Mass. Gen. Laws ch. 175 § 136
Current through Chapter 223 of the 2024 Legislative Session
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.
Mass. Gen. Laws ch. 175, § 136