§ 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 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 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 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.