Consent of insured to life or health insurance required; exceptions; notice of application for or request to increase coverage of insurance upon life of another required.
1. Except as otherwise provided in subsection 2, no life or health insurance contract upon a person, except a contract of group life insurance or of group or blanket health insurance, may be made or effectuated unless at the time of the making of the contract the person insured, being of competent legal capacity to contract, applies therefor or has consented thereto in writing.
2. The following persons may enter into a contract for life or health insurance upon another person without the insured’s written consent:
(a) A spouse may effectuate such insurance upon the other spouse.
(b) Any person having an insurable interest in the life of a minor, or any person upon whom a minor is dependent for support and maintenance, may effectuate insurance upon the life of or pertaining to the minor.
(c) Family policies may be issued insuring any two or more members of a family on an application signed by either parent, a stepparent, a guardian, or by a husband or wife.
3. An insurer who receives:
(a) An application in accordance with subsection 2 for a contract for insurance upon the life of another; or
(b) A request to increase the existing coverage upon the life of an insured by a person other than the insured,
Ê shall, unless the application or request relates to a contract of group life insurance or of group or blanket health insurance, cause notice of the application or request to be mailed to the insured at his home or business within 48 hours after receiving the application or request.
Last modified: February 27, 2006