Membership insurance.
Section 8
SEC. 8. Membership insurance.—Effective on the last day of the sixth month following the date on which this Act shall take effect or following the date of the inember' B appointment, commission, or enlistment, if this be a later date, each officer or enlisted man of the Regular Force, Philippine Army, shall be automatically insured and granted the corresponding membership policy for an amount the annual premium of which is equivalent to five per centum of his current basic annual salary, and any other regular member of the System, for an amount the annual premium of which is equivalent to six per centum of his basic current annual salary: Provided, however, That in the case of an increase in the amount of the six per cent contribution made by and for a member, the face value of his policy shall be increased by an amount corresponding to said increase, computed by the Board on the basis of the remaining period of the policy and of other conditions and contingencies affecting the risk and value thereof.