Washington Statutes
§ 48.76.040 — Nonforfeiture benefit in case of premium default.
Washington § 48.76.040
This text of Washington § 48.76.040 (Nonforfeiture benefit in case of premium default.) is published on Counsel Stack Legal Research, covering Washington primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
Wash. Rev. Code § 48.76.040 (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 is 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 chapter in the absence of the condition that premiums shall have been paid for at least a specified period.
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Legislative History
[1982 1st ex.s. c 9 s 13.]
Nearby Sections
15
§ 48.01.010
Short title.§ 48.01.020
Scope of code.§ 48.01.030
Public interest.§ 48.01.035
"Developmental disability" defined.§ 48.01.040
"Insurance" defined.§ 48.01.050
"Insurer" defined.§ 48.01.053
"Issuer" defined.§ 48.01.060
"Insurance transaction" defined.§ 48.01.070
"Person" defined.§ 48.01.080
Penalties.§ 48.01.100
Existing officers.§ 48.01.110
Existing licenses.§ 48.01.120
Existing insurance forms.§ 48.01.130
Existing actions, violations.§ 48.01.140
Headings.Cite This Page — Counsel Stack
Bluebook (online)
Washington § 48.76.040, Counsel Stack Legal Research, https://law.counselstack.com/statute/wa/48.76.040.