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Colorado Rev. Stat.
2020 Colorado Revised Statutes
Title 10 - Insurance
Article 7. Life Insurance
Section 10-7-706. Reliance on statements.
Universal Citation:
CO Rev Stat § 10-7-706 (2020)
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This media-neutral citation is based
on the American Association of Law Libraries Universal Citation Guide and is not
necessarily the official citation.
An insurer is entitled to rely upon all reasonable statements, declarations, and representations made by an applicant for life insurance relative to the existence of an insurable interest. No insurer incurs legal liability, except as set forth in the policy, by virtue of untrue statements, declarations, or representations relied upon in good faith by the insurer.
Source: L. 2011: Entire part added, (SB 11-182), ch. 227, p. 975, § 1, effective May 27.
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