§ 541. Definitions
The term “policy” means any individual contract for whole, endowment, universal, or term life insurance (other than group term life insurance coverage), including any benefit in the nature of such insurance arising out of membership in any fraternal or beneficial association which—
(A) provides that the insurer may not—
(i) decrease the amount of coverage or require the payment of an additional amount as premiums if the insured engages in military service (except increases in premiums in individual term insurance based upon age); or
The term “premium” means the amount specified in an insurance policy to be paid to keep the policy in force.
Prev | Next
LII has no control over and does not endorse any external Internet site that contains links to or references LII.