Public Law 84–193

That the first proviso of section 622 of the National Service Life Insurance Act of 1940 (54 Stat. 1008), as added by section 10 of the Insurance Act of 1951 (65 Stat. 36), is amended to read as follows: “Provided, That no premium shall be waived under this section for any period before the date of application therefor, except that if the insured is determined, us provided in the Missing Persons Act (56 Stat. 143), as amended, to have

50 USC app. 1001 note.

been in a status of missing, missing in action, interned, captured, beleaguered, or besieged, at any time after April 25, 1951, and before April 26, 1952, (A) all premiums due or paid after June 1, 1951, on live-year level premium term insurance shall, during the period of such status and during the remainder of his continuous active service and one hundred and twenty days thereafter, be waived unless the insured requests in writing that this waiver be terminated; and (B) that portion of any permanent insurance premiums due or paid after June 1, 1951, which represents the cost of the pure insurance risk shall, during the period of such status and during the remainder of his continuous active service and one hundred and twenty days thereafter, be waived if the insured applies therefor within one hundred and twenty days after the date of enactment of this clause or the date of his return to military jurisdiction, whichever is later, or if the insured dies or is declared dead while in such missing status or if the insured dies on or prior to the last day upon which he may apply for such waiver under this clause, except that premiums shall not be automatically waived with respect to any policy where the amount of the dividend earned would exceed the amount of the premium waived:”.

Sec. 2.

The third proviso of section 622 of the National Service Life Insurance Act of 1940 (54 Stat. 1008), as added by section 10 of the Insurance Act of 1951 (65 Stat. 36) is amended to read as follows: “Provided further, That premium waiver benefits under this section render the contract of insurance nonparticipating during the period a premium waiver is in effect:”.