Policies entitled to protection and lapse of policies

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. 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. The protection provided by this subchapter applies during the insured’s period of military service and for a period of two years thereafter. (Source: (Oct. 17, 1940, ch. 888, title IV, § 404, as added Pub. L. 108–189, § 1, Dec. 19, 2003, 117 Stat. 2853.))