Section 21.45.030. Grace period.

Latest version.

There shall be a provision that a grace period of 30 days, or, at the option of the insurer, of one month of not less than 30 days, or of four weeks in the case of industrial life insurance policies the premiums for which are payable more frequently than monthly, is allowed within which the payment of each premium after the first premium may be made, during which period of grace the policy shall continue in full force.  If a claim arises under the policy during the period of grace the amount of the premium due or overdue may be deducted from the policy proceeds.

Authorities

21.42.315;21.45.020

Notes

References

AS 21.42.315 Separate accounts.
AS 21.45.020 Standards provisions required; return and refund.

History

(Sec. 1 ch 120 SLA 1966)

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');