Veterans' Mortgage Life Insurance-Coverage Amendment
VA · va-other · Published 2017-10-19 · Effective 2017-10-19 · 82 FR 48630
Document
Document number
2017-22667
Federal Register citation
82 FR 48630
CFR reference
38 CFR 8
Type
Rule
Action
Final rule.
Category
va-other
Agency
US Department of Veterans Affairs
Publication date
2017-10-19
Effective date
2017-10-19
Abstract
This document amends Department of Veterans Affairs (VA) regulations governing the Veterans' Mortgage Life Insurance (VMLI) program in order to provide VMLI-eligible individuals the option to lower their premiums by purchasing less than the minimum coverage amount required under current VA regulations. The final rule also amends current VA regulations to reflect that the statutory maximum amount of coverage available under the VMLI program was previously increased to $200,000, to define the term "eligible individual," and to clarify that eligibility for VMLI coverage has been extended to include servicemembers as well as veterans.