™Your Policy Risk Impact Agent
102 chapters · 2,150 sections in this title.
RCW 48.76.010 Short title—"NAIC" and "operative date of the valuation manual" defined.
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(1) This chapter may be known and cited as the standard nonforfeiture law for life insurance. (2) As used in this chapter: (a) "NAIC" means the national association of insurance commissioners. (b) "Operative date of the valuation manual" means the January 1st of the first calenda…
RCW 48.76.020 Nonforfeiture and cash surrender provisions required.
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In the case of policies issued on and after the operative date of this chapter as defined in RCW 48.76.100, no policy of life insurance, except as stated in RCW 48.76.090, may be delivered or issued for delivery in this state unless it contains in substance the following provisio…
RCW 48.76.030 Amount of cash surrender value.
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(1) Subject to subsections (2) and (3) of this section, any cash surrender value available under the policy in the event of default in a premium payment due on any policy anniversary, whether or not required by RCW 48.76.020, shall be an amount not less than the excess, if any, o…
RCW 48.76.040 Nonforfeiture benefit in case of premium default.
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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 is at least equal to the cash surrender value then provided for by the policy or, if…
