Calif. 'Grace Period' For Policy Termination Not Retroactive
By Jeff Sistrunk ( October 11, 2019, 4:25 PM EDT) -- A California appeals court ruled Thursday that "grace period" laws requiring life insurers to wait 60 days after a policyholder misses a premium payment before terminating coverage don't apply to policies sold before the statutes took effect in 2013, upholding a jury verdict allowing Protective Life Insurance Co. to cancel a policy issued in 2005....
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