Massachusetts General Laws ch. 175 sec. 143 – Applicability of forfeiture laws to policies of life insurance and deferred annuity contracts
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Section 143. All policies of life insurance and deferred annuity contracts shall be subject to the laws limiting forfeiture applicable and in force at the date of their issue.
Terms Used In Massachusetts General Laws ch. 175 sec. 143
- 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.