Section 1
SECTION 1. Subject to such terms and conditions that may be agreed upon by the Government Service Insurance System or other insurance firms and the Chief of Staff, Armed Forces of the Philippines, including the rates of the insurance premiums, fifty percent (50%) of which shall be paid by each member of the Armed Forces of the Philippines and fifty percent (50%) by the Government as its counterpart premium contribution, and approved by the Secretary of National Defense, each member of the Armed Forces of the Philippines in the active service, including cadets of the Philippine Military Academy and the Philippine Air Force Flying School, probationary officers, trainees and draftees, shall be insured under an annual special group term coverage program, renewable annually thereafter, in an amount not exceeding P6,000 per member, in addition to the compulsory insurance for members of the Armed Forces of the Philippines by the Government Service Insurance System as provided by existing law.