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2025 Virgin Islands Code
Title 22 - Insurance
Chapter 39 - Life Insurance and Annuities
§ 962. Reinstatement
Universal Citation:
V.I. Code tit. 22, § 962 (2025)
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There shall be a provision that the policy may be reinstated at any time within three years after the date of default in the payment of any premium, unless the policy has been surrendered for its cash value, or the period of any extended insurance provided by the policy has expired, upon evidence of insurability satisfactory to the insurer and the payment of all overdue premiums, and payment (or, within the limits permitted by the then cash values of the policy, reinstatement) of any other indebtedness to the insurer upon the policy with interest as to both premiums and indebtedness at a rate not exceeding 6 percent per annum compounded annually.
History
—Added Mar. 29, 1968, No. 2126, § 1, Sess. L. 1968, Pt. I, p. 52.
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