A bill to amend chapter 19 of title 38, United States Code, to permit the unrestricted assignment of a beneficiary's interest in the proceeds of a Government Life Insurance policy in cases involving contested claims, and to increase the amount an attorney may receive for representing a claimant in such cases; to authorize the Administrator to use a flexible interest rate in cases where the beneficiary of Government Life Insurance receives the proceeds of such insurance under certain settlement options; and for other purposes.
Veterans Insurance Amendments Act - Title I: Assignments and Attorney's Fees - Permits unrestricted assignment by beneficiaries of National Service Life Insurance and United States Government Life Insurance policy proceeds in cases with conflicting claimants. Permits attorney's fees to be paid from such assignment. Increases the amount of attorney's fees in other insurance cases from 10 percent to 25 percent of the judgment. Directs the court to determine a reasonable attorney's fee in specified cases where the insurance proceeds were paid prior to litigation.
Title II: Flexible Interest Rates - Permits payment of interest at flexible rates on proceeds paid on National Service Life Insurance and United States Government Life Insurance policies in installment settlements.
Title III: Effective Date - Provides that the effective date of the amendments made by this Act will be the date of enactment.
Referred to Senate Committee on Veterans' Affairs.
Introduced in House
Introduced in House
Referred to House Committee on Veterans' Affairs.
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