If no beneficiary of insurance is designated by the insured, either while alive or by last will, or if the designated beneficiary does not survive the insured, then there shall be paid to the estate of the insured the present value of the remaining unpaid monthly installments. If the designated beneficiary survives the insured and dies before receiving all of the installments of insurance payable and applicable, then there shall be paid to the estate of such beneficiary the present value of the remaining unpaid monthly installments. No payments shall be made to any estate which under the laws of the residence of the insured or the beneficiary, as the case may be, would escheat, but same shall escheat to the United States and be credited to the United States Government Life Insurance Fund.
1991—Pub. L. 102–83renumbered section
750 of this title as this section.
1986—Pub. L. 99–576substituted “while alive or by last will” for “in his lifetime or by his last will and testament”.
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The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
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