This story is reprinted with permission from the Insurance Coverage Law Center, the industry’s only comprehensive digital resource designed for insurance coverage law professionals. Visit the website to subscribe.
An appellate court in California has ruled that an amendment to the insurance law providing a 60-day grace period before a life insurer may terminate a life insurance policy for nonpayment of premiums that came into effect on January 1, 2013 did not apply to term life insurance policies issued before that date.
