Except as provided in AS 21.45.210 , if any statements, other than those relating to age, sex, and identity are required as a condition to issuing an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, there shall be a provision that the contract is incontestable after it has been in force during the lifetime of the person or of each of the persons as to whom the statements are required, for a period of two years from its date of issue, except for nonpayment of stipulated payments to the insurer; and at the option of the insurer the contract may also except provisions relative to benefits in the event of disability and provisions that grant insurance specifically against death by accident or accidental means.
Section: Previous 21.45.120 21.45.130 21.45.140 21.45.150 21.45.160 21.45.170 21.45.180 21.45.190 21.45.200 21.45.210 21.45.220 21.45.230 21.45.240 21.45.250 21.45.260 NextLast modified: November 15, 2016