Legislation
SECTION 4316
Individual contracts; premium refund at death of insured
Insurance (ISC) CHAPTER 28, ARTICLE 43
§ 4316. Individual contracts; premium refund at death of insured.
Under individual contracts for which premiums are paid directly to the
corporation by the individual, if the death of the insured or a covered
dependent occurs during a period for which the premium has been paid,
the corporation shall refund the premium or the portion of the premium
actually paid by the insured for that person for any period beyond the
end of the policy month in which such death occurred.
Under individual contracts for which premiums are paid directly to the
corporation by the individual, if the death of the insured or a covered
dependent occurs during a period for which the premium has been paid,
the corporation shall refund the premium or the portion of the premium
actually paid by the insured for that person for any period beyond the
end of the policy month in which such death occurred.