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CHAPTER 58-15

LIFE INSURANCE AND ANNUITIES

58-15-1      Application of chapter.
58-15-2      "Industrial life insurance" defined.
58-15-3      Investment of trust funds in life insurance and annuities.
58-15-4      Standard provisions required in policy of life insurance, exceptions.
58-15-5      Standard provisions inapplicable to annuity contract or health or accident benefits.
58-15-6      Standard provisions inapplicable to single premium or term policies.
58-15-7      Description of policy in title.
58-15-8      Entire contract contained in policy and application--Statement of applicant not deemed a warranty.
58-15-8.1      Notice of right of cancellation after receipt of policy--"Free look" provision.
58-15-8.2      Issuance of policies by insurance company or fraternal benefit society--Delivery receipts--Certificates of mailing--Term of retention.
58-15-9      Effect of misstatement in policy regarding age.
58-15-10      Incontestability provision required--Exceptions.
58-15-11      Exclusions and restrictions unaffected by incontestability clause.
58-15-12      Payment of premiums provision.
58-15-13      Grace period in policy.
58-15-14      Automatic premium loan--Provision optional with insurer.
58-15-15      Insurance policy loan--Security--Maximum amount--Private placement policies.
58-15-15.1, 58-15-15.2.      Repealed.
58-15-15.3      Repealed.
58-15-15.4      Insurance policy loan--Definition of terms.
58-15-15.5      "Published monthly average" defined.
58-15-15.6      Insurance policy loan--Permitted interest rates.
58-15-15.7      Insurance policy loan--Allowable rate under adjustable maximum interest rate.
58-15-15.8      Insurance policy loan--Determination of interest under adjustable maximum interest rate.
58-15-15.9      Insurance policy loan--Notice of interest rate to policyholder.
58-15-15.10      Insurance policy loan--Loan value of policy.
58-15-15.11      Insurance policy loan--Provisions of statutes required in policies.
58-15-15.12      Insurance policy loan--Application of statutes on interest rates to prior contracts.
58-15-15.13      Private placement policy defined.
58-15-15.14      Premium defined.
58-15-16      Loans on policies issued prior to the adoption of standard policy provisions--Loan value--Deferment of application--Private placement policies.
58-15-17      Loans on policies under standard policy provisions--Loan value--Deferment of application--Private placement policies.
58-15-18      Loan value of policy--Indebtedness deducted.
58-15-19      Delinquent interest on policy loan exceeding amount of loan value--Termination of policy, notice.
58-15-20      Policy loan provisions inapplicable to term insurance or industrial life insurance policies.
58-15-21      Nonforfeiture of benefits--Cash surrender value--Provisions required in policies.
58-15-22      Reinstatement provisions required in policy.
58-15-23      Participating policies--Annual dividends, ascertainment, and apportionment.
58-15-24      Participating policies--Rights of policyholder to dividends.
58-15-25      Participating industrial life insurance policies--Annual participation of policy in divisible surplus.
58-15-26      Payment of claims for benefits--Private placement policies.
58-15-26.1      Insurers to pay interest on life insurance proceeds.
58-15-26.2      Computation of interest.
58-15-26.3      Interest not required where beneficiary elects to receive other than lump sum payment.
58-15-26.4      Notice to beneficiary of interest.
58-15-26.5      Application limited.
58-15-27      Beneficiary to be designated in industrial life policy--Change of beneficiary--Endorsement on policy.
58-15-28      Industrial life policy--Payment of benefits.
58-15-29      Installment payments--Table of guaranteed installments required.
58-15-30      Nonforfeiture benefits in policies issued prior to the adoption of standard nonforfeiture law.
58-15-31      Nonforfeiture benefits in policies issued under standard nonforfeiture law.
58-15-32      Nonforfeiture benefit provisions which may be omitted--Deferred payment of cash surrender value--Private placement policies.
58-15-33      Cash surrender value--Amount available under policy on default of premium--Paid-up policy.
58-15-34      Paid-up nonforfeiture benefits--Default in payment of premium.
58-15-35      Adjustment of premiums under nonforfeiture provisions.
58-15-36      Amount of insurance varying with duration of policy--Adjustment of premiums.
58-15-37      Adjusted premiums--Term insurance benefits provided by rider or supplemental policy.
58-15-38      Adjusted premiums and present values--Computation.
58-15-39      Default in payment of premium--Computation of cash surrender value and paid-up nonforfeiture benefit.
58-15-40      Additional accident benefits--Premiums disregarded in ascertaining cash surrender value.
58-15-41      Nonforfeiture benefit provision inapplicable to reinsurance, group insurance, annuity contracts, or term insurance.
58-15-42      Notice by company of election to comply with nonforfeiture benefit provisions--Filing with director.
58-15-43      Citation of standard nonforfeiture law for life insurance.
58-15-43.1      Adjusted premiums--Calculation on annual basis.
58-15-43.2      "Nonforfeiture net level premium" defined.
58-15-43.3      Initial calculation of changes in benefits or premiums--Recalculation after change.
58-15-43.4      Recalculated future adjusted premiums.
58-15-43.5      Additional expense allowance.
58-15-43.6      Recalculated nonforfeiture net level premium.


58-15-43.7      Substandard policy--Calculation of adjusted premiums and present value.
58-15-43.8      Adjusted premiums and present values--Calculation--Applicable procedures and tables.
58-15-43.9      Nonforfeiture interest rate.
58-15-43.10      Refiling of nonforfeiture values or methods of computation.
58-15-43.11      Notice of election to comply with revised nonforfeiture.
58-15-43.12      Insurance plans to conform to minimum standards of nonforfeiture laws.
58-15-43.13      Default in payment of premium--Amount of cash surrender value--Amount of nonforfeiture factor--Policies issued after January 1, 1986.
58-15-44      Dating back of application for insurance to reduce premium prohibited--Contract not invalidated.
58-15-45      Excluding or restricting coverage in case of death--Permissible exclusions.
58-15-46      Excluding or restricting coverage in case of death--Return of premiums, adjustment for indebtedness and dividend credits.
58-15-47      Prohibited policy provisions--Person soliciting insurance or annuity insurance producer of insured.
58-15-48      Prohibited policy provisions--Construction of contract according to laws of other state or country.
58-15-49      Prohibited policy provisions--Rights and obligations of insured under contract governed by law of other state.
58-15-50      Prohibited policy provisions--Depriving courts of jurisdiction of action against insurer.
58-15-51      Limitation of action on policy--Minimum time.
58-15-52      Prohibited policy provisions inapplicable to group life insurance, health insurance, reinsurance, annuities, and accident benefits under life insurance policy.
58-15-53      Use of prohibited policy provision which is more favorable to insured.
58-15-54      Prohibited policy provisions in industrial life insurance--Denial of liability because of other insurance.
58-15-55      Prohibited policy provisions in industrial life insurance--Right to declare policy void because of disease or ailment of insured.
58-15-56      Prohibited policy provisions in industrial life insurance--Right to declare policy void because insured rejected for insurance.
58-15-57      Annuity and endowment contracts--Standard provisions required, exceptions.
58-15-58      Standard provisions of annuity and endowment contracts inapplicable to deferred annuities under life insurance policies.
58-15-59      Annuities and endowments--Entire agreement contained in contract and application.
58-15-59.1      Right of annuitant or purchaser to cancel after receipt of contract--Effect of cancellation.
58-15-59.2      Issuance of policies by insurance company or fraternal benefit society--Delivery receipts--Certificates of mailing--Term of retention.
58-15-60      Effect of misstatement of age or sex in annuity or endowment contract.
58-15-61      Incontestability provision in annuity or endowment contract.
58-15-62      Grace period in annuity or endowment contract.
58-15-63      Participating annuity or endowment contract--Ascertainment and apportionment of divisible surplus.
58-15-64      Reinstatement provision required in annuity or endowment contract.
58-15-65      Reversionary annuity contract--Standard provisions.
58-15-66      Reinstatement provision required in reversionary annuity contract.
58-15-67      Reversionary annuity contract provisions inapplicable to group annuities or to annuities included in life insurance policies.
58-15-68      Incontestability provisions after reinstatement of life insurance policy or annuity contract.
58-15-69      Reinstated life insurance policy or annuity contract--Limitation of liability.
58-15-70      Policy settlements by life insurer.
58-15-71      Life insurance policy--Restrictions on issuing and delivering.
58-15-72 to 58-15-81.      Repealed.
58-15-82      Uniform life insurance and annuity request forms--Director to adopt by rule--Insurers to accept.
58-15-83      Plans excluded from application of §§ 58-15-83 to 58-15-93, inclusive.
58-15-84      Provisions required in annuity contracts.
58-15-85      Minimum values based on minimum nonforfeiture amounts--Minimum nonforfeiture amounts defined.
58-15-86      Present value of paid-up annuity benefit--Computation.
58-15-87      Cash surrender benefits--Calculation of minimum--Death benefit.
58-15-88      Contracts without cash surrender benefits--Contracts not providing death benefits prior to commencement of payments--Present value calculations.
58-15-89      Election to have payments commence at optional maturity date--Maturity date used for calculation of benefits.
58-15-90      Contracts without cash surrender benefits or death benefits at least equal to minimum nonforfeiture amount--Statement in contract.
58-15-91      Lapse of time and payments beyond cessation year allowed for calculations.
58-15-92      Annuity and life insurance benefits in excess of greater of cash surrender benefits or return of gross considerations with interest--Minimum nonforfeiture benefits--Additional benefits.
58-15-93      Election to apply provisions of §§ 58-15-83 to 58-15-93 to annuity contracts--Application of provisions after second anniversary.


Back to Title 58