Florida Statutes, Rules, and Regulations Pertinent to Life and Annuity Insurance, Including Variable Products
Which pair of Florida sections governs borrowing against a policy and the minimum values available if premiums stop?
Answer and explanation
Answer: D. Section 627.458 governs the policy loan and section 627.476 is the Standard Nonforfeiture Law for Life Insurance. Section 627.453 is the grace period, section 627.455 is incontestability, section 627.456 covers misstatement of age or sex, and section 627.459 covers reinstatement.Source: Fla. Stat. §§ 627.552-627.5575 — 627.458 and 627.476 compared
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