20-1309. Reinstatement
There shall be a provision that unless the policy has been surrendered for its cash surrender value or unless the paid-up term insurance, if any, has expired, the policy will be reinstated at any time within two years from the date of premium default upon written application therefor, the production of evidence of insurability satisfactory to the insurer, the payment of all premiums in arrears, and the payment or reinstatement of any other indebtedness to the insurer upon the policy, all with interest at a rate not exceeding six per cent per annum compounded annually.
Section: Previous 20-1302 20-1303 20-1304 20-1305 20-1306 20-1307 20-1308 20-1309 20-1310 20-1311 20-1312 20-1313 20-1314 20-1315 20-1316 NextLast modified: October 13, 2016