renewal of term insurance

renewal of term insurance Sec. 602. (a) Subsection (f) of section 602 of the National Service Life Insurance Act of 1940 (38 U. S. C., sec. 802) is amended by striking out “and which is not lapsed” in the first proviso, and by adding immediately after such proviso the following: “Provided further, That such renewal shall be effected in cases where the policy is lapsed only in the event the lapse occurred not earlier than two months prior to expiration of the term period, and reinstatement in such cases shall be under terms and conditions prescribed by the Administrator:”. (b) The amendments made by subsection (a) shall be effective July 23, 1953.