Maine § 24-A §2529 Nonforfeiture provisions

Maine Statutes

§ 24-A §2529 — Nonforfeiture provisions

Maine § 24-A §2529

Title 24-AMAINE INSURANCE CODE

Ch. 29LIFE INSURANCE AND ANNUITY CONTRACTS

This text of Maine § 24-A §2529 (Nonforfeiture provisions) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 24-A, § 24-A §2529 (2026).

Text

1.In the case of policies issued on or after January 1, 1970, no policy of life insurance, except as stated in section 2534, may be delivered or issued for delivery in this State, unless it shall contain in substance the following provisions, or corresponding provisions which in the opinion of the superintendent are at least as favorable to the defaulting or surrendering policyholder as are the minimum requirements hereinafter specified and which are essentially in compliance with section 2533‑A:

2.Any of the foregoing provisions or portions thereof not applicable by reason of the plan of insurance may, to the extent inapplicable, be omitted from the policy.

3.The insurer shall reserve the right to defer the payment of any cash surrender value for a period of 6 months after demand there

Free access — add to your briefcase to read the full text and ask questions with AI

1.
In the case of policies issued on or after January 1, 1970, no policy of life insurance, except as stated in section 2534, may be delivered or issued for delivery in this State, unless it shall contain in substance the following provisions, or corresponding provisions which in the opinion of the superintendent are at least as favorable to the defaulting or surrendering policyholder as are the minimum requirements hereinafter specified and which are essentially in compliance with section 2533‑A:
2.
Any of the foregoing provisions or portions thereof not applicable by reason of the plan of insurance may, to the extent inapplicable, be omitted from the policy.
3.
The insurer shall reserve the right to defer the payment of any cash surrender value for a period of 6 months after demand therefor with surrender of the policy.