Arkansas Code Title 23, Subtitle 3, Chapter 82 - Industrial Life Insurance

• § 23-82-101 - Definition.
  For the purpose of this code, unless the context otherwise requires, "industrial life insurance" is that form of life insurance written under policies of...
• § 23-82-102 - Scope.
  The provisions of this chapter apply only to industrial life insurance policies. The following sections shall also apply to industrial life insurance: (1) Section...
• § 23-82-103 - Application to Term and Specified Insurance.
  Any of the provisions required by §§ 23-82-105 -- 23-82-117 or any portion thereof which are not applicable to single premium or term policies...
• § 23-82-104 - Policies Prohibited.
  No policy of industrial life insurance shall be offered, delivered, or issued for delivery in this state on or after January 1, 1988.
• § 23-82-105 - Grace Period Provision.
  (a) There shall be a provision that the insured is entitled to a grace period of four (4) weeks within which the payment of...
• § 23-82-106 - Integrity of Contract and Application Provision.
  (a) There shall be a provision that the policy shall constitute the entire contract between the parties or, if a copy of the application...
• § 23-82-107 - Incontestability Provision.
  There shall be a provision that the policy, exclusive of provisions relating to disability benefits or to additional benefits in the event of death...
• § 23-82-108 - Misstatement of Age Provision.
  (a) There shall be a provision that if it is found that the age of the individual insured or the age of any other...
• § 23-82-109 - Dividend Provision.
  (a) If the industrial life insurance policy is a participating policy, there shall be a provision that the insurer shall annually ascertain and apportion...
• § 23-82-110 - Nonforfeiture Benefits and Cash Surrender Value Provisions.
  There shall be provisions for nonforfeiture benefits and cash surrender values as required by the Standard Nonforfeiture Law for Life Insurance, § 23-81-201 et
• § 23-82-111 - Reinstatement Provision.
  There shall be a provision that unless the policy has been surrendered for its cash surrender value or unless the paid-up term insurance, if...
• § 23-82-112 - Settlement Provision.
  There shall be a provision that when the policy becomes a claim by the death of the insured, settlement shall be made upon surrender...
• § 23-82-113 - Authority to Alter Contract Provision.
  There shall be a provision that no agent shall have the power or authority to waive, change, or alter any of the terms or...
• § 23-82-114 - Designation of Beneficiary -- Payment Upon Insured's Death.
  (a) Each policy shall have a space for the name of the beneficiary designated with a reservation of the right to designate or change...
• § 23-82-115 - Direct Payment of Premiums Provision.
  In the case of weekly premium policies, there may be a provision that upon proper notice to the insurer, while premiums on the policy...
• § 23-82-116 - Conversion Provision.
  (a) There may be a provision in the case of industrial policies granting to the insured, upon proper written request and upon presentation of...
• § 23-82-117 - Title Required.
  There shall be a title on the face of each policy briefly describing its form.
• § 23-82-118 - Prohibited Provisions.
  No policy of industrial life insurance shall contain any of the following provisions: (1) A provision by which the insurer may deny liability under...

Last modified: November 15, 2016