There is a newer version of the South Carolina Code of Laws
2013 South Carolina Code of Laws
Title 38 - Insurance
CHAPTER 65 - GROUP LIFE INSURANCE
SECTION 38-65-120. Interest on payment; when required.
SC Code § 38-65-120 (2013) What's This?
When a group life insurance policy provides for payment of its proceeds in a lump sum upon the death of an insured and the insurer fails to pay the proceeds within thirty days of submission of proof of death, the payment must include interest at the legal rate of interest from the date of death of that insured until the date the claim is paid.
HISTORY: 1988 Act No. 482, Section 6.
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