Skip Main Navigation Skip To Navigation Content

Federal, State, and Local Governments
Government Finance and Employment Classification Manual
DESCRIPTIONS OF FUNCTIONAL CATEGORIES
 
__
__


FUNCTION CODE:   Y34 NAME:    Veterans' Life Insurance (Federal Only)
SECTOR:    General APPLIES TO:    Finance |X|    Employment | |
PUBLICATION CATEGORIES:    Insurance Trusts
DEFINITION:    Distribution of cash benefits and dividends to eligible veterans and their beneficiaries under Federal-administered veterans' life insurance programs.
EXAMPLES:   Death claims to beneficiaries; cash values of surrendered policies; distribution of excess earnings and related interest (dividends); disability claims or income payments under veterans' life insurance policies; and matured endowments. Comprises activities of National Service Life Insurance Fund as well as the Veterans Special Life Insurance Fund, Veterans Reopened Insurance Fund, US Government Life Insurance Fund, and others administered by the U.S. Department of Veterans Affairs.
EXCLUSIONS:   Loans to policyholders borrowing against cash value of their policies; Federal Government contributions to these funds; purchase of securities (the preceding are nonexpenditures); Federal payments as employer contributions for group life insurance for its employees (report as current operation expenditure of function involved); administration of these life insurance programs (report at Other Veterans Services, code 85); and burial benefits not paid out of veterans' life insurance funds (use code 85).
REFERENCES: - To be added later -
 
OTHER NOTES:   This function applies soles to Federal Government expenditure; report any related employment data at Other and Unallocable, code 89.
 
DETAILED CODE LIST WITH COVERAGE OF DATA COLLECTION*
 
  General Purpose Governments
EXPENDITURES, DIRECT: Federal StateD.C. Large City-County Other LocalSpecial District
Y34 Benefits Y NN N NN
 
* Shows whether data are collected (Y) or not (N) for that type.

__