State RegulationsCO specificDifficulty 3/5
Under C.R.S. § 10-7-105.5, the 25-day lapse notice requirement does NOT apply to which of the following Colorado life policies?
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Answer & full 3-part explanation (select an option above, or peek)
Why D is correct
C.R.S. § 10-7-105.5 does not apply to premiums paid monthly or more frequently. The notice protection targets less frequent payment modes — annual, semiannual, and quarterly — where a lapse can occur without the owner noticing, so the monthly-mode policy is the exception.
Why the other options are wrong
- A) Annual-mode policies are within the 25-day notice requirement.
- B) Semiannual-mode policies are within the 25-day notice requirement.
- C) Quarterly-mode policies are within the 25-day notice requirement.
Memory hook
Monthly or faster — 10-7-105.5 steps out.