Veterans Insurance Act (R.S.C. 1970, c. V-3)

Marginal note:Terms for payment of premiums

• 10 (1) The contract of insurance may provide for payment of premiums during the lifetime of the insured for a period of ten, fifteen or twenty years or until the anniversary of the policy nearest the sixty-fifth or eighty-fifth birthday of the insured.

• Marginal note:Premiums as provided in Schedule A

  (2) The premiums payable under the various plans of contract shall be as provided for in Schedule A.

Marginal note:Refusal to insure

11 The Minister may refuse to enter into a contract of insurance in any case where there are in his opinion sufficient grounds for so doing but, in the exercise of the powers conferred upon him by this section, the Minister shall be governed by Schedule B and he may require for this purpose that the applicant shall submit himself to medical examination or shall furnish such other information as the Minister may require.

Marginal note:Insurance money unassignable etc.

12 The insurance money payable under the contract of insurance is unassignable and is not subject to the claims of creditors of the insured or of the beneficiary.

Marginal note:Death of applicant before completion of contract

13 Where an application for insurance is made and the applicant dies before the contract of insurance is entered into, the contract shall be deemed to have been entered into if the initial premium is paid and the application is one that would have been approved if the applicant had not died.

Marginal note:Payment to estate or succession of deceased beneficiary

14 Where a beneficiary or contingent beneficiary survives the insured but dies before receiving all of the insurance money to which under the contract of insurance such beneficiary or contingent beneficiary is entitled, the remaining unpaid money shall be paid, as it falls due or otherwise as the Minister may determine, to the estate or succession of the deceased beneficiary or deceased contingent beneficiary.

Marginal note:When insured treated as if dead

• 14.1 (1) If the death of the insured has not been proved in accordance with the regulations made under paragraph 16(b) but the Minister is satisfied, after efforts satisfactory to the Minister have been made, that the insured has died or cannot be located, the Minister shall, subject to this section, apply this Act as if the insured had died on a date specified by the Minister.

• Marginal note:Definition of Ministerial payment

  (2) In subsection (3), Ministerial payment means an amount of insurance money that is payable by virtue of the operation of subsection (1) and would not be payable in the absence of its operation.

• Marginal note:Agreement to repay Minister

  (3) The Minister shall not make a Ministerial payment unless the person to whom that payment is to be made agrees in writing, in such form as is prescribed by the Minister, to repay to the Minister the amount of that payment in the event that the insured referred to in subsection (1) is subsequently determined by the Minister to be alive.

Marginal note:When beneficiary or contingent beneficiary treated as if dead

• 14.2 (1) If, after the insured’s death, the death of a beneficiary or contingent beneficiary has not been proved in accordance with the regulations made under paragraph 16(b) but the Minister is satisfied, after efforts satisfactory to the Minister have been made, that that beneficiary or contingent beneficiary died within the insured’s lifetime or cannot be located, the Minister shall, subject to this section, apply this Act as if that beneficiary or contingent beneficiary had died within the insured’s lifetime.

• Marginal note:Definition of Ministerial payment

  (2) In subsection (3), Ministerial payment means an amount of insurance money that is payable by virtue of the operation of subsection (1) and would not be payable in the absence of its operation.

• Marginal note:Agreement to repay Minister

  (3) The Minister shall not make a Ministerial payment unless the person to whom that payment is to be made agrees in writing, in such form as is prescribed by the Minister, to repay to the Minister the amount of that payment in the event that the beneficiary or contingent beneficiary referred to in subsection (1) is subsequently determined by the Minister to be alive.

Marginal note:Insured or beneficiary may be Member of Parliament

15 Notwithstanding the Senate and House of Commons Act, or any other law, no person, by reason only of his entering into a contract of insurance or receiving a benefit under this Act, is liable to any forfeiture or penalty imposed by the Senate and House of Commons Act or disqualified as a member of the House of Commons or incapable of being elected to, or of sitting or voting in the House of Commons.

Marginal note:Regulations

16 The Governor in Council may make regulations

• (a) prescribing the form of contracts and such other forms as he may consider necessary under this Act;

• (b) prescribing the mode of proving the age, identity and existence or death of persons;

• (c) prescribing the mode of paying money under contracts of insurance;

• (d) for dispensing with the production of letters probate or letters of administration, either generally or in any particular case or class of cases;

• (e) prescribing the accounts to be kept and their management;

• (f) respecting the cases or classes of cases in which a contract of insurance may be surrendered and a cash surrender value paid therefor, or a paid-up contract of insurance issued instead thereof, and for prescribing the manner in which such cash surrender value or amount of paid-up insurance shall be determined;

• (g) prescribing the cases, not otherwise provided for in this Act, in which a person not originally named as, but who is eligible under this Act to be a beneficiary, may be made a beneficiary;

• (h) prescribing the cases, not otherwise provided for in this Act, in which an apportionment of the insurance money may be made or varied;

• (i) prescribing the class or classes of persons other than those mentioned in sections 6 and 7 who are entitled to be beneficiaries;

• (j) prescribing the cases in which a dependant, other than the spouse, common-law partner or child of the insured, may be named as a beneficiary under the contract;

• (k) prescribing, in cases not otherwise provided for by the contract of insurance or by declaration or by this Act, the person or persons entitled to whom the instalments, if any, of insurance money remaining unpaid at the death of a beneficiary shall be paid; and

• (l) for any other purpose for which it is deemed expedient to make regulations in order to carry this Act into effect.

Marginal note:C.R.F.

17 The moneys received under this Act form part of the Consolidated Revenue Fund, and the moneys payable under this Act are payable out of the said Fund.

Marginal note:Annual statement

• 18 (1) The Minister shall cause a statement to be prepared within three months after the end of each fiscal year showing

  • (a) the premiums received during the fiscal year;

  • (b) the insurance moneys paid during the fiscal year;

  • (c) the number and amount of contracts entered into during the fiscal year;

  • (d) the number and amount of contracts in force at the end of the fiscal year; and

  • (e) such further information as the Minister deems advisable.

• Marginal note:To be laid before Parliament

  (2) Every such statement shall be laid before Parliament as soon as may be after it is prepared.