Page:United States Statutes at Large Volume 56 Part 1.djvu/802

 nal or beneficial association, which does not provide for the payment of any sum less than the face value thereof or for the payment of an additional amount as premiums if the insured engages in the 54 tat. 1179. military service of the United States as defined in section 101 of 50 U. S. C., app. 51. Cap article I of this Act or which does not contain any limitation or restriction upon coverage relating to engagement in or pursuit of certain types of activities which a person might be required to engage in by virtue of his being in such military service, and (1) which is in force on a premium-paying basis at the time of applica- tion for benefits hereunder, and (2) which was made and a premium paid thereon before the date of enactment of the Soldiers' and Sailors' Civil Relief Act Amendments of 1942 or not less than thirty days before the date the insured entered into the military service. The provisions of this Act shall not be applicable to policies or 38 Stat. 711; 43 Stat. contracts of life insurance issued under the War Risk Insurance 407; 54 Stat. Act8t s uS.sc. t 287, Act, as amended, the World War Veterans Act, as amended, or the 37, 02, 575;chs. 10. National Service Life Insurance Act of 1940, as amended. A13',pp. 2.83 "(b) The term 'premium' shall include the amount specified in the iTm 7. 96 policy as the stipend to be paid by the insured at regular intervals during the period therein stated. "Insured." "(c) The term 'insured' shall include any person in the military 54 Stat. 1179. 50 U. s .c ., app. service of the United States as defined in section 101, article I, of Ante, p. 282. this Act, whose life is insured under and who is the owner and holder of and has an interest in a policy as above defined. "Insurer." "(d) The term 'insurer' shall include any firm, corporation, part- nership, or association chartered or authorized to engage in the insur- ance business and to issue a policy as above defined by the laws of a State of the United States or the United States. Persons entitled to "SEO. 401. The benefits and privileges of this article shall apply to benefits. any insured, when such insured, or a person designated by him, or, in case the insured is outside the continental United States (excluding Alaska and the Panama Canal Zone), a beneficiary, shall make written application for protection under this article, unless the Adminis- trator of Veterans' Affairs in passing upon such application as pro- vided in this article shall find that the policy is not entitled to protec- Notice to military tion hereunder. The Veterans' Administration shall give notice to and navalauthorites. the military and naval authorities of the provisions of this article, and shall include in such notice an explanation of such provisions for the information of those desiring to make application for the benefits thereof. The original of such application shall be sent by the insured to the insurer, and a copy thereof to the Veterans' Admin- Maximum amount istration. The total amount of insurance on the life of one insured under policies protected by the provisions of this article shall not exceed $10,000. If an insured makes application for protection of policies on his life totaling insurance in excess of $10,000, the Admin- istrator is authorized to have the amount of insurance divided into two or more policies so that the protection of this article may be extended to include policies for a total amount of insurance not to exceed $10,000, and a policy which affords the best security to the Government shall be given preference. torms of applica- "SEC. 402. Any writing signed by the insured and identifying the n policy and the insurer, and agreeing that his rights under the policy are subject to and modified by the provisions of this article, shall be sufficient as an application for the benefits of this article, but the Veterans' Administration may require the insured and insurer to execute such other forms as may be deemed advisable. Upon receipt of the application of the insured the insurer shall furnish such report to the Veterans' Administration concerning the policy PUBLIC LAWS-CH. 581-OCT. 6, 1942 [56 STAT. 774

�