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Colorado Rev. Stat.
2022 Colorado Code
Title 10 - Insurance
Article 7 - Life Insurance
Part 3 - Standard Nonforfeiture and Valuation Act
§ 10-7-304. Computation of Nonforfeiture Benefit
Universal Citation:
CO Rev Stat § 10-7-304 (2022)
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Any paid-up nonforfeiture benefit available under the policy in the event of default in a premium payment due on any policy anniversary shall be such that its present value as of such anniversary shall be at least equal to the cash surrender value then provided for by the policy or, if none is provided for, that cash surrender value which would have been required by this part 3 in the absence of the condition that premiums shall be paid for at least a specified period.
Source: L. 61: p. 462, § 4. CRS 53: § 72-20-4. C.R.S. 1963: § 72-19-4.
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