2024-23059. Agency Information Collection Activity Under OMB Review: Application by Insured Terminally Ill Person for Accelerated Benefit

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Department of Veterans Affairs

1. [OMB Control No. 2900-0618]

AGENCY:

Veterans Benefits Administration, Department of Veterans Affairs.

ACTION:

Notice.

SUMMARY:

In compliance with the Paperwork Reduction Act (PRA) of 1995, this notice announces that the Veterans Benefits Administration, Department of Veterans Affairs, will submit the collection of information abstracted below to the Office of Management and Budget (OMB) for review and comment. The PRA submission describes the nature of the information collection and its expected cost and burden, and it includes the actual data collection instrument.

DATES:

Comments and recommendations for the proposed information collection should be sent by November 6, 2024.

ADDRESSES:

To submit comments and recommendations for the proposed information collection, please type the following link into your browser: www.reginfo.gov/​public/​do/​PRAMain, select “Currently under Review—Open for Public Comments”, then search the list for the information collection by Title or “OMB Control No. 2900-0618.”

FOR FURTHER INFORMATION CONTACT:

VA PRA information: Maribel Aponte, [phone], [e-mail].

SUPPLEMENTARY INFORMATION:

Title: Application by Insured Terminally Ill Person for Accelerated ( print page 81154) Benefit Forms SGLV 8284 and SGLV 8284A.

OMB Control Number: 2900-0618 https://www.reginfo.gov/​public/​do/​PRASearch

Type of Review: Extension of a currently approved collection.

Abstract: VA has amended regulations for the Servicemembers' Group Life Insurance (SGLI) and Veterans' Group Life Insurance (VGLI) programs to add accelerated death benefit (Accelerated Benefit) provisions that permit terminally ill policyholders access to the death benefits of their policies before they die. Traditionally, an individual purchases life insurance in order to safeguard his or her dependents against major financial loss due to his or her death. Life insurance serves to replace the lost income of an insured and to provide for his or her final expenses. In recent years, the insurance industry has recognized the financial needs of terminally ill policyholders and has begun offering policies with accelerated benefit provisions. A recent statutory amendment (section 302 of the Veterans Programs Enhancement Act of 1998, Public Law 105-368, 112 Stat. 3315, 3332-3333) added section 1980 to title 38, United States Code, which extends an accelerated benefit option to terminally ill persons insured in the SGLI and VGLI programs.

An agency may not conduct or sponsor, and a person is not required to respond to a collection of information unless it displays a currently valid OMB control number. The Federal Register Notice with a 60-day comment period soliciting comments on this collection of information was published at 89 FR 63254, August 2, 2024.

Affected Public: Individuals or Households.

Estimated Annual Burden: 40 hours.

Estimated Average Burden per Respondent: 12 minutes.

Frequency of Response: One time.

Estimated Number of Respondents: 200.

Authority:44 U.S.C. 3501 et seq.

Maribel Aponte,

VA PRA Clearance Officer, Office of Enterprise and Integration, Data Governance Analytics, Department of Veterans Affairs.