(a) As used in this article:

(i) 'Premium' means the cost of servicemembers group life insurance determined as provided in 38 U.S.C. § 1969(a)(1) or the cost of state sponsored life insurance as determined by the insurers;

(ii) 'Qualified member' means an active member in good standing of the Wyoming national guard;

(iii) 'Servicemembers group life insurance' means that life insurance issued to a qualified member pursuant to 38 U.S.C., Chapter 19;

(iv) 'State sponsored life insurance' means the group life insurance program pursuant to 37 U.S.C. 707.