California Insurance Code 10248 – (a) Except as permitted in Section 10247, no funeral insurance …
(a) Except as permitted in Section 10247, no funeral insurance contract issued or delivered in this state upon the life of any person in this state shall contain any provision scaling down or reducing the benefits payable below the face amount of the policy. The provisions of this section, however, shall not apply to a reduction of the benefit payable because of a misstatement of the age in the policy or application therefor, nor to the suicide, military or naval service or war provisions of the policy, if any, nor to contestability of the policy, nor to a policy issued on the life of a juvenile.
(b) If a limited death benefit insurance contract is issued under Section 10247, the limited death benefit period shall not exceed two years.
Terms Used In California Insurance Code 10248
- Contract: A legal written agreement that becomes binding when signed.
- Person: means any person, association, organization, partnership, business trust, limited liability company, or corporation. See California Insurance Code 19
- State: means the State of California, unless applied to the different parts of the United States. See California Insurance Code 28
(Amended by Stats. 1995, Ch. 340, Sec. 2. Effective January 1, 1996.)