In an annuity or pure endowment contract, other than a reversionary or group annuity, there shall be a provision that the contract may be reinstated at any time within 1 year from the default in making stipulated payments to the insurer, unless the cash surrender value has been paid, but all overdue stipulated payments and any indebtedness to the insurer on the contract shall be paid or reinstated with interest thereon at a rate to be specified in the contract, but not exceeding 6% per annum payable annually, and, in cases where applicable, the insurer may also include a requirement of evidence of insurability satisfactory to the insurer.
Structure Delaware Code
Chapter 29. LIFE INSURANCE AND ANNUITY CONTRACTS
§ 2903. “Industrial life insurance” defined.
§ 2904. Standard provisions required.
§ 2912. Table of installments.
§ 2915. Beneficiary, industrial policies.
§ 2917. Excluded or restricted coverage.
§ 2918. Standard provisions; annuity and pure endowment contracts.
§ 2919. Grace period; annuities.
§ 2920. Incontestability; annuities.
§ 2921. Entire contract; annuities.
§ 2922. Misstatement of age or sex; annuities.
§ 2924. Reinstatement; annuities.
§ 2925. Standard provisions; reversionary annuities.
§ 2926. Limitation of liability.
§ 2927. Prohibited provisions.
§ 2928. Provisions required by law of other jurisdiction.
§ 2929. Standard nonforfeiture law — Generally.
§ 2930. Incontestability; limitation of liability after reinstatement.
§ 2931. Participating, nonparticipating policies; right to issue.
§ 2933. Prohibited policy plans.
§ 2934. Registered policies, bonds; deposit.
§ 2935. Registered policies, bonds — Identification.
§ 2936. Registered policies, bonds — Records of Commissioner; valuation.
§ 2937. Registered policies, bonds — Additional deposits.
§ 2938. Registered policies, bonds — Deficient deposit.
§ 2939. Registered policies, bonds — Effect of insolvency.
§ 2940. Registered policies, bonds — Applicability of general deposit provisions.