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§ 3974. Policies entitled to protection and lapse of policies

{Section 404 of the Act.]

(a) DETERMINATION- The Secretary of Veterans Affairs shall determine whether a policy is entitled to protection under this subchapter and shall notify the insured and the insurer of that determination.

(b) LAPSE PROTECTION- A policy that the Secretary determines is entitled to protection under this subchapter shall not lapse or otherwise terminate or be forfeited for the nonpayment of a premium, or interest or indebtedness on a premium, after the date on which the application for protection is received by the Secretary.

(c) TIME APPLICATION- The protection provided by this subchapter applies during the insured’s period of military service and for a period of two years thereafter.



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