For the purposes of this act,¹ the term “noncancellable health and accident insurance” means insurance against disability resulting from sickness, ailment, or bodily injury, under a policy or contract under which the insurer does not have the option to cancel or otherwise terminate the contract at or after the expiration of one year from its effective date, but not including policies or contracts insuring solely against accidental injury, or total and permanent disability benefits, supplementary to life insurance or annuity policies or contracts.