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2017 Florida Statutes
TITLE XXXVII - INSURANCE
Chapter 627 - INSURANCE RATES AND CONTRACTS
Part IV - INDUSTRIAL LIFE INSURANCE POLICIES (ss. 627.501-627.522)
627.516 - Advance payment of premiums.
Universal Citation: FL Stat § 627.516 (2017)
627.516 Advance payment of premiums.—Each insurer shall allow a refund or discount on advance premiums paid for an industrial life insurance policy if such premiums are paid in a single sum covering a period of at least 13 weeks. Such refund or discount shall reflect the difference in costs between weekly or monthly premium payment and the advance premiums being paid, with an interest factor used to reflect the time value of money.
History.—s. 522, ch. 59-205; s. 3, ch. 76-168; s. 1, ch. 77-457; s. 2, ch. 80-156; ss. 2, 3, ch. 81-318; ss. 420, 809(2nd), ch. 82-243; s. 79, ch. 82-386; s. 114, ch. 92-318.
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