reglab/housing_qa huggingface dataset:
WY Stat § 26-16-301 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 3 - Nonforfeiture Benefits on Old Policies|Section 26-16-301 - Nonforfeiture Benefits on Old Policies.

26-16-301. Nonforfeiture benefits on old policies.| (a) In the case of policies referred to in W.S. 26-16-102 and issued prior to the operative date of article 2 of this chapter, there shall be a provision which, in case of default in premium payments after premiums are paid for three (3) years, shall secure to the policy owner, as a nonforfeiture benefit, a stipulated form of insurance, the net value of which is at least equal to the minimum life insurance reserve at the date of the default on the policy and on any dividend addition thereto, as required by article 2 of chapter 6 of this code, less a sum not more than two and one-half percent (2 1/2%) of the amount insured by the policy and of any existing dividend additions thereto, and less any existing indebtedness to the insurer on or secured by the policy.  (b) The net value specified in subsection (a) of this section shall be determined on the basis of a mortality table and rate of interest stated in the policy and acceptable for the valuation of the policy pursuant to the standard valuation law, except that if the mortality table is a more modern table than the American experience table of mortality, a mortality rate not more than one hundred thirty percent (130%) of the mortality rate according to the more modern table may be used in calculating any extended insurance, with accompanying pure endowment, if any, offered as a nonforfeiture benefit. If the mortality table used as the basis of determining the net value is the commissioners' 1958 standard ordinary mortality table, the mortality rates to be assumed in calculating any extended insurance, with accompanying pure endowment, if any, shall not be more than those shown in the commissioners' 1958 extended term insurance table.  (c) The provision specified in subsection (a) of this section shall:  (i) Stipulate that the policy may be surrendered to the insurer at its home office within one (1) month from date of default, for a specified cash value equal to the sum which would otherwise be available for the purchase of insurance as specified in subsection (a) of this section, and may stipulate that the insurer may defer payment for not more than six (6) months after the application therefor is made;  (ii) Contain a table showing the options available under the policy each year upon default in premium payments during the first twenty (20) years of the policy, or during the term of the policy whichever is shorter;  (iii) Not be required in term insurances of twenty (20) years or less or in industrial life insurance policies.
WY Stat § 26-16-401 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 4 - Standard Nonforfeiture Law for Individual Deferred Annuities|Section 26-16-401 - Short Title.

26-16-401. Short title.| This article is known as the "Standard Nonforfeiture Law For Individual Deferred Annuities".
WY Stat § 26-16-402 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 4 - Standard Nonforfeiture Law for Individual Deferred Annuities|Section 26-16-402 - Applicability of Article.

26-16-402. Applicability of article.| (a) This article does not apply to any:  (i) Reinsurance;  (ii) Group annuity purchased under a retirement plan or plan of deferred compensation established or maintained by an employer, an employee organization, or both, other than a plan providing individual retirement accounts or annuities under Section 408 of the Internal Revenue Code;  (iii) Premium deposit fund;  (iv) Variable annuity;  (v) Investment annuity;  (vi) Immediate annuity;  (vii) Deferred annuity contract after annuity payments have commenced;  (viii) Reversionary annuity; or  (ix) Contract which is delivered outside this state through an agent or other representative of the company issuing the contract.
WY Stat § 26-16-405 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 4 - Standard Nonforfeiture Law for Individual Deferred Annuities|Section 26-16-405 - Present Value of Paid-Up Annuity Benefits.

26-16-405. Present value of paid-up annuity benefits.| Any paid-up annuity benefit available under a contract shall be such that its present value on the date annuity payments are to commence is at least equal to the minimum nonforfeiture amount on that date. The present value shall be computed using the mortality table and the interest rate specified in the contract for determining the minimum paid-up annuity benefits guaranteed in the contract.
WY Stat § 26-16-406 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 4 - Standard Nonforfeiture Law for Individual Deferred Annuities|Section 26-16-406 - Calculating Cash Surrender Benefits Available Prior to Contract Maturity.

26-16-406. Calculating cash surrender benefits available prior to contract maturity.| (a) For contracts which provide cash surrender benefits, cash surrender benefits available prior to maturity shall not be less than an amount determined as follows:  (i) Determine the present value as of the date of surrender of that portion of the maturity value of the paid-up annuity benefit which would be provided under the contract at maturity, arising from considerations paid prior to the time of cash surrender;  (ii) The amount determined in paragraph (i) of this subsection shall be reduced by the amount appropriate to reflect any prior withdrawals from or partial surrenders of the contract with the present value being calculated on the basis of an interest rate not more than one percent (1%) higher than the interest rate specified in the contract for accumulating the net considerations to determine the maturity value;  (iii) The amount determined in paragraph (ii) of this subsection shall be decreased by the amount of any indebtedness to the company on the contract, including interest due and accrued; and  (iv) The amount determined in paragraph (iii) of this subsection shall be increased by any existing additional amounts credited by the company to the contract. In no case shall any cash surrender benefit be less than the minimum nonforfeiture amount at that time. The death benefit under the contracts shall be at least equal to the cash surrender benefit.
WY Stat § 26-16-407 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 4 - Standard Nonforfeiture Law for Individual Deferred Annuities|Section 26-16-407 - Minimum Paid-Up Annuity Benefit Available as a Nonforfeiture Option.

26-16-407. Minimum paid-up annuity benefit available as a nonforfeiture option.| For contracts which do not provide cash surrender benefits, the present value of any paid-up annuity benefit available as a nonforfeiture option at any time prior to maturity shall not be less than the present value of that portion of the maturity value of the paid-up annuity benefit provided under the contract arising from considerations paid prior to the time the contract is surrendered in exchange for, or changed to, a deferred paid-up annuity, with the present value being calculated for the period prior to the maturity date on the basis of the interest rate specified in the contract for accumulating the net considerations to determine the maturity value, and increased by any existing additional amounts credited by the company to the contract. For contracts which do not provide any death benefits prior to the commencement of any annuity payments, the present values shall be calculated on the basis of the interest rate and the mortality table specified in the contract for determining the maturity value of the paid-up annuity benefit. The present value of a paid-up annuity benefit shall not be less than the minimum nonforfeiture amount at that time.
WY Stat § 26-16-408 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 4 - Standard Nonforfeiture Law for Individual Deferred Annuities|Section 26-16-408 - Annuity Contract Optional Maturity Dates.

26-16-408. Annuity contract optional maturity dates.| For the purpose of determining the benefits calculated under W.S. 26-16-406 and 26-16-407 in the case of annuity contracts under which an election may be made to have annuity payments commence at optional maturity dates, the maturity date is the latest date for which election is permitted by the contract, but not later than the anniversary of the contract immediately following the annuitant's seventieth birthday or the tenth anniversary of the contract, whichever is later.
WY Stat § 26-16-409 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 4 - Standard Nonforfeiture Law for Individual Deferred Annuities|Section 26-16-409 - Calculating Benefits Under Contracts With Fixed Schedule Considerations.

26-16-409. Calculating benefits under contracts with fixed schedule considerations.| Any paid-up annuity, cash surrender or death benefits available at any time, other than on the contract anniversary, under any contract with fixed scheduled considerations, shall be calculated with allowance for the lapse of time and the payment of any scheduled considerations beyond the beginning of the contract year in which cessation of payment of considerations under the contract occurs.
WY Stat § 26-16-410 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 4 - Standard Nonforfeiture Law for Individual Deferred Annuities|Section 26-16-410 - Calculating Minimum Annuity and Life Insurance Nonforfeiture Benefits When Included by Rider or Supplemental Contract Provision.

26-16-410. Calculating minimum annuity and life insurance nonforfeiture benefits when included by rider or supplemental contract provision.| For any contract which provides therein, by rider or supplemental contract provision, both annuity benefits and life insurance benefits that exceed the greater of cash surrender benefits or a return of the gross considerations with interest, the minimum nonforfeiture benefits shall be equal to the sum of the minimum nonforfeiture benefits for the annuity portion and the minimum nonforfeiture benefits, if any, for the life insurance portion computed as if each portion were a separate contract. Notwithstanding W.S. 26-16-405 through 26-16-409 additional benefits payable in case of total and permanent disability, as reversionary annuity or deferred reversionary annuity benefits or as other policy benefits additional to life insurance, endowment and annuity benefits, and considerations for all those additional benefits, shall be disregarded in ascertaining the minimum nonforfeiture amounts, paid-up annuity, cash surrender and death benefits required by this article. The inclusion of the additional benefits is not required in any paid-up benefits, unless the additional benefits separately would require minimum nonforfeiture amounts, paid-up annuity, cash surrender and death benefits.
WY Stat § 26-16-411 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 4 - Standard Nonforfeiture Law for Individual Deferred Annuities|Section 26-16-411 - Operative Date of Article.

26-16-411. Operative date of article.| (a) After May 20, 1981, any company may file with the commissioner a written notice of its election to comply with this article after a specified date before May 20, 1983. After filing the notice, then upon the specified date, which is the operative date of this article for that company, this article is operative with respect to annuity contracts thereafter issued by that company. If a company does not make an election, the operative date of this article for that company is May 20, 1983.  (b) Beginning July 1, 2006, any company may elect to apply the provisions of this article on a contract form by contract form basis to all annuity contracts thereafter issued.  (c) On or after July 1, 2007, this article is operative with respect to all annuity contracts thereafter issued.
WY Stat § 26-16-501 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 5 - Miscellaneous Provisions|Section 26-16-501 - Incontestability and Limitation of Liability After Reinstatement.

26-16-501. Incontestability and limitation of liability after reinstatement.| (a) A reinstated life insurance policy or annuity contract may be contested because of fraud or misrepresentation of facts material to the reinstatement only for the same period following reinstatement and with the same conditions and exceptions as the policy provides for contestability after original issuance.  (b) If any life insurance policy or annuity contract is reinstated, the reinstated policy or contract may exclude or restrict liability to the same extent that the liability could have been or was excluded or restricted when the policy or contract was originally issued. The exclusion or restriction is effective from the date of reinstatement.
WY Stat § 26-16-503 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 5 - Miscellaneous Provisions|Section 26-16-503 - Insurer Issuing Participating and Nonparticipating Policies; Records.

26-16-503. Insurer issuing participating and nonparticipating policies; records.| (a) Any life insurer issuing both participating and nonparticipating policies shall maintain any accounting records necessary for it to determine dividends to participating policyholders on an equitable basis.  (b) In the accounting records the insurer shall make a reasonable allocation as between participating and nonparticipating policies of the expenses of the general operations or functions as are jointly shared. Any allocation of expense as between categories shall be made upon a reasonable basis, to the end that each category shall bear a just portion of joint expense involved in the administration of the business of that category.  (c) No policy shall provide for and no life insurer or representative shall knowingly offer or promise payment, credit, or distribution of participating "dividends", "earnings", "profits" or "savings", by whatever name called, to participating policies out of the profits, earnings or savings on nonparticipating policies. This provision does not restrict the generality of W.S. 26-13-110.
WY Stat § 26-18-101 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 18 - Disability Insurance Policies|Article 1 - General Provisions|Section 26-18-101 - Short Title.

26-18-101. Short title.| This chapter may be cited as the "Uniform Disability Policy Provision Law".
WY Stat § 26-18-102 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 18 - Disability Insurance Policies|Article 1 - General Provisions|Section 26-18-102 - Scope and Applicability of Chapter.

26-18-102. Scope and applicability of chapter.| (a) Nothing in this chapter applies to or affects:  (i) Any policy of liability or worker's compensation insurance with or without supplementary expense coverage therein;  (ii) Any group or blanket policy;  (iii) Life insurance, endowment or annuity contracts, or contracts supplemental thereto which contain only those provisions relating to disability insurance as:  (A) Provide additional benefits in case of death or dismemberment or loss of sight by accident or accidental means; or  (B) Operate to safeguard the contracts against lapse, or to give a special surrender value or special benefit or an annuity in case the insured or annuitant is totally and permanently disabled as defined by the contract or supplemental contract.  (iv) Reinsurance;  (v) Any contract made or issued prior to January 1, 1968, together with any extensions, renewals, reinstatements or modifications thereof or amendments thereto whenever made.
WY Stat § 26-18-104 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 18 - Disability Insurance Policies|Article 1 - General Provisions|Section 26-18-104 - Standard Policy Provisions; Substitutions and Omissions.

26-18-104. Standard policy provisions; substitutions and omissions.| (a) Except as provided in subsection (b) of this section, any policy delivered or issued for delivery to any person in this state shall contain the provisions specified in W.S. 26-18-105 through 26-18-116, in the words in which the provisions appear, except that with the commissioner's approval the insurer may substitute for any of the provisions corresponding provisions of different wording which are in each instance not less favorable in any respect to the insured or the beneficiary. Each such provision shall be preceded individually by the applicable caption shown, or, at the insurer's option, by any appropriate individual or group captions or subcaptions the commissioner approves.  (b) If any provision or part thereof is inapplicable to or inconsistent with the coverage provided by a particular form of policy, the insurer, with the commissioner's approval, shall omit from the policy the inapplicable provision or part and shall modify any inconsistent provision or part to make the provision as contained in the policy consistent with the coverage the policy provides.
WY Stat § 26-18-105 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 18 - Disability Insurance Policies|Article 1 - General Provisions|Section 26-18-105 - Policy Constitutes Entire Contract; Changes in Policy.

26-18-105. Policy constitutes entire contract; changes in policy.| "Entire Contract; Changes: This policy, including the endorsements and the attached papers, if any, constitutes the entire contract of insurance. No change in this policy is valid until approved by an executive officer of the insurer and unless the approval is endorsed on or attached to this policy. No agent has authority to change this policy or to waive any of its provisions."
WY Stat § 26-18-106 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 18 - Disability Insurance Policies|Article 1 - General Provisions|Section 26-18-106 - Time Limit on Certain Defenses.

26-18-106. Time limit on certain defenses.| (a) "Time Limit on Certain Defenses: After three (3) years from the date of issue of this policy no misstatements, except fraudulent misstatements, made by the applicant in the application for the policy shall be used to void the policy or to deny a claim for loss incurred or disability, as defined in the policy, commencing after the expiration of the three (3) year period."  (i) This time limit shall not be so construed as to affect any legal requirement for avoidance of a policy or denial of a claim during the initial three (3) year period, nor to limit the application of W.S. 26-18-118 through 26-18-121 in case of misstatement with respect to age or occupation or other insurance;  (ii) A policy which the insured has the right to continue in force subject to its terms by the timely payment of premium until at least age fifty (50) or in the case of a policy issued after age forty-four (44), for at least five (5) years from its date of issue, may contain instead of the "time limit on certain defenses" provision of this section the following provision (from which paragraph (i) of this subsection may be omitted at the insurer's option) under the caption "Incontestable: After this policy is in force for a period of three (3) years during the insured's lifetime, excluding any period during which the insured is disabled, it is incontestable as to the statements contained in the application."  (b) "Except for the preexisting condition provision stated in this subsection, no claim for loss incurred or disability, as defined in the policy, shall be reduced or denied due to a preexisting condition not excluded from coverage by name or specific description effective on the date of loss. This preexisting condition provision shall not exclude coverage for a period beyond twelve (12) months following the individual's effective date of coverage and shall only relate to conditions for which medical advice, diagnosis, care or treatment was recommended or received during the six (6) months immediately preceding the effective date of coverage or as to a pregnancy existing on the effective date of coverage."  (c) In determining whether a preexisting condition provision applies to an insured or dependent, all private or public health benefit plans shall credit the time the person was previously covered by a private or public health benefit plan if the previous coverage was continuous to a date not more than ninety (90) days prior to the effective date of the new coverage. In the case of a preexisting conditions limitation allowable in the succeeding carrier's plan, the level of benefits applicable to preexisting conditions or persons becoming covered by the succeeding carrier's plan during the period of time this limitation applies under the new plan shall be the lesser of:  (i) The benefits of the new plan determined without application of the preexisting conditions limitation; or  (ii) The benefits of the prior plan.
WY Stat § 26-18-107 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 18 - Disability Insurance Policies|Article 1 - General Provisions|Section 26-18-107 - Grace Period.

26-18-107. Grace period.| (a) "A grace period of .... (insert a number not less than "7" for weekly premium policies, "10" for monthly premium policies and "31" for all other policies) days shall be granted for the payment of each premium falling due after the first premium, during which grace period the policy shall continue in force."  (b) A policy in which the insurer reserves the right to refuse any renewal shall have at the beginning of the provision specified in subsection (a) of this section: "Unless not less than five (5) days prior to the premium due date the insurer delivers to the insured or mails to his address, as shown by the insurer's records, written notice of its intention not to renew this policy beyond the period for which the premium has been accepted."
WY Stat § 26-18-108 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 18 - Disability Insurance Policies|Article 1 - General Provisions|Section 26-18-108 - Reinstatement.

26-18-108. Reinstatement.| (a) "Reinstatement: If any renewal premium is not paid within the time granted the insured for payment, a subsequent acceptance of premium by the insurer or by any agent authorized by the insurer to accept the premium, without requiring an application for reinstatement, reinstates the policy. If the insurer or the agent requires an application for reinstatement and issues a conditional receipt for the premium tendered, the policy shall be reinstated upon the insurer's approval of the application, or, lacking that approval, upon the forty-fifth day following the date of the conditional receipt unless the insurer previously notified the insured in writing of its disapproval of the application. The reinstated policy covers only loss resulting from an accidental injury sustained after the date of reinstatement and loss due to any sickness beginning more than ten (10) days after that date. In all other respects the insured and insurer have the same rights under the policy as they had immediately before the due date of the defaulted premium, subject to any provisions endorsed on or attached to this policy in connection with the reinstatement. Any premium accepted in connection with a reinstatement shall be applied to a period for which premium has not been previously paid, but not to any period more than sixty (60) days prior to the date of reinstatement."  (b) The last sentence of the provision in subsection (a) of this section may be omitted from any policy which the insured has the right to continue in force subject to its terms by the timely payment of premiums:  (i) Until at least age fifty (50); or  (ii) In the case of a policy issued after age forty-four (44), for at least five (5) years from its date of issue.