Florida Statutes, Rules, and Regulations Pertinent to Life and Annuity Insurance, Including Variable Products
What makes the Florida group conversion right valuable to a person whose health has deteriorated?
Answer and explanation
Answer: D. Section 627.566 provides that the individual policy issues without evidence of insurability, which is what protects a person whose health has worsened. The premium follows attained age rather than entry age, the form is one the insurer then customarily issues, and the window is 31 days rather than a year.Source: Fla. Stat. § 627.566 — 627.566, Assignment and the conversion right
More florida statutes, rules, and regulations pertinent to life and annuity insurance, including variable products questions
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