California § 10162. 10162. (Added by Stats. 1943, Ch. 955.)

California Statutes

§ 10162. — 10162. (Added by Stats. 1943, Ch. 955.)

California § 10162.

JurisdictionCalifornia

Code INSInsurance Code - INS

Div. 2.DIVISION 2. CLASSES OF INSURANCE

Part 2.PART 2. LIFE AND DISABILITY INSURANCE

Ch. 1.CHAPTER 1. The Contract

Art. 3a.ARTICLE 3a. Standard Nonforfeiture Law for Life Insurance

This text of California § 10162. (10162. (Added by Stats. 1943, Ch. 955.)) is published on Counsel Stack Legal Research, covering California primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Cal. Insurance Code - INS Code § 10162. (2026).

Text

Any paid-up nonforfeiture benefit available under the policy in the event of default in a premium payment due on any policy anniversary shall be such that its present value as of such anniversary shall be at least equal to the cash surrender value then provided for by the policy or, if none is provided for, that cash surrender value which would have been required by this article in the absence of the condition that premiums shall have been paid for at least a specified period.

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Any paid-up nonforfeiture benefit available under the policy in the event of default in a premium payment due on any policy anniversary shall be such that its present value as of such anniversary shall be at least equal to the cash surrender value then provided for by the policy or, if none is provided for, that cash surrender value which would have been required by this article in the absence of the condition that premiums shall have been paid for at least a specified period.

Legislative History

Added by Stats. 1943, Ch. 955.

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California § 10162., Counsel Stack Legal Research, https://law.counselstack.com/statute/ca/INS/10162..