Special rights attached to policy.
Section 11
SEC. 11. Special rights attached to policy.—All policies issued under the provisions of this Act shall be assignable to the System and shall be entitled to participation in the surplus, as provided in section twenty-two hereof, and shall continue in force, except as otherwise provided herein, whether the member is in or out of the service, so long as he complies with the provisions and conditions thereof. Such policies and the proceeds thereof shall be exempt from all taxes.