Florida Statutes, Rules, and Regulations Pertinent to Life and Annuity Insurance, Including Variable Products
How does the exception for nonpayment of premium work under Florida's incontestability provisions?
Answer and explanation
Answer: A. Both section 627.560 for group life and section 627.455 for individual life state the incontestability rule as applying except for nonpayment of premium, so that ground survives the two-year period. It is not confined to the first two years, is not extinguished by the grace period, and does not depend on prior notice.Source: Fla. Stat. § 627.560 — 627.560 read with 627.455
More florida statutes, rules, and regulations pertinent to life and annuity insurance, including variable products questions
- What separates churning from twisting under Florida law?
- What triggers the twenty-day payment clock in section 627.4265?
- Where does Florida set out the provisions a group life contract is required to contain?
- Where the Florida voiding rule applies, how are the proceeds distributed?
- Which circumstance keeps a former spouse's beneficiary designation effective under section 732.703?
- Which currently effective Florida rule sets out the duties of the replacing insurer?
589 Florida questions like this one.
Every answer explained, the ones you miss come back on a spaced schedule, and a plan built from your exam date.