Section 101(2) in The Navy (Pay And Allowances) Regulations, 1966
(2)An officer of the Aviation Branch commissioned on or after the 1st December, 1959 but before the 16th December, 1967 shall be required to take out and keep alive, such additional endowment assurance policy or alternatively convertible life policy with definite conversion into endowment with the Life Insurance Corporation of India covering aviation risk also, which together with such policies already taken out by him with the life Insurance Corporation of India and/or the Postal Life Insurance will give him a cover of Rs. 25,000 upto at least the expiry of 20 years from the date of commissioning in the aviation branch and the total average premium or premia payable for all would come to Rs. 150 p.m. or more. Therefore, as and when any of the policies mature, the officer shall subscribe the difference between Rs. 150 p.m. and the monthly premium of the current policy/policies, if any, to the D.S.O.P. Fund over and above the compulsory minimum rate of subscription payable under the rules.
