EXCLUSION OF LIFE INSURANCE PROCEEDS FROM CONSIDERATION AS INCOME FOR VETERANS’ PENSION PURPOSES.

SEC. 303. EXCLUSION OF LIFE INSURANCE PROCEEDS FROM CONSIDERATION AS INCOME FOR VETERANS’ PENSION PURPOSES. Section 1503(a) is amended—(1) by striking “and” at the end of paragraph (9);(2) by striking the period at the end of the paragraph (10) and inserting “; and”; and(3) by adding at the end the following new paragraph:“(11) lump-sum proceeds of any life insurance policy on a veteran, for purposes of pension under subchapter III of this chapter.”.