Sec. 405. POLICY RESTRICTIONS
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## SEC. 405 POLICY RESTRICTIONS **[**[50 U.S.C. 3975](/us/usc/t50/s3975)**]** ###
(a)Dividends While a policy is protected under this title, a dividend or other monetary benefit under a policy may not be paid to an insured or used to purchase dividend additions without the approval of the Secretary of Veterans Affairs. If such approval is not obtained, the dividends or benefits shall be added to the value of the policy to be used as a credit when final settlement is made with the insurer. ###
(b)Specific Restrictions While a policy is protected under this title, cash value, loan value, withdrawal of dividend accumulation, unearned premiums, or other value of similar character may not be available to the insured without the approval of the Secretary. The right of the insured to change a beneficiary designation or select an optional settlement for a beneficiary shall not be affected by the provisions of this title.
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Sec. 405
POLICY RESTRICTIONS
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