.”