A Colorado life insurance policy with quarterly premium payments is about to lapse for nonpayment. Under C.R.S. § 10-7-105.5, what notice must the insurer give for the lapse to be effective?

Why B is correct

C.R.S. § 10-7-105.5 requires the reason for lapse to be mailed first-class at least 25 days before the effective lapse date, and an affidavit of mailing serves as proof. The rule applies to policies whose premiums are paid less frequently than monthly, so a quarterly-pay policy is covered and the 25-day notice controls whether the lapse is effective.

Why the other options are wrong

• A) 45 days is longer than the statutory minimum; the effective period under C.R.S. § 10-7-105.5 is at least 25 days before the lapse takes effect.
• C) 30 days is not the life lapse-notice period; that figure belongs to other Colorado notice rules, not the lapse notice of C.R.S. § 10-7-105.5.
• D) 10 days is shorter than the required minimum; a lapse without a notice mailed at least 25 days ahead is not effective for a quarterly-pay policy.

Memory hook

Quarterly or slower? Give 25 days' notice.