StacksVerified U.S. regulatory reference

38 CFR §6.9

Verified against eCFR.gov as of June 20, 2026View official text on eCFR.gov ↗
If the insured has selected an optional settlement then at the death of the insured the designated beneficiary may elect to receive the proceeds of insurance in installments spread over a greater period of time than that selected by the insured and in accordance with the following provisions.
  1. (a)If the insured has selected Option 1, the beneficiary may elect to receive payment under Option 2, 3, or 4.
  2. (b)If the insured has selected Option 2 with monthly installments not in excess of 120, the beneficiary may elect to receive payment in a greater number of installments under Option 2, or may elect to receive payment under Option 3 or 4.
  3. (c)If the insured has selected Option 2 with monthly installments in excess of 120, the beneficiary may elect to receive payment in a greater number of installments under Option 2, or may elect to receive payment under Option 3.
  4. (d)If the insured has selected Option 3, and named no contingent beneficiary, the beneficiary may elect to receive payment under Option 4.
  5. (e)If the insured has selected Option 4, the beneficiary may elect to receive payment under Option 3.