Short answer: Wyoming life policies must allow a thirty-day grace period (or one month of at least thirty days) for premiums after the first, with optional interest not over 6% a year. Death benefits must be paid with interest from the date of death. Check your policy face page for any free-look window your insurer prints.
This guide is general consumer information for Wyoming life insurance buyers. It isn't legal advice or a coverage determination. Policy wording, underwriting and the statutes linked below control.
Thirty-day grace period
W.S. §26-16-103 requires a grace period of thirty days, or at the insurer's option one month of not less than thirty days (or four weeks for industrial life with more-than-monthly premiums), for any premium after the first. The policy continues in full force during grace, counted from the premium due date in the policy. The insurer may impose interest not to exceed six percent per annum for the grace days, and a claim arising during grace may have overdue premium, interest and any deferred installment deducted from the proceeds.
Interest on death claims
W.S. §26-16-112 requires settlement upon proof of death and, at the insurer's option, surrender of the policy or proof of the claimant's interest. Benefits must be paid within the time requirements of W.S. 26-15-124 and include interest accrued from the date of death until the date of payment, at not less than the rate payable on death proceeds left on deposit with the insurer.
Free-look on the policy face
Chapter 16's standard provisions we confirmed cover grace, incontestability, claims payment and related clauses. Read your delivered policy's face page for any examination or return window the insurer prints.
Insurer financial strength
Shoppers who want regulator guidance on insurer financial strength or solvency in Wyoming can reach the Wyoming Department of Insurance.
Questions? Contact Alishahi Insurance or call (877) 711-4545. See insurance in Wyoming.
Frequently asked questions
What's Wyoming's life insurance grace period?
Thirty days (or one month of at least thirty days) for premiums after the first under W.S. §26-16-103, with interest capped at 6%.
Does Wyoming require interest on life death claims?
Yes—interest from the date of death until payment under §26-16-112.
Alishahi Insurance · 439 N Canon Dr, Penthouse, Beverly Hills, CA 90210 · (877) 711-4545 · CA License #4348151. General information only. This isn't legal, tax or financial advice or a coverage determination. Coverage depends on policy language and underwriting, and rules vary by state.