58-17-42 Age limit in policy--Effect of acceptance of premiums or misstatement of age.
Age limit in policy--Effect of acceptance of premiums or misstatement of age.
any policy of health insurance contains a provision establishing, as an age limit or otherwise, a date
after which the coverage provided by the policy will not be effective, and if such date falls within
a period for which premium is accepted by the insurer or if the insurer accepts a premium after such
date, the coverage provided by the policy will continue in force until the end of the period for which
premium has been accepted. In the event the age of the insured has been misstated and if, according
to the correct age of the insured, the coverage provided by the policy would not have become
effective, or would have ceased prior to the acceptance of such premium or premiums, then the
liability of the insurer shall be limited to the refund, upon request, of all premiums paid for the
period not covered by the policy.
Source: SL 1966, ch 111, ch 25, § 28.