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2019 Massachusetts General Laws
Part I - Administration of the Government
Title XXII - Corporations
Chapter 175 - Insurance
Section 136 - Group Life Policies; Exemption From Loan Provision
Universal Citation: MA Gen L ch 175 § 136 (2019)
Section 136. Such policies shall be exempt from any loan provision or requirement. Any equity of the insured in a group life insurance policy at the time of default in the payment of a premium, whether that equity exists by reason of the terms of the policy or by law, shall be applied to purchase extended or paid-up insurance for each of the insured at attained age on the basis of the mortality table and rate of interest used in computing the premium for the group.
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