A policy of industrial life insurance may not contain a provision
(1) by which the insurer may deny liability under the policy for the reason that the insured has previously obtained other insurance from the same insurer;
(2) giving the insurer the right to declare the policy void on the grounds that the insured has had a disease or ailment, whether specified or not, or that the insured has received institutional, hospital, medical, or surgical treatment or attention, except the policy may contain a provision that gives the insurer the right to declare the policy void if the insured has, within two years before the issuance of the policy, received institutional, hospital, medical, or surgical treatment or attention and the insured or claimant under the policy fails to show that the condition occasioning the treatment or attention was not of a serious nature or was not material to the risk;
(3) giving the insurer the right to declare the policy void because the insured has been rejected for insurance by another insurer, unless the right is conditioned upon a showing by the insurer that knowledge of the rejection would have led to a refusal by the insurer to make the contract.
Section: Previous 21.45.190 21.45.200 21.45.210 21.45.220 21.45.230 21.45.240 21.45.250 21.45.260 21.45.270 21.45.280 21.45.290 21.45.300 21.45.305 21.45.310 21.45.320 NextLast modified: November 15, 2016