Florida Statutes

Fla. Stat. § 627.4615 (2025)

Interest payable on death claim payments.

✓ 2025 Florida Statutes — current through the 2025 Regular Session

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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.

Notes of Decisions

Cited in 4 cases, 1996–2007 · leading case: Stone v. Jackson Nat'l Life Ins. Co., 934 So. 2d 532 (Fla. 3d DCA 2006).

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Stone v. Jackson Nat'l Life Ins. Co., 934 So. 2d 532 (Fla. 3d DCA 2006). · cites it 18× “…than the Moody’s Corporate Bond Yield Average-Monthly Average Corporate as of the day the claim was received.... § 627.4615, Fla. Stat. (1999).”

Great West Life Assurance Co. v. Greene, 678 So. 2d 385 (Fla. 3d DCA 1996). · cites it 4× “2 It contended that this payment, although made, was not legally required as section 627.4615, Florida Statutes (1993), states that interest is payable only from the date the insurer receives written due proof of the death of the insured, not from the date of death as Greene…”

Best Meridian Ins. Co. v. Tuaty, 811 So. 2d 777 (Fla. 3d DCA 2002). · cites it 5× “§ 627.4615, Fla. Stat. (1995). In interpreting this statute, the trial court determined that section 627.”

Rogelio A. Malek v. New York Life Ins. Co., 246 F. App'x 635 (11th Cir. 2007). “Fla. Stat. § 627.4615 . The district court held, pursuant to § 627.”

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