Legal Definitions - national-service life insurance

National-Service Life Insurance is a type of life insurance available to active members of the U.S. military since October 8, 1940. It is regulated by the Administrator of Veterans Affairs and offers favorable rates to military personnel.

For example, if a soldier purchases National-Service Life Insurance and dies while on active duty, the designated beneficiary will receive a specified amount of money from the insurance company.

This type of insurance was established by the National Service Life Insurance Act of 1940 to provide financial protection to military personnel and their families. It is one of many types of life insurance available to individuals and organizations.