50a U.S. Code Rule - Definitions
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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.
Source(Oct. 17, 1940, ch. 888, title IV, § 401, as added Pub. L. 108–189, § 1,Dec. 19, 2003, 117 Stat. 2851.)
A prior section 541, acts Oct. 17, 1940, ch. 888, art. IV, § 401,54 Stat. 1183; Oct. 6, 1942, ch. 581, § 13,56 Stat. 774; Pub. L. 102–12, § 9(12),Mar. 18, 1991, 105 Stat. 40, related to persons entitled to benefits of former article IV of this Act, applications, and amount of insurance protected, prior to the general amendment of this Act by Pub. L. 108–189. See section 542 of this Appendix.
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