reglab/housing_qa huggingface dataset:
MN Stat § 61A.01 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 61A — Life Insurance|Section 61A.01 — Life Insurance Company Defined.

61A.01 LIFE INSURANCE COMPANY DEFINED. Every corporation or association, domestic or foreign, operating upon any plan involving payment of money or other thing of value to policy or certificate holders, or members, or families, or representatives of either, conditioned upon the continuance or cessation of human life, or for the payment of endowments or annuities (except benevolent, fraternal, cooperative or secret societies of orders for the sole purpose of mutual welfare, protection and relief of their members and the payment of stipulated amounts, or the proceeds of assessments, to the families of deceased members), shall be deemed a life insurance company, and wherever used in this chapter, the terms "company," "life company," "corporation" or "association" shall be construed to mean life insurance company unless the context clearly indicates otherwise. History:   1967 c 395 art 2 s 1
MN Stat § 61A.021 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 61A — Life Insurance|Section 61A.021 — Sale Of Life Insurance And Annuity As Single Policy Prohibited.

61A.021 SALE OF LIFE INSURANCE AND ANNUITY AS SINGLE POLICY PROHIBITED. Subdivision 1. Sale as single policy prohibited. The sale of a life insurance product and an annuity as a single policy, whether in the form of a life insurance policy with an annuity rider or otherwise, is prohibited in this state. This subdivision does not prohibit the simultaneous sale of these products, but the sale must involve two separate and distinct policies. Subd. 2. Tying prohibited. The tying of the sale of a life insurance product and an annuity is expressly prohibited. The sale of one policy cannot be conditioned upon the sale of a second policy. A violation of subdivision 1 is an unfair and deceptive trade practice under chapter 72A. Subd. 3. Exemption. The commissioner may exempt by order such a product from this section if it is in the public interest. Subd. 4. Implementation. This section applies to all sales where applications are completed on or after July 1, 1985. History:   1Sp1985 c 10 s 56
MN Stat § 61A.031 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 61A — Life Insurance|Section 61A.031 — Suicide Provisions.

61A.031 SUICIDE PROVISIONS. The sanity or insanity of a person shall not be a factor in determining whether a person committed suicide within the terms of an individual or group life insurance policy regulating the payment of benefits in the event of the insured's suicide. This section shall not be construed to alter present law but is intended to clarify present law. History:   1981 c 286 s 1
MN Stat § 61A.04 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 61A — Life Insurance|Section 61A.04 — Spendthrift Provisions.

61A.04 SPENDTHRIFT PROVISIONS. In addition to the provisions now required by law to be in the standard form of life insurance policies issued or delivered in this state, there shall be, when such policy provides for the payment to the beneficiary the proceeds thereof, in either monthly, quarterly, semiannual or annual installments, to continue during the lifetime of the beneficiary, or for a stipulated number of years, whenever requested by the insured under the policy, the following provisions: All rights of the beneficiary to commute, change time of payment or amount of installments, surrender for cash, borrow against or assign for any purpose, are hereby withdrawn and those parts of this policy giving the beneficiary such rights are hereby declared inoperative and void; it being the intent hereof that the beneficiary shall have no right under this contract except to receive the installments at such times and in such amounts as stated in this policy, and all the provisions of this policy in conflict herewith are hereby declared to be inoperative. This provision may be attached to any policy in the form of a rider thereon, and, when so attached, shall become a part of and form a part of the contract of insurance, evidenced by the policy to all intents and purposes as if set forth at length therein. History:   1967 c 395 art 2 s 4
MN Stat § 61A.05 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 61A — Life Insurance|Section 61A.05 — Life Policies To Contain Entire Contract.

61A.05 LIFE POLICIES TO CONTAIN ENTIRE CONTRACT. Every policy of insurance issued or delivered within this state on or after the first day of January, 1908, by any life insurance corporation doing business within the state, shall contain the entire contract between the parties. Every policy which contains a reference to the application, either as a part of the policy or as having any bearing thereon, shall have a copy of such application attached thereto or set out therein. History:   1967 c 395 art 2 s 5
MN Stat § 61A.06 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 61A — Life Insurance|Section 61A.06 — Aviation And War Risk Exclusion Permitted.

61A.06 AVIATION AND WAR RISK EXCLUSION PERMITTED. Policies of life insurance may be delivered or issued for delivery in this state which limit the amount to be paid in the event of death occurring as a result of travel or flight in, or descent from or with, any kind of aircraft if the insured (1) is a pilot, officer or member of the crew of such aircraft, or is participating in aeronautic or aviation training during such flight, or (2) is in the military, naval or air forces of any country and is being transported in a military, naval or air force aircraft. Such amount shall not be less than the reserve on the policy plus any dividends standing to the credit of the policy and the reserve for any paid-up additions, less any indebtedness to the company on the policy. Such limitation may be made by a provision in the policy or by a rider made a part thereof provided, that no such limitation shall be effective unless and until the insured or applicant shall agree in writing thereto; and provided, further, that except in case of policies issued on the lives of persons who have received aeronautic or aviation training or whose occupation entails duty aboard aircraft in flight, such limitation shall apply only in event death occurs within five years after date of issue of the policy. This section shall not affect the validity of provisions which limit the amount to be paid in the event of death of the insured while in the military, naval or air forces of any country at war, or of provisions relative to benefits in the event of total and permanent disability, or of provisions which grant additional insurance specifically against death by accident. Policies issued by life insurance companies organized under the laws of this state for delivery in any other state, territory, district, or country may contain any provisions limiting the amount to be paid in the event of death which are permitted by the laws of such other state, territory, district, or country. History:   1967 c 395 art 2 s 6
MN Stat § 61A.07 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 61A — Life Insurance|Section 61A.07 — Prohibited Provisions.

61A.07 PROHIBITED PROVISIONS. No policy of life insurance shall be issued or delivered in this state, or be issued by a life insurance company organized under the laws of this state, if it contains a provision: (1) for forfeiture of the policy for failure to repay any loan on the policy or to pay interest on such loan while the total indebtedness on the policy is less than the loan value thereof; or for forfeiture for failure to repay any such loan or to pay interest thereon, unless such provision contain a stipulation that no such forfeiture shall occur until at least one month after notice shall have been mailed by the company to the last known address of the insured and of the assignee, if any, notice of whose address and contract of the assignment has been filed with the company, at its home office; or (2) in a life policy or annuity contract, limiting the time within which any action at law or in equity may be commenced to less than five years after the cause of action shall accrue; or (3) by which the policy shall purport to be issued or to take effect more than six months before the original application for the insurance was made; or (4) for any mode of settlement at maturity of less value than the amount insured on the face of the policy plus any dividend additions, less any indebtedness to the company on the policy, and less any premium that may be deducted by the terms of the policy. History:  1967 c 395 art 2 s 7; 1994 c 485 s 17
MN Stat § 61A.071 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 61A — Life Insurance|Section 61A.071 — Applications.

61A.071 APPLICATIONS. No individual life insurance policy shall be issued or delivered in this state to a person age 65 or older unless a signed and completed copy of the application for insurance is left with the applicant at the time application is made. This requirement will not apply to life insurers who mail a copy of the signed, completed application to the applicant within 24 hours of receiving the application. However, where an individual life policy is marketed on a direct response basis, a copy of any application signed by the applicant shall be delivered to the insured along with, or as part of, the policy. History:  1983 c 263 s 7; 1994 c 485 s 18; 1995 c 258 s 16
MN Stat § 61A.08 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 61A — Life Insurance|Section 61A.08 — Exceptions.

61A.08 EXCEPTIONS. Sections 61A.02, 61A.03, 61A.07, 61A.23, and 61A.25 shall not, except as expressly provided in this chapter, apply to industrial or group term policies, or to corporations or associations operating on the assessment or fraternal plan, but every contract issued prior to the operative date specified in section 61A.245 containing a provision for a deferred annuity on the life of the insured only, unless paid for by a single premium, shall provide that, in event of the nonpayment of any premium after three full years' premium shall have been paid, the annuity shall automatically become converted into a paid-up annuity for that proportion of the original annuity as the number of completed years' premiums paid bears to the total number of premiums required under the contract. History:  1967 c 395 art 2 s 8; 1978 c 662 s 1; 1994 c 485 s 20
MN Stat § 61A.091 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 61A — Life Insurance|Section 61A.091 — Employee Group Life Insurance Plans.

61A.091 EMPLOYEE GROUP LIFE INSURANCE PLANS. Subdivision 1. Mandatory participation. No employer who makes available or otherwise sponsors a group life insurance plan that provides life insurance benefits to more than five employees of that employer, whether through insurance policies, self-insurance, or any combination of these arrangements, may require an employee to participate in the life insurance plan as a condition of employment, unless the employer pays the full cost of the plan. No employer may discharge any employee who pursuant to this section refuses to contribute to an employee group life insurance plan, nor shall the employer discriminate or otherwise retaliate against the employee who pursuant to this section refuses to contribute to an employee group life insurance plan. An employee may bring an action against an employer for recovery of any wages withheld in violation of this section. This remedy shall be in addition to any other remedy provided by law. For the purposes of this section, "employer" means any natural person, company, corporation, partnership, association or firm which employs any employee. "Employee" is an individual as defined by section 62E.02, subdivision 8. This section does not apply where a collectively bargained contract provides for mandatory participation in a group life insurance plan. This section does not apply to any insurance purchased or carried for the purpose of buying or selling any part of employer, its shares, its assets or its business. This section does not apply to any insurance purchased or carried by any pension, profit sharing or other retirement plan or trust. Subd. 2. Continuation of waiver of premiums for those otherwise eligible following termination of insurance. All group life insurance policies covering employees of an employer containing a waiver of premium benefits upon total disability of the employee shall provide that termination of the master policy, for any reason whatsoever, will be without prejudice to the claim of any covered employee who is suffering from a disability, as defined in the group life policy waiver of premium section at the time of the termination. This subdivision may be superseded by a rule promulgated by the commissioner of commerce. History:  1977 c 192 s 1; 1980 c 376 s 1; 1983 c 289 s 114 subd 1; 1984 c 655 art 1 s 92; 1986 c 444
MN Stat § 61A.093 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 61A — Life Insurance|Section 61A.093 — Certificate Of Insurance.

61A.093 CERTIFICATE OF INSURANCE. Subdivision 1. Coverage. A certificate of insurance or similar evidence of coverage issued to a Minnesota resident shall provide coverage for all benefits required to be covered in group policies in Minnesota by this chapter. This subdivision supersedes any inconsistent provision of this chapter. A policy of life insurance that is issued or delivered in this state and that covers a person residing in another state may provide coverage or contain provisions that are less favorable to that person than required by this chapter. Less favorable coverages or provisions must meet the requirements that the state in which the person resides would have required had the policy been issued or delivered in that state. Subd. 2. Nonapplication. Subdivision 1 does not apply to certificates issued in regard to a master policy issued outside the state of Minnesota if all of the following are true: (1) the policyholder or certificate holder exists primarily for purposes other than to obtain insurance; (2) the policyholder or certificate holder is not a Minnesota corporation and does not have its principal office in Minnesota; (3) the policy or certificate covers fewer than 25 persons who are residents of Minnesota and the Minnesota residents represent less than 25 percent of all covered persons; and (4) on request of the commissioner, the issuer files with the commissioner a copy of the policy and a copy of each form of certificate. Subd. 3. Relation to other law. Section 60A.08, subdivision 4, shall not be construed as requiring a certificate of insurance or similar evidence of insurance that meets the conditions of subdivision 2 to comply with this chapter. History:   1994 c 485 s 23
MN Stat § 61A.10 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 61A — Life Insurance|Section 61A.10 — Extension Of Time For Payment Of Premiums.

61A.10 EXTENSION OF TIME FOR PAYMENT OF PREMIUMS. Parties to any policy of life insurance now or hereafter issued shall have the right at any time to mutually agree, in writing, for an extension of time in which to pay a second or subsequent premium on the policy, upon condition that the failure to pay the amount agreed upon at the time agreed, shall lapse the policy as of the date mutually agreed upon in the writing; provided, no such agreement shall impair any right to extended or paid-up insurance which the insured may have under the policy, nor any right to have the premiums, any part thereof, or the amount payable for the extension charged against the policy under the terms of the policy. No such agreement need be attached to or made a part of the insurance policy so affected. History:   1967 c 395 art 2 s 10
MN Stat § 61A.11 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 61A — Life Insurance|Section 61A.11 — Misstatement, When Not To Invalidate Policy.

61A.11 MISSTATEMENT, WHEN NOT TO INVALIDATE POLICY. In any claim upon a policy issued in this state without previous medical examination, or without the knowledge or consent of the insured, or, in case of a minor, without the consent of a parent, guardian, or other person having legal custody, the statements made in the application as to the age, physical condition, and family history of the insured shall be valid and binding upon the company, unless willfully false or intentionally misleading. History:  1967 c 395 art 2 s 11; 1986 c 444
MN Stat § 61A.12 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 61A — Life Insurance|Section 61A.12 — Beneficiaries.

61A.12 BENEFICIARIES. Subdivision 1. Proceeds of life policy or annuity, who entitled to. When any insurance is effected in favor of another, the beneficiary shall be entitled to its proceeds against the creditors and representatives of the person effecting the same. All premiums paid for insurance in fraud of creditors, with interest thereon, shall inure to their benefit from the proceeds of the policy, if the company be specifically notified thereof, in writing, before payment. Subd. 2. Exemption in favor of family. Every policy made payable to, or for the benefit of, the spouse of the insured, or after its issue assigned to or in trust for a spouse, shall inure to that person's separate use and that of the children of the insured or the insured's spouse, subject to the provisions of this section. Subd. 3.  [Repealed, 1973 c 725 s 91] Subd. 4. Change of beneficiary. The person applying for and procuring a policy may change the beneficiary or beneficiaries, if the consent of the beneficiary or beneficiaries named in the policy is obtained, or if a power so to do is reserved in the contract of insurance or in case of the death of the beneficiary, or in the case of the dissolution of a marriage between the insured and the beneficiary subject to any limitations on the power to change beneficiaries imposed as a condition of the dissolution. Subd. 5. Substitution. When a creditor requires credit life insurance, credit accident and health insurance, or both, as additional security for an indebtedness, the debtor shall be given the option of furnishing the required amount of insurance through existing policies of insurance owned or controlled by the debtor or procuring and furnishing the required coverage through any insurer authorized to transact insurance business in this state. If this subdivision is applicable, the debtor shall be informed by the creditor of the right to provide alternative coverage before the transaction is completed. History:  1967 c 395 art 2 s 12; 1976 c 121 s 1,2; 1977 c 382 s 5; 1986 c 444; 1994 c 485 s 24
MN Stat § 61A.13 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 61A — Life Insurance|Section 61A.13 — Definitions.

61A.13 DEFINITIONS. Subdivision 1. Contract on a variable basis. When used in sections 61A.13 to 61A.21, "contract on a variable basis" means any contract on either a group or an individual basis issued by a life insurance company providing for the dollar amount of benefits or other contractual payments or values thereunder to vary so as to reflect investment results of a separate account in which amounts have been placed in connection with any such contracts. Such contracts may also provide benefits or values incidental thereto payable in fixed or variable dollar amounts, or both. Subd. 2.  [Repealed, 1969 c 752 s 18] History:  1967 c 395 art 2 s 13; 1969 c 752 s 1; 1973 c 480 s 1
MN Stat § 61A.15 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 61A — Life Insurance|Section 61A.15 — Contract Provisions.

61A.15 CONTRACT PROVISIONS. Subdivision 1. Variable annuity. All annuity contracts on a variable basis issued in this state shall stipulate the expense, mortality, and investment-increment factors to be used in computing (1) in the case of individual contracts, the dollar amount of variable benefits or other contractual payments or values, and (2) in the case of group contracts, the dollar amount payable with respect to a unit of variable benefits purchased thereunder. All such contracts shall guarantee that expenses shall not affect such dollar amounts adversely. In computing the dollar amount of variable benefits or other contractual payments or values under an individual contract on a variable basis, (a) the annual net investment increment assumption shall not exceed five percent, except with the approval of the commissioner, and (b) to the extent that the level of benefits may be affected by mortality results, the mortality factor shall be determined from the Annuity Mortality Table for 1949, Ultimate, or any modification of that table not having a higher mortality rate at any age, or, if approved by the commissioner, from another table. The term "expense," as used in this section, may exclude some or all taxes as stipulated in the contracts and may also exclude any investment management fee which is subject to change with the approval by vote of the holders of such contracts. Subd. 2. Variable life insurance. Any life insurance contract on a variable basis delivered or issued for delivery in this state shall stipulate the investment increment factor to be used in computing the dollar amount of variable benefits or other variable contractual payments or values thereunder and shall guarantee that expense and mortality results shall not adversely affect such dollar amounts. History:  1967 c 395 art 2 s 15; 1969 c 752 s 9; 1973 c 480 s 3
MN Stat § 61A.16 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 61A — Life Insurance|Section 61A.16 — Contract Provisions.

61A.16 CONTRACT PROVISIONS. Any contract on a variable basis providing benefits payable in variable amounts delivered or issued for delivery in this state shall contain a statement of the essential features of the procedures to be followed by the insurance company in determining the dollar amount of such variable benefits. Any such contract, including a group contract and any certificate in evidence of variable benefits issued thereunder, shall state the manner in which such dollar amounts will vary and shall contain on its first page a statement to the effect that the benefits thereunder are on a variable basis. History:  1967 c 395 art 2 s 16; 1969 c 752 s 10
MN Stat § 61A.17 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 61A — Life Insurance|Section 61A.17 — Filing Of Contracts.

61A.17 FILING OF CONTRACTS. No contract on a variable basis shall be issued in this state until a copy of the form thereof (and, in the case of a group contract, the form of any certificate evidencing variable benefits issued pursuant thereto) and any form of application for such contract shall have been filed with the commissioner. No life insurance contract on a variable basis shall be filed for issuance in Minnesota or issued in Minnesota before the commissioner has promulgated rules under section 61A.20 regarding life insurance contracts on a variable basis. History:  1967 c 395 art 2 s 17; 1969 c 752 s 11; 1973 c 480 s 7; 1974 c 203 s 1; 1985 c 248 s 70
MN Stat § 61A.18 (2021)
2021 Minnesota Statutes|Chapters 59A - 79A — Insurance|Chapter 61A — Life Insurance|Section 61A.18 — Disapproval Of Contracts.

61A.18 DISAPPROVAL OF CONTRACTS. The commissioner shall have the power at any time to disapprove any contract form, application, or certificate (1) if it does not comply with the provisions of sections 61A.13 to 61A.21; or (2) if it contains provisions which are unjust, unfair, inequitable, ambiguous, or misleading. After the commissioner shall have notified a company of disapproval, it shall be unlawful for that company to issue or use the contract, application or certificate in the form so disapproved. History:  1967 c 395 art 2 s 18; 1969 c 752 s 12; 1986 c 444