(1) POLICY- 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
(ii) limit or restrict coverage for any activity required by military
service; and
(B) is in force not less than 180 days before the date of the insured's
entry into military service and at the time of application under this
title.
(2) PREMIUM- The term `premium' means the amount specified in an insurance
policy to be paid to keep the policy in force.
(3) INSURED- The term `insured' means a servicemember whose life is
insured under a policy.
(4) INSURER- The term `insurer' includes any firm, corporation, partnership,
association, or business that is chartered or authorized to provide insurance
and issue contracts or policies by the laws of a State or the United
States.
| 