Sec. 38a-441. (Formerly Sec. 38-159c). Notice to insured when life insurance policy paid up.
Sec. 38a-441. (Formerly Sec. 38-159c). Notice to insured when life insurance
policy paid up. Any insurance company doing the business of life insurance in this
state which writes an individual life insurance policy delivered or issued for delivery
in this state shall provide notice when such policy is fully paid up. Such notice shall be
in writing and shall be sent or delivered by the insurer to the owner of the policy at the
last-known address of the owner during the year in which the date such final payment
is received by the insurer occurs, or within thirty-one days of such date if later. Each
five years thereafter, written notice shall be so sent or delivered to the owner of the
policy providing notice of the current status of such policy. The provisions of this section
shall not apply to the purchase of a single premium life insurance policy, a universal
life insurance policy, or to the purchase of paid-up additions under a participating life
insurance policy.
(P.A. 87-164.)
History: Sec. 38-159c transferred to Sec. 38a-441 in 1991.