§ 1943. Premiums

Type Statute

Publication 2024-12-03

State In force

Department United States Congress

Source OLRC

§ 1943. Premiums

The premium rates for insurance shall be the net rates based upon the American Experience Table of Mortality and interest at 3½ percent per annum. Regulations shall prescribe the time and method of payment of premiums, but payments of premiums in advance shall not be required for periods of more than one month each, and may be deducted from the pay or deposit of the insured or be otherwise made at the insured’s election.

(Pub. L. 85–857, Sept. 2, 1958, 72 Stat. 1158, § 743; Pub. L. 97–295, § 4(26), Oct. 12, 1982, 96 Stat. 1307; Pub. L. 99–576, title VII, § 701(30), Oct. 28, 1986, 100 Stat. 3293; renumbered § 1943, Pub. L. 102–83, § 5(a), Aug. 6, 1991, 105 Stat. 406.)

Editorial Notes

Amendments

1991—Pub. L. 102–83 renumbered section 743 of this title as this section.

1986—Pub. L. 99–576 substituted “the insured’s” for “his”.

1982—Pub. L. 97–295 substituted “percent” for “per centum”.

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