112 STAT. 3332 PUBLIC LAW 105-368—NOV. 11, 1998 38 USC 4324 (b) EFFECTIVE DATE.— The amendment made by subsection (a) note. shall apply to complaints filed with the Merit Systems Protection Board on or after October 13, 1994. TITLE III—COMPENSATION, PENSION, AND INSURANCE SEC. 301. MEDAL OF HONOR SPECIAL PENSION. (a) INCREASE. — Section 1562(a) is amended by striking "$400" and inserting "$600". 38 USC 1562 (b) EFFECTIVE DATE. —The amendment made by subsection (a) note. shall take effect on the first day of the first month beginning on or after the date of the enactment of this Act. SEC. 302. ACCELERATED DEATH BENEFIT FOR SERVICEMEMBERS' GROUP LIFE INSURANCE AND VETERANS' GROUP LIFE INSURANCE PARTICIPANTS. (a) IN GENERAL. —(1) Subchapter III of chapter 19 is amended by adding at the end the following new section:
- § 1980. Option to receive accelerated death benefit
"(a) For the purpose of this section, a person shall be considered to be terminally ill if the person has a medical prognosis such that the life expectancy of the person is less than a period prescribed by the Secretary. The maximum length of such period may not exceed 12 months. "(b)(1) A terminally ill person insured under Servicemembers' Group Life Insurance or Veterans' Group Life Insurance may elect to receive in a lump-sum payment a portion of the face value of the insurance as an accelerated death benefit reduced by an amount necessary to assure that there is no increase in the actuarial value of the benefit paid, as determined by the Secretary. "(2) The Secretary shall prescribe the maximum amount of the accelerated death benefit available under this section that the Secretary finds to be administratively practicable and actuarially sound, but in no event may the amount of the benefit exceed the amount equal to 50 percent of the face value of the person's insurance in force on the date the election of the person to receive the benefit is approved. "(3) A person making an election under this section may elect to receive an amount that is less than the maximum amount prescribed under paragraph (2). The Secretary shall prescribe the increments in which a reduced amount under this paragraph may be elected. "(c) The portion of the face value of insurance which is not paid in a lump sum as an accelerated death benefit under this section shall remain payable in accordance with the provisions of this chapter. "(d) Deductions under section 1969 of this title and premiums under section 1977(c) of this title shall be reduced, in a manner consistent with the percentage reduction in the face value of the insurance as a result of payment of an accelerated death benefit under this section, effective with respect to any amounts which would otherwise become due on or after the date of payment under this section.
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