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2013 South Dakota Codified Laws
Title 58 - INSURANCE
Chapter 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 accidentbenefits.
- § 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 applicantnot 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 placementpolicies.
- § 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 Repealed.
- § 58-15-15.3 Repealed.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 interestrate.
- § 58-15-15.8 Insurance policy loan--Determination of interest under adjustablemaximum 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 priorcontracts.
- § 58-15-15.13 Private placement policy defined.
- § 58-15-16 Loans on policies issued prior to the adoption of standard policyprovisions--Loan value--Deferment of application--Private placementpolicies.
- § 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 lifeinsurance policies.
- § 58-15-21 Nonforfeiture of benefits--Cash surrender value--Provisions required inpolicies.
- § 58-15-22 Reinstatement provisions required in policy.
- § 58-15-23 Participating policies--Annual dividends, ascertainment, andapportionment.
- § 58-15-24 Participating policies--Rights of policyholder to dividends.
- § 58-15-25 Participating industrial life insurance policies--Annual participation ofpolicy 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 lumpsum 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 ofbeneficiary--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 standardnonforfeiture law.
- § 58-15-31 Nonforfeiture benefits in policies issued under standard nonforfeiture law.
- § 58-15-32 Nonforfeiture benefit provisions which may be omitted--Deferred paymentof cash surrender value--Private placement policies.
- § 58-15-33 Cash surrender value--Amount available under policy on default ofpremium--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 ofpremiums.
- § 58-15-37 Adjusted premiums--Term insurance benefits provided by rider orsupplemental policy.
- § 58-15-38 Adjusted premiums and present values--Computation.
- § 58-15-39 Default in payment of premium--Computation of cash surrender value andpaid-up nonforfeiture benefit.
- § 58-15-40 Additional accident benefits--Premiums disregarded in ascertaining cashsurrender value.
- § 58-15-41 Nonforfeiture benefit provision inapplicable to reinsurance, groupinsurance, annuity contracts, or term insurance.
- § 58-15-42 Notice by company of election to comply with nonforfeiture benefitprovisions--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 afterchange.
- § 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--Applicableprocedures and tables.
- § 58-15-43.9 Nonforfeiture interest rate per annum.
- § 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 annuityinsurance producer of insured.
- § 58-15-48 Prohibited policy provisions--Construction of contract according to lawsof other state or country.
- § 58-15-49 Prohibited policy provisions--Rights and obligations of insured undercontract governed by law of other state.
- § 58-15-50 Prohibited policy provisions--Depriving courts of jurisdiction of actionagainst insurer.
- § 58-15-51 Limitation of action on policy--Minimum time.
- § 58-15-52 Prohibited policy provisions inapplicable to group life insurance, healthinsurance, reinsurance, annuities, and accident benefits under lifeinsurance 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 liabilitybecause of other insurance.
- § 58-15-55 Prohibited policy provisions in industrial life insurance--Right to declarepolicy void because of disease or ailment of insured.
- § 58-15-56 Prohibited policy provisions in industrial life insurance--Right to declarepolicy 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 todeferred annuities under life insurance policies.
- § 58-15-59 Annuities and endowments--Entire agreement contained in contract andapplication.
- § 58-15-59.1 Right of annuitant or purchaser to cancel after receipt of contract--Effectof 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 andapportionment 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 annuitiesor to annuities included in life insurance policies.
- § 58-15-68 Incontestability provisions after reinstatement of life insurance policy orannuity 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 byrule--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--Minimumnonforfeiture 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 deathbenefits prior to commencement of payments--Present value calculations.
- § 58-15-89 Election to have payments commence at optional maturity date--Maturitydate used for calculation of benefits.
- § 58-15-90 Contracts without cash surrender benefits or death benefits at least equalto minimum nonforfeiture amount--Statement in contract.
- § 58-15-91 Lapse of time and payments beyond cessation year allowed forcalculations.
- § 58-15-92 Annuity and life insurance benefits in excess of greater of cash surrenderbenefits or return of gross considerations with interest--Minimumnonforfeiture benefits--Additional benefits.
- § 58-15-93 Election to apply provisions of §§ 58-15-83 to 58-15-93 to annuitycontracts--Application of provisions after second anniversary.
Disclaimer: These codes may not be the most recent version. South Dakota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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