Definitions.
Section 2
SEC. 2. Definitions.—When used in this Act, the following terms shall, unless the context otherwise indicates, have the following respective meanings: "Employee" shall mean any person in the service of the Government of the Commonwealth of the Philippines, its subdivisions, agencies and instrumentalities, including an enlisted man or officer of the Regular Force, Philippine Army, possessing either temporary or permanent civil service status. "Board" and "System" shall mean respectively, the "Government Service Insurance Board" and the "Government Service Insurance System" created and established in this Act. "Salary, pay, or compensation" shall be so construed as to exclude all bonuses, "fogey," allowances, and overtime pay, or salary, pay or, compensation given in addition to the base pay of the position or rank as fixed by law or regulations. "Member" shall mean any employee who is admitted into the Government Service Insurance System in accordance with the provisions of section four hereof. "Life insurance" shall mean any form of insurance on life authorized herein, such as limited payment life, endowment, etc. "Membership policy" shall mean a life insurance policy for an amount, the annual premium of which is equivalent to six per centum of an employee's basic annual salary or compensation, except that in the case of members of the Regular Force, Philippine Army, the basic premium shall be five per centum of their annual salary or compensation.