Alaska Statutes Title 21, Chapter 21.45 - Life Insurance and Annuities

• Sec. 21.45.010 Applicability.
  This chapter applies only to contracts of life insurance and annuities, other than reinsurance, group life insurance, and group annuities.
• Sec. 21.45.020 Standards Provisions Required; Return and Refund.
  (a) A policy of life insurance, other than group and pure endowments with or without return of premiums or of premiums and interest, may...
• Sec. 21.45.030 Grace Period.
  There shall be a provision that a grace period of 30 days, or, at the option of the insurer, of one month of not...
• Sec. 21.45.040 Incontestability.
  There shall be a provision that the policy, exclusive of provisions relating to health insurance benefits or to additional benefits in the event of...
• Sec. 21.45.050 Entire Contract.
  There shall be a provision that the policy, or the policy and the policy application if a copy of the application is endorsed upon...
• Sec. 21.45.060 Misstatement of Age.
  Except as provided in AS 21.45.210 , there shall be a provision that if the age of the insured or of another person whose...
• Sec. 21.45.070 Dividends.
  (a) Except as provided in AS 21.45.220 , there shall be a provision in participating policies that, beginning not later than the end of...
• Sec. 21.45.080 Policy Loan.
  (a) There shall be a provision that after three full years' premiums have been paid and after the policy has a cash surrender value...
• Sec. 21.45.090 Table of Values.
  There shall be a table showing in figures the loan value, if required under AS 21.45.080 , and the cash surrender values and nonforfeiture...
• Sec. 21.45.100 Table of Installments.
  In case the policy provides that the proceeds may be payable in installments which are determinable at issue of the policy, there shall be...
• Sec. 21.45.110 Reinstatement.
  Except as provided in AS 21.45.230 , there shall be a provision that unless (1) the policy has been surrendered for its cash surrender...
• Sec. 21.45.120 Payment of Premiums.
  There shall be a provision relative to the payment of premiums.
• Sec. 21.45.130 Payment of Claims.
  There shall be a provision that when a policy becomes a claim by the death of the insured, settlement shall be made upon receipt...
• Sec. 21.45.140 Beneficiary, Industrial Policies.
  An industrial life insurance policy must have the name of the beneficiary designated on it with a reservation of the right to designate or...
• Sec. 21.45.150 Title.
  There shall be a title on the policy, briefly describing it.
• Sec. 21.45.160 Excluded or Restricted Coverage.
  A clause in a policy of life insurance stating that the policy shall be incontestable after a specified period precludes only a contest of...
• Sec. 21.45.170 Standard Provisions: Annuity and Pure Endowment Contracts.
  (a) An annuity or pure endowment contract, other than a reversionary annuity, survivorship annuity, or group annuity, may not be delivered or issued for...
• Sec. 21.45.180 Grace Period: Annuities.
  In an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, there shall be a provision for a grace period...
• Sec. 21.45.190 Incontestability: Annuities.
  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...
• Sec. 21.45.200 Entire Contract.
  In an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, there shall be a provision that the contract constitutes...
• Sec. 21.45.210 Misstatement of Age or Sex: Annuities.
  In an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, there shall be a provision that if the age...
• Sec. 21.45.220 Dividends: Annuities.
  If an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, is participating, there shall be a provision that the...
• Sec. 21.45.230 Reinstatement: Annuities.
  In an annuity or pure endowment contract, other than a reversionary, survivorship, or group annuity, there shall be a provision that the contract may...
• Sec. 21.45.240 Standard Provisions: Reversionary Annuities.
  (a) Except as stated herein, a contract for a reversionary annuity may not be delivered or issued for delivery in this state unless it...
• Sec. 21.45.250 Limitation of Liability.
  (a) A policy of life insurance may not be delivered or issued for delivery in this state if it contains a provision(1) for a...
• Sec. 21.45.260 Prohibited Provisions: Industrial Life Insurance.
  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...
• Sec. 21.45.270 Incontestability, Limitation of Liability After Reinstatement.
  (a) A reinstated policy of life insurance or annuity contract may be contested on account of fraud or misrepresentation of facts material to the...
• Sec. 21.45.280 Policy Settlements.
  A life insurer shall have the power to hold under agreement the proceeds of any policy issued by it, upon the terms and restrictions...
• Sec. 21.45.290 Indebtedness Deducted From Proceeds.
  In determining the amount due under a life insurance policy, whether issued before or after July 1, 1966, deduction may be made of(1) unpaid...
• Sec. 21.45.300 Standard Nonforfeiture Law for Life Insurance.
  (a) This section shall be known as the standard nonforfeiture law for life insurance.(b) In the case of policies issued on and after the...
• Sec. 21.45.305 Standard Nonforfeiture Law for Individual Deferred Annuities.
  (a) This section does not apply to any reinsurance, group annuity purchased under a retirement plan or plan of deferred compensation established or maintained...
• Sec. 21.45.310 Prohibited Policy Plans.
  (a) An insurer may not issue for delivery or deliver in this state a life insurance policy or annuity contract issued under any plan...
• Sec. 21.45.320 Industrial Life Insurance Defined. [Repealed, Sec. 17 Ch 21 Sla 1985].
  Repealed or Renumbered

Last modified: November 15, 2016