TABLES OF INSTALLMENTS WHEN OPTION SELECTED PROVIDES MONTHLY PAYMENTS OF LESS THAN $10

§ 8.80a Payment to a beneficiary where the monthly installment of participating National Service Life Insurance and nonparticipating insurance issued under section 602(c)(2) of the National Service Life Insurance Act, as amended, on which the requirements of good health were waived, is less than $10 under the option selected.

Where payment is to be made in 12 or 24 monthly installments (see §8.77(a)(5)), the amount of each monthly installment will be paid in accordance with the following table:

375

2.67

372

2.69

368

2.72

364

2.75

362

2.77

358

2.80

354

2.83

350

2.86

347

2.89

343

2.92

Option 4. Refund life income. The amount of the installments noted below will be payable monthly throughout the lifetime of the designated beneficiary, but, if such beneficiary dies before payment of the number of installments certain noted below, the remaining unpaid monthly installments payable for such period certain as may be required in order that the sum of the installments certain (including a last installment of such reduced amount as may be necessary) shall equal the face value of the contract less any indebtedness, will be payable as provided in §§ 8.89, 8.90, or 8.91, whichever may be applicable. The law does not authorize settlement under this option in any case in which less than 120 installments may be paid; if a beneficiary is 77 or more years of age at the time of the death of the insured, payment will be made as provided in option 3.

OPTION 4

229

4.38

225

4.46

220

4:56

74

76

123

8.16

$8.81 Optional settlements on insurance issued under the provisions of section 1925 of title 38 U.S.C.

The optional settlements under a National Service Life Insurance policy issued under the provisions of 38 U.S.C. 1925 are as follows:

Option 1. Insurance payable in one sum. Settlement under this option will be made only when selected by the insured during his or her lifetime or by his or her last will and testament, or if no option has been selected by the insured and he or she dies after September 30, 1981. When such election has been made, the face amount (less any indebtedness) will be payable in ore sum upon the death of the insured.

Option 3. Insurance payable in installments throughout life. The monthly installments noted below will be payable throughout the lifetime of the designated beneficiary, but, if such beneficiary dies before 120 of such installments have been paid, the remaining unpaid monthly installments will be payable as provided in §8.89, §8.90, or §8.91, whichever may be applicable: