Article 2697

The insurer may not bring an action for the payment of premiums due in respect of a contract of life insurance.

If a premium has not been paid at the due date on a policy on which less than three annual premiums have been paid, the insurer may demand payment. If payment is not made within thirty days from the date of the demand, the insurer may terminate the policy. The policy may not provide for a shorter period.

If a premium has not been paid at the due date on a policy on which at least three annual premiums have been paid and payment is not made within thirty days from the date of a demand for payment, the policy shall not lapse. The insurer may issue a paid-up policy or otherwise reduce the capital or life interest of the policy.