All level premium term policies, except as otherwise provided in this section, shall cease and terminate at the expiration of the term period. At the expiration of any term period any five-year level premium term policy which has not been exchanged or converted to a permanent plan of insurance and which is not lapsed shall be renewed as level premium term insurance without application for a successive five-year period at the premium rate for the attained age without medical examination. However, renewal will be effected in cases where the policy is lapsed only if the insured makes application for reinstatement and renewal of the term policy within five years after the date of lapse, and reinstatement in such cases shall be under the terms and conditions prescribed by the Secretary. In any case in which the insured is shown by evidence satisfactory to the Secretary to be totally disabled at the expiration of the level premium term period of the insurance under conditions which would entitle the insured to continued insurance protection but for such expiration, the insurance, if subject to renewal under this section, shall be automatically renewed for an additional period of five years at the premium rate for the then attained age, unless the insured has elected insurance on some other available plan.
Pub. L. 85–85772 Stat. 1148 Pub. L. 91–291, § 884 Stat. 331 Pub. L. 99–576, title VII, § 701(22)100 Stat. 3292 Pub. L. 102–83105 Stat. 404–406 (, , , § 705; , , ; , , ; renumbered § 1905 and amended , §§ 4(b)(1), (2)(E), 5(a), , .)
Editorial Notes
Prior Provisions
Pub. L. 85–85772 Stat. 1216 Pub. L. 90–77, title II, § 204(b)81 Stat. 184 Pub. L. 91–666, § 2(a)84 Stat. 1998 Prior section 1905, , , ; , , , related to applications, prior to the general revision of chapter 39 of this title by , , .
Amendments
Pub. L. 102–83section 705 of this title1991— renumbered as this section and substituted “Secretary” for “Administrator” in two places.
Pub. L. 99–5761986— substituted “the” for “his” in three places and “the insured” for “him”.
Pub. L. 91–2911970— made it a requirement for renewal of lapsed policies that the insured make application for reinstatement and renewal of his term policy within five years after the date of lapse and struck out provision that the lapse occur within two months before the expiration of the term period.
Statutory Notes and Related Subsidiaries
Effective Date of 1970 Amendment
Pub. L. 91–291section 14(a) of Pub. L. 91–291section 1317 of this titleAmendment by effective , see , set out as a note under .