Question: The Revised Code of Washington is available online. Chapter 48, Section 23 of the RCW provides the rules for life insurance and annuities sold in
The Revised Code of Washington is available online. Chapter 48, Section 23 of the RCW provides the rules for life insurance and annuities sold in Washington. Access the Code (search for: "Chapter 48.23 RCW"). Use the information provided to answer the questions below. Some hints are provided.
a. Unless surrendered for its cash value, what is the maximum time period after default for nonpayment of premiums during which a policy may be reinstated? See 48.23.1120
b. How long must a life insurance policy be in force before it becomes incontestable in the state of Washington? See 48.23.050
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
