Quick Links
- Florida Statutes Definitions Index (2022) [PDF]
- General Laws Conversion Table (2022) [PDF]
- Preface to the Florida Statutes (2022) [PDF]
- Table of Section Changes (2022) [PDF]
- Table Tracing Session Laws to Florida Statutes (2022) [PDF]
- Index to Special and Local Laws (1971-2022) [PDF]
- Index to Special and Local Laws (1845-1970) [PDF]
- Statute Search Tips
2021 Florida Statutes (Including 2021B Session)
SECTION 4615
Interest payable on death claim payments.
Interest payable on death claim payments.
627.4615 Interest payable on death claim payments.—When a policy provides for payment of its proceeds in a lump sum upon the death of the insured, the payment must include interest, at an annual rate equal to or greater than the Moody’s Corporate Bond Yield Average-Monthly Average Corporate as of the day the claim was received, from the date the insurer receives written due proof of death of the insured. If the method of calculating such index is substantially changed from the method of calculation in use on January 1, 1993, the rate must not be less than 8 percent.
History.—s. 15, ch. 83-288; s. 3, ch. 84-94; ss. 43, 114, ch. 92-318.