Initial Amount Of Insurance Law and Legal Definition

According to 38 CFR 8a.1 (Title 38 - Pensions, Bonuses, And Veterans' Relief; Chapter I - Department Of Veterans Affairs; Part 8a - Veterans Mortgage Life Insurance), initial amount of insurance means “the amount of insurance corresponding in amount to the unpaid principal of a mortgage loan outstanding on a housing unit owned or to be acquired by an eligible veteran on August 11, 1971, or on the date of approval of his or her grant made under chapter 21 of title 38 U.S.C., whichever is the later date.”