Massachusetts General Laws ch. 175 sec. 186A – Delivery of policy; presumptions
Current as of: 2024 | Check for updates
|
Other versions
Section 186A. The delivery of any policy of life or endowment insurance or annuity contract shall create a presumption that any conditions precedent, other than a condition requiring prepayment of the initial premium, to the attaching of the policy or contract have been performed. In any court action based on a life insurance policy in which the good health of the insured at the time the policy becomes effective is at issue, there shall be a presumption that the insured was in good health if the insurer delivered the policy.
Terms Used In Massachusetts General Laws ch. 175 sec. 186A
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Contract: A legal written agreement that becomes binding when signed.
- Precedent: A court decision in an earlier case with facts and law similar to a dispute currently before a court. Precedent will ordinarily govern the decision of a later similar case, unless a party can show that it was wrongly decided or that it differed in some significant way.