reglab/housing_qa huggingface dataset:
AK Stat § 21.45.070 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 45. Life Insurance and Annuities|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 the third policy year, the insurer shall annually ascertain and apportion the divisible surplus, if any, that will accrue on the policy anniversary or other dividend date specified in the policy if the policy is in force and all premiums to that date are paid. Except as hereinafter provided, any dividend becoming payable shall, at the option of the party entitled to elect the option, be either (1) payable in cash; or (2) applied to one of the other dividend options that may be provided by the policy; if any other dividend option is provided, the policy must further state which options shall be automatically effective when the party does not elect another option; if the policy specifies a period within which the other dividend option may be elected, the period may not be less than 30 days following the date on which the dividend is due and payable; the annually apportioned dividend shall be payable in cash even though the policy provides that payment of the dividend is to be deferred for a specified period if the period does not exceed six years from the date of apportionment and that interest will be added to the dividend at a specified rate; if a participating policy provides that the benefit under a paid-up nonforfeiture provision is to be participating, it may provide that any divisible surplus becoming payable or apportioned while the insurance is in force under the nonforfeiture provision shall be applied in the manner set out in the policy. (b) In participating industrial life insurance policies, in lieu of the provision required in (a) of this section, there shall be a provision that, beginning not later than the end of the fifth policy year, the policy shall participate annually in the divisible surplus, if any, in the manner set out in the policy.
AK Stat § 21.45.090 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 45. Life Insurance and Annuities|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 benefits in accordance with AS 21.45.300(b)(5), either during the first 20 policy years or during the term of the policy, whichever is shorter.
AK Stat § 21.45.100 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 45. Life Insurance and Annuities|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 a table showing the amounts of the guaranteed installments.
AK Stat § 21.45.110 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 45. Life Insurance and Annuities|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 value, (2) its cash surrender value has been exhausted, or (3) the paid-up term insurance, if any, has expired, the policy will be reinstated at any time within three years, or two years in the case of industrial life insurance policies, from the date of premium default upon written application, the production of evidence of insurability satisfactory to the insurer, the payment of all premiums in arrears with interest at a rate not exceeding six percent a year compounded annually, and the payment or reinstatement of interest due to the insurer on a loan on the policy with interest as provided in AS 21.45.080(c).
AK Stat § 21.45.120 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 45. Life Insurance and Annuities|Sec. 21.45.120. Payment of premiums.

There shall be a provision relative to the payment of premiums.
AK Stat § 21.45.130 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 45. Life Insurance and Annuities|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 of due proof of death and, at the insurer's option, surrender of the policy, proof of the interest of the claimant, or both. If an insurer specifies a particular period before the expiration of which settlement shall be made, the period may not exceed two months from the receipt of the proofs.
AK Stat § 21.45.140 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 45. Life Insurance and Annuities|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 change the beneficiary after the issuance of the policy. The policy may also provide that no designation or change of beneficiary shall be binding on the insurer until endorsed on the policy by the insurer, and that the insurer may refuse to endorse the name of proposed beneficiary who does not appear to the insurer to have an insurable interest in the life of the insured. The policy may also provide that if the beneficiary designated in the policy does not make a claim under the policy or does not surrender the policy with due proof of death within the period stated in the policy, which may not be less than 30 days after the death of the insured, or if the beneficiary is the estate of the insured, or is a minor, or dies before the insured, or is not legally competent to give a valid release, the insurer may pay the proceeds to the executor or administrator of the insured, or to any relative of the insured by blood or legal adoption or connection by marriage, or to any person appearing to the insurer to be equitably entitled to the proceeds by reason of having been named beneficiary, or by reason of having incurred expense for the maintenance, medical attention, or burial of the insured. The policy may also include a similar provision applicable to other payments due under the policy.
AK Stat § 21.45.150 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 45. Life Insurance and Annuities|Sec. 21.45.150. Title.

There shall be a title on the policy, briefly describing it.
AK Stat § 21.45.160 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 45. Life Insurance and Annuities|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 the validity of the policy and does not preclude the assertion at any time of defenses based upon provisions in the policy that exclude or restrict coverage, whether or not the restrictions or exclusions are excepted in such clause.
AK Stat § 21.45.170 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 45. Life Insurance and Annuities|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 delivery in this state unless it contains in substance each of the provisions specified in AS 21.45.180 - 21.45.230, except that if a provision is not applicable to single premium annuities or single premium pure endowment contracts it may not be incorporated into the contract. (b) This section does not apply to contracts for deferred annuities included in or upon the lives of beneficiaries under, life insurance policies.
AK Stat § 21.45.180 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 45. Life Insurance and Annuities|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 of one month, but not less than 30 days, within which a stipulated payment other than the first one may be made, subject at the option of the insurer to make an interest charge on the late payment at a rate to be specified in the contract, but not exceeding six percent a year, for the number of days of grace elapsing before the payment, during which period of grace the contract shall continue in full force, but in case a claim arises under the contract on account of death before expiration of the period of grace before the overdue payment to the insurer or the deferred payments of the current contract year, if any, are made, the amount of the payments, with interest on any overdue payments, may be deducted from the amount payable under the contract in settlement.
AK Stat § 21.45.190 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 45. Life Insurance and Annuities|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 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.
AK Stat § 21.45.200 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 45. Life Insurance and Annuities|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 the entire contract between the parties or, if a copy of the application is endorsed upon or attached to the contract when issued, there shall be a provision that the contract and the application constitute the entire contract between the parties.
AK Stat § 21.45.210 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 45. Life Insurance and Annuities|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 or sex of the person or persons upon whose life or lives the contract is made, or of any of them, has been misstated, the amount payable or benefits accruing under the contract shall be such as the stipulated payment or payments to the insurer would have purchased according to the correct age or sex and that if the insurer makes or has made an overpayment or overpayments on account of a misstatement, the amount of the overpayment, with interest at the rate to be specified in the contract but not exceeding six percent a year, may be charged against the current or next succeeding payment or payments to be made by the insurer under the contract.
AK Stat § 21.45.220 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 45. Life Insurance and Annuities|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 insurer shall annually ascertain and apportion any divisible surplus accruing on the contract.
AK Stat § 21.45.230 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 45. Life Insurance and Annuities|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 be reinstated at any time within one year from the default in making stipulated payments to the insurer, unless the cash surrender value had been paid, if all overdue stipulated payments and any indebtedness to the insurer on the contract are paid or reinstated with interest at a rate to be specified in the contract, not exceeding six percent a year payable annually. Where applicable the insurer may also include a requirement of evidence of insurability satisfactory to the insurer.
AK Stat § 21.45.240 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 45. Life Insurance and Annuities|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 contains in substance each of the following provisions: (1) those provisions specified in AS 21.45.180 - 21.45.220, except that under AS 21.45.180 the insurer may at its option provide for an equitable reduction of the amount of the annuity payments in settlement of an overdue payment in lieu of providing for deduction of the payments from an amount payable upon settlement under the contract; (2) a provision that the contract may be reinstated at any time within three years from the date of default in making stipulated payments to the insurer, upon production of evidence of insurability satisfactory to the insurer, and upon condition that all overdue payments and any indebtedness to the insurer on account of the contract be paid, or, within the limits permitted by the then cash values of the contract, reinstated, with interest as to both payments and indebtedness at a rate to be specified in the contract but not exceeding six percent a year compounded annually. (b) This section does not apply to group annuities or to annuities included in life insurance policies, and any of the provisions not applicable to single premium annuities shall not to that extent be incorporated into the policy or contract.
AK Stat § 21.45.250 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 45. Life Insurance and Annuities|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 period shorter than that provided by statute within which an action at law or in equity may be commenced on the policy; or (2) that excludes or restricts liability for death caused in a certain specified manner or occurring while the insured has a specified status, except that a policy may contain provisions excluding or restricting coverage as specified therein in the event of death (A) as a result, directly or indirectly, of war, declared or undeclared, or of action by military forces, or of any act or hazard of the war or action, or of service in the military, naval, or air forces or in civilian forces auxiliary thereto, or from any cause while a member of the military, naval, or air forces of any country at war, declared or undeclared, or of any country engaged in military action; (B) as a result of aviation or any air travel or flight; (C) as a result of a specified hazardous occupation or occupations; (D) while the insured is a resident outside the United States and Canada; or (E) within two years from the date of issue of the policy as a result of suicide, while sane or insane. (b) A policy that contains an exclusion or restriction under (a) of this section must also provide that in the event of death under the circumstances to which an exclusion or restriction is applicable, the insurer will pay an amount not less than a reserve determined according to the commissioner's Reserve Valuation Method upon the basis of the mortality table and interest rate specified in the policy for the calculation of nonforfeiture benefits (or if the policy provides for no such benefits, computed according to a mortality table and interest rate determined by the insurer and either specified in the policy or filed with the director) with adjustment for indebtedness or dividend credit. (c) This section does not apply to industrial life insurance, group life insurance, health insurance, reinsurance, or annuities, or to a provision in a life insurance policy relating to health benefits or to additional benefits in the event of death by accident or accidental means. (d) Nothing contained in this section prohibits a provision that in the opinion of the director is more favorable to the policyholder than a provision permitted by this section.
AK Stat § 21.45.260 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 45. Life Insurance and Annuities|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 that the insured has previously obtained other insurance from the same insurer; (2) giving the insurer the right to declare the policy void on the grounds that the insured has had a disease or ailment, whether specified or not, or that the insured has received institutional, hospital, medical, or surgical treatment or attention, except the policy may contain a provision that gives the insurer the right to declare the policy void if the insured has, within two years before the issuance of the policy, received institutional, hospital, medical, or surgical treatment or attention and the insured or claimant under the policy fails to show that the condition occasioning the treatment or attention was not of a serious nature or was not material to the risk; (3) giving the insurer the right to declare the policy void because the insured has been rejected for insurance by another insurer, unless the right is conditioned upon a showing by the insurer that knowledge of the rejection would have led to a refusal by the insurer to make the contract.
AK Stat § 21.45.270 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 45. Life Insurance and Annuities|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 reinstatement only for the same period following reinstatement and with the same conditions and exceptions as the policy provides with respect to contestability after original issuance. (b) When a 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 might have been or was excluded or restricted when the policy or contract was originally issued, and the exclusion or restriction shall be effective from the date of reinstatement.
AK Stat § 21.45.280 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 45. Life Insurance and Annuities|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 as to revocation by the policyholder and control by beneficiaries, and with the exemptions from the claims of creditors of beneficiaries other than the policyholder as set out in the policy or as agreed to in writing by the insurer and the policyholder. Upon maturity of a policy, in the event the policyholder has made no such agreement, the insurer shall have the power to hold the proceeds of the policy under an agreement with the beneficiaries. The insurer shall not be required to segregate the funds so held but may hold them as part of its general assets.
AK Stat § 21.45.290 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 45. Life Insurance and Annuities|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 premiums or installments for the current policy year due under the terms of the policy; and of (2) the amount of principal and accrued interest of a policy loan or other indebtedness against the policy then remaining unpaid.
AK Stat § 21.45.310 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 45. Life Insurance and Annuities|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 for the segregation of policyholders into mathematical groups and providing benefits for a surviving policyholder of a group arising out of the death of another policyholder of that group or under another similar plan. (b) An insurer may not issue for delivery or deliver in this state a life insurance policy or annuity contract providing benefits or values for surviving or continuing policyholders contingent upon the lapse or termination of the policies of other policyholders, whether by death or otherwise. This provision does not prohibit the payment or allowance of regular annual dividends or savings under participating forms of policies or contracts, or prohibit the annual distribution to policyholders or beneficiaries of sums representing in part gains to the insurer from lapses, surrenders, or mortality either in general or as resulting from particular classifications of policies.
AK Stat § 21.48.010 (2021)
2021 Alaska Statutes|Title 21. Insurance|Chapter 48. Group Life Insurance|Sec. 21.48.010. Group requirements for group contracts.

(a) A group life insurance policy may not be issued for delivery in this state unless the group is a bona fide association or the group was formed for purposes other than obtaining insurance or is a trust established, adopted, or participated in by one or more employers or labor unions or by one or more employers and labor unions, and (1) the policy covers at least two individuals at the date of issue; (2) an individual eligible for coverage is subject to uniformly applied standards of insurability as may be imposed by the insurer; (3) amounts of group life insurance are determined based on some plan that will preclude individual selection;  (4) the group life insurance policy is in compliance with the other applicable provisions of this chapter; and (5) the group meets other requirements established by the director in regulation. (b) This section does not apply to life insurance policies (1) insuring only individuals related by blood, marriage, or legal adoption; (2) insuring only individuals having a common interest through ownership of a business enterprise, or a substantial legal interest or equity in a business enterprise, and who are actively engaged in its management; or (3) insuring only individuals otherwise having an insurable interest in each other's lives. (c) Insurance under a group life insurance policy may be extended to insure dependents. Notwithstanding AS 21.48.170, only one certificate need be issued for delivery to an insured person if a statement concerning a dependent's coverage is included in the certificate. (d) In this section, “dependents” means the spouse and dependent children of an employee or member of the group. (e) A group life insurance policy may be issued to a group that does not meet one or more of the requirements under (a) of this section only if the director finds that issuance  (1) is in the best interests of the public; (2) results in economies of acquisition or administration; and (3) meets other requirements established by the director in regulation. (f) An insurer shall submit to the director information satisfactory to the director that the group meets the requirements of (a) or (e) of this section, and the director must affirmatively approve of the group before an insurer may issue a group life policy to a group under (a) or (e) of this section.