N.Y. Military Law Section 316
Policies of insurance

  • policies not to lapse or be forfeited

1.

No policy which insures the life of a member of a reserve component of the armed forces of the United States, including the National Guard, who is called to active duty, or no policy which has been brought within the benefits of the federal “soldiers’ and sailors’ civil relief act” shall lapse or be forfeited for the nonpayment of premium during the period of such service, or during two years after the expiration of such period; provided that any such policy has not lapsed for the nonpayment of premium before the commencement of the period of military service of the insured, provided that in no case shall this prohibition extend for more than one year after this article ceases to be in force.

2.

For the purposes of this section, the term “policy” shall include any contract of life insurance as defined in paragraph one of subsection (a) of Insurance Law § 1113 (Kinds of insurance authorized)section one thousand one hundred thirteen of the insurance law. It shall also include any benefit in the nature of life insurance arising out of membership in any fraternal benefit society as defined in subsection (a) of Insurance Law § 4501 (Definitions)section four thousand five hundred one of the insurance law. In no case, however, shall the term “policy” include insurance exceeding a total face value of one hundred thousand dollars whether in one or more companies, but shall not include a policy insured under Servicemen’s Group Life Insurance. The term “premium” shall include membership dues or assessments in such society, and the date of issuance of policy as herein limited shall refer to the date of admission to membership in such association; the term “insured” shall include any person who is the holder of a policy as defined in this section; the term “insurer” shall include any corporation, partnership, or other form of association which secures or provides insurance under any policy as defined herein.

3.

No individual accident and health insurance policy, defined in paragraph three of subsection (a) of Insurance Law § 1113 (Kinds of insurance authorized)section one thousand one hundred thirteen of the insurance law, which policy insures a member of the organized militia of the state, and has not lapsed for the non-payment of premiums before the commencement of a period of active duty in the military service of the state of New York by such member, pursuant to an order of the governor issued under the authority of section six or seven of this chapter, shall lapse or be forfeited for the non-payment of premiums during a period of sixty days from the date that said member begins such active duty provided the insurer is furnished with written notice of said duty within thirty days after the commencement thereof. An insurer shall have the right to deduct the amount of due and unpaid premiums from any benefit that may become payable as a result of this subdivision.

Source: Section 316 — Policies of insurance; policies not to lapse or be forfeited, https://www.­nysenate.­gov/legislation/laws/MIL/316 (updated Sep. 22, 2014; accessed Mar. 23, 2024).

300
Findings and declaration of emergency
301
Definitions
301–A
Notice of benefits to persons in and persons enlisting in the state organized militia
301–B
Extension of benefits to dependents
301–C
Accident prevention course information
302
Stay, et cetera, to persons secondarily liable
303
Representation
304
Proceedings to be stayed unless interest unaffected by military service
305
Relief against fines and penalties, et cetera
306
Actions against persons in service
307
Continuance of stay, et cetera
308
Statutes of limitations and statutes of a similar nature
308–A
Waiver of professional continuing education requirements
308–B
Extension of license, certificate or registration
309
Evictions
310
Liability for rent accruing after induction
311
Installment purchases
311–A
Termination of motor vehicle lease contracts
311–B
Cancellation without penalty of certain additional rental contracts
311–C
Termination without penalty of certain service contracts
312
Mortgages
313
Settlement of cases involving stayed proceeding in foreclosure or repossession of personal property
313–A
Exercise of rights under this article not to affect certain future financial transactions
314
Taxes
315
Taxes
316
Policies of insurance
316–A
Protection of assignor of life insurance policy
316–B
Professional liability protection for certain persons ordered to active duty in armed forces
317
Reemployment in private industry
318
Policy of the state
319
Evasive transfers of interest
321
Certificates of service
322
Interlocutory orders
323
Further relief
323–A
Maximum rate of interest
323–B
Filing fees waiver
324
Separability
325
Inconsistent provisions in other acts
326
Article thirteen of military law, added by laws of nineteen hundred forty-one, chapter six hundred eighty-six
327
Duration of the emergency
328
Short title

Accessed:
Mar. 23, 2024

Last modified:
Sep. 22, 2014

§ 316’s source at nysenate​.gov

Link Style