reglab/housing_qa huggingface dataset:
WY Stat § 26-16-114 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 1 - Policy and Contract Provisions|Section 26-16-114 - Title on Policy.

26-16-114. Title on policy.| There shall be a title on the policy briefly describing the policy.
WY Stat § 26-16-115 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 1 - Policy and Contract Provisions|Section 26-16-115 - Excluded or Restricted Coverage Under Incontestability Clause.

26-16-115. Excluded or restricted coverage under incontestability clause.| A clause in any life insurance policy providing that the policy is incontestable after a specified period precludes only a contest of the policy's validity and does not preclude the assertion at any time of defenses based upon provisions in the policy which exclude or restrict coverage, whether or not the restrictions or exclusions are excepted in the clause.
WY Stat § 26-16-116 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 1 - Policy and Contract Provisions|Section 26-16-116 - Annuity and Pure Endowment Contracts; Standard Provisions.

26-16-116. Annuity and pure endowment contracts; standard provisions.| (a) No annuity or pure endowment contract, other than reversionary, survivorship or group annuities and except as stated in this section, shall be delivered or issued for delivery in this state unless it contains provisions conforming in substance to each of the provisions specified in W.S. 26-16-117. Any of the provisions not applicable to single premium annuities or single premium pure endowment contracts, to that extent, shall not be incorporated in the policy.  (b) This section does not apply to contracts for deferred annuities included in or upon the lives of beneficiaries under life insurance policies.
WY Stat § 26-16-118 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 1 - Policy and Contract Provisions|Section 26-16-118 - Standard Provisions for Reversionary Annuities.

26-16-118. Standard provisions for reversionary annuities.| (a) Except as otherwise provided in this section, no contract for a reversionary annuity shall be delivered or issued for delivery in this state unless it contains in substance:  (i) The provisions specified in W.S. 26-16-117, except that under W.S. 26-16-117 the insurer, at its option, may provide for an equitable reduction of the amount of the annuity payments in settlement of an overdue payment instead of providing for deduction of the payments from an amount payable upon settlement under the contract; and  (ii) A provision that the contract may be reinstated at any time within three (3) 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 because 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 (6%) per annum compounded annually.  (b) This section does not apply to group annuities or to annuities included in life insurance policies, and any of those provisions not applicable to single premium annuities, to that extent, shall not be incorporated in the policies.
WY Stat § 26-16-119 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 1 - Policy and Contract Provisions|Section 26-16-119 - Provisions Limiting Liability in Life Insurance Policies Prohibited; Exceptions.

26-16-119. Provisions limiting liability in life insurance policies prohibited; exceptions.| (a) No life insurance policy shall be delivered or issued for delivery in this state if it contains any provision:  (i) Limiting the time within which an action at law or in equity may be commenced on the policy to less than three (3) years after the cause of action has accrued;  (ii) Which 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 case of death under any of the following circumstances:  (A) Death as a result, directly or indirectly, of war, declared or undeclared, or of any act or hazard of a war or action;  (B) Death as a result of aviation or any air travel or flight;  (C) Death as a result of a specified hazardous occupation. Service in the military, naval or air forces or in civilian forces auxiliary thereto shall not be a specified hazardous occupation under this subparagraph;  (D) Death while the insured is a resident outside [the] continental United States and Canada; or  (E) Death within two (2) years from the date of issue of the policy as a result of suicide, while sane or insane.  (b) A policy which contains any exclusion or restriction pursuant to subsection (a) of this section shall also provide that in case of death under the circumstances to which the exclusion or restriction applies, the insurer shall pay an amount not less than a reserve determined according to the commissioners' 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 does not provide for such benefits, computed according to a mortality table and interest rate determined by the insurer and specified in the policy, with adjustment for indebtedness or dividend credit.  (c) This section does not apply to group life insurance, disability insurance, reinsurance or annuities, or to any provision in a life insurance policy or contract supplemental thereto relating to disability benefits or to additional benefits in case of death by accident or accidental means.  (d) Nothing in this section prohibits any provision which in the commissioner's opinion is more favorable to the policyholder than a provision permitted by this section.
WY Stat § 26-16-120 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 1 - Policy and Contract Provisions|Section 26-16-120 - Prohibited Provisions Generally in Life Insurance Policies and Industrial Life Insurance Policies.

26-16-120. Prohibited provisions generally in life insurance policies and industrial life insurance policies.| (a) No life insurance policy, other than industrial insurance, shall be issued or delivered in this state, or be issued by any domestic insurer, if it contains any provision:  (i) By which the policy purports to be issued or to take effect more than one (1) year before the original application for the insurance is made, if thereby the insured would rate at an age more than one (1) year younger than his insuring age at date when application is made;  (ii) For any mode of settlement at maturity of the policy of less value than the amount insured under the policy, plus dividend additions, if any, less any indebtedness to the insurer on or secured by the policy and less any premium that, by the terms of the policy, may be deducted. This paragraph does not apply to any nonforfeiture provisions which employ the cash value less indebtedness, if any, to purchase automatic paid-up or extended insurance, nor does it apply to graded death benefits in juvenile policies at ages one (1) to sixteen (16) years.  (b) No industrial life insurance policy shall contain any provision:  (i) By which the insurer may deny liability under the policy for the reason that the insured previously obtained other insurance from the same insurer;  (ii) Giving the insurer the right to declare the policy void because the insured:  (A) Has had any disease or ailment, whether specified or not, or because the insured has received institutional, hospital, medical or surgical treatment or attention, except a provision which gives the insurer the right to declare the policy void if the insured, within two (2) years prior to the issuance of the policy, received institutional, hospital, medical or surgical treatment or attention and if the insured or claimant under the policy fails to show that the condition occasioning that treatment or attention was not of a serious nature or was not material to the risk;  (B) Has been rejected for insurance, unless the right is conditioned upon the insurer showing that knowledge of the rejection would have led to the insurer's refusal to make the contract.
WY Stat § 26-16-121 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 1 - Policy and Contract Provisions|Section 26-16-121 - Failure to Pay Premiums; Notification.

26-16-121. Failure to pay premiums; notification.| When an employer or trustee of a fund established or adopted by an employer, which employer or trustee is deemed the policyholder of the life insurance policy insuring the employer's employees for the benefit of persons other than the employer and where the employer or trustee routinely pays any part of the premium for the policy, if the employer or trustee fails to pay the routinely paid portion of the premium when required under the policy for any reason, the employer or trustee shall notify the employee or beneficiary, electronically or in writing, within thirty (30) days of the failure to pay.
WY Stat § 26-16-201 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 2 - Standard Nonforfeiture Law|Section 26-16-201 - Short Title; Policy Issue Date; Valuation Manual Operative Date.

26-16-201. Short title; policy issue date; valuation manual operative date.| (a) This article is known as the Standard Nonforfeiture Law for Life Insurance.  (b) For the purpose of this article the date of issue of a policy is the date on which the insured's rated age is determined.  (c) For the purpose of this article, "operative date of the valuation manual" means January 1, 2017.
WY Stat § 26-16-203 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 2 - Standard Nonforfeiture Law|Section 26-16-203 - Cash Surrender Values.

26-16-203. Cash surrender values.| (a) The insurer may reserve the right to defer the payment of any cash surrender value for a period of six (6) months after demand therefor with surrender of the policy.  (b) Cash surrender value shall be as follows:  (i) Any cash surrender value available under the policy in case of default in a premium payment due on any policy anniversary, whether or not required by W.S. 26-16-202, shall be an amount not less than the excess, if any, of the present value, on the anniversary of the future guaranteed benefits, including any existing paid-up additions, which would have been provided for by the policy if there had been no default, over the sum of:  (A) The then present value of the adjusted premiums as defined in W.S. 26-16-205 through 26-16-209 corresponding to premiums which would have fallen due on and after the anniversary; and  (B) The amount of any indebtedness to the insurer on the policy.  (ii) For any policy issued on or after the operative date of W.S. 26-16-209, which provides supplemental life insurance or annuity benefits at the insured's option and for an identifiable additional premium by rider or supplemental policy provision, the cash surrender value referred to in paragraph (i) of this subsection shall be an amount not less than the sum of the cash surrender value as defined in that paragraph for an otherwise similar policy issued at the same age without the rider or supplemental policy provision and the cash surrender value as defined in that paragraph for a policy which provides only the benefits otherwise provided by the rider or supplemental policy provision;  (iii) For any family policy issued on or after the operative date of W.S. 26-16-209, which defines a primary insured and provides term insurance on the life of the spouse of the primary insured expiring before the spouse's age seventy-one (71), the cash surrender value referred to in paragraph (i) of this subsection shall be an amount not less than the sum of the cash surrender value as defined in that paragraph for an otherwise similar policy issued at the same age without the term insurance on the life of the spouse and the cash surrender value as defined in the paragraph for a policy which provides only the benefits otherwise provided by the term insurance on the life of the spouse;  (iv) Any cash surrender value available within thirty (30) days after any policy anniversary under any policy paid-up by completion of all premium payments or any policy continued under any paid-up nonforfeiture benefit, whether or not required by W.S. 26-16-202(a), shall be an amount not less than the present value, on the anniversary, of the future guaranteed benefits provided for by the policy, including any existing paid-up additions, decreased by any indebtedness to the insurer on the policy.
WY Stat § 26-16-204 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 2 - Standard Nonforfeiture Law|Section 26-16-204 - Paid-Up Nonforfeiture Benefits.

26-16-204. Paid-up nonforfeiture benefits.| Any paid-up nonforfeiture benefit available under the policy in case of default in a premium payment due on any policy anniversary shall be such that its present value as of the anniversary shall be at least equal to the cash surrender value then provided by the policy or, if none is provided, that cash surrender value which would have been required by this article in the absence of the condition that premiums be paid for at least a specified period.
WY Stat § 26-16-205 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 2 - Standard Nonforfeiture Law|Section 26-16-205 - Section Applicability; Adjusted Premiums.

26-16-205. Section applicability; adjusted premiums.| (a) This section does not apply to policies issued on or after the operative date of W.S. 26-16-209.  (b) Except as provided in W.S. 26-16-207, the adjusted premiums for any policy shall be calculated on an annual basis and shall be such uniform percentage of the premiums specified in the policy for each policy year, excluding any extra premiums charged because of impairment or special hazards, that the present value, at the date of issue of the policy, of all the adjusted premiums shall be equal to the sum of:  (i) The then present value of the future guaranteed benefits provided by the policy;  (ii) Two percent (2%) of the amount of insurance, if the insurance is uniform in amount, or of the equivalent uniform amount, as otherwise defined in this article, if the amount of insurance varies with duration of the policy;  (iii) Forty percent (40%) of the adjusted premium for the first policy year;  (iv) Twenty-five percent (25%) of either the adjusted premium for the first policy year or the adjusted premium for a whole life policy of the same uniform or equivalent uniform amount with uniform premiums for the whole of life issued at the same age for the same amount of insurance, whichever is less, except that in applying the percentages specified in paragraph (iii) of this subsection and this paragraph, no adjusted premium is deemed to exceed four percent (4%) of the amount of insurance or uniform amount equivalent thereto.
WY Stat § 26-16-206 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 2 - Standard Nonforfeiture Law|Section 26-16-206 - Varying Amount of Insurance Based on Policy Duration; Uniform Equivalent.

26-16-206. Varying amount of insurance based on policy duration; uniform equivalent.| (a) In the case of a policy providing an amount of insurance varying with duration of the policy, the equivalent uniform amount thereof for the purpose of W.S. 26-16-205 is the uniform amount of insurance provided by an otherwise similar policy, containing the same endowment benefits, if any, issued at the same age and for the same term, the amount of which does not vary with duration and the benefits under which have the same present value at the date of issue as the benefits under the policy.  (b) In the case of a policy providing a varying amount of insurance issued on the life of a child under age ten (10) the equivalent uniform amount may be computed as though the amount of insurance provided by the policy prior to the attainment of age ten (10) were the amount provided by the policy at age ten (10).
WY Stat § 26-16-207 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 2 - Standard Nonforfeiture Law|Section 26-16-207 - Adjustment of Premiums for Benefits Provided by Rider or Supplemental Policy Provision.

26-16-207. Adjustment of premiums for benefits provided by rider or supplemental policy provision.| (a) The adjusted premiums for any policy providing term insurance benefits by rider or supplemental policy provision shall be equal to:  (i) The adjusted premiums for an otherwise similar policy issued at the same age without the term insurance benefits, increased, during the period for which premiums for the term insurance benefits are payable, by;  (ii) The adjusted premiums for the term insurance. Paragraphs (a)(i) and (ii) of this section shall be calculated separately and as specified in W.S. 26-16-205 and 26-16-206, except that for the purposes of W.S. 26-16-205(b)(ii), (iii) and (iv), the amount of insurance or equivalent uniform amount of insurance used in the calculation of the adjusted premiums referred to in this paragraph shall be equal to the excess of the corresponding amount determined for the entire policy over the amount used in the calculation of the adjusted premiums in paragraph (a)(i) of this section.
WY Stat § 26-16-208 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 2 - Standard Nonforfeiture Law|Section 26-16-208 - Section Applicability; Calculation of Certain Adjusted Premiums.

26-16-208. Section applicability; calculation of certain adjusted premiums.| (a) This section does not apply to ordinary policies issued on or after the operative date of W.S. 26-16-209. All adjusted premiums and present values referred to in this article, for all policies of ordinary insurance, shall be calculated on the basis of the commissioners' 1958 standard ordinary mortality table, except that for any category of ordinary insurance issued on female risks, adjusted premiums and present values may be calculated according to an age not more than six (6) years younger than the insured's actual age.  (b) Calculations for all policies of industrial insurance shall be made on the basis of the commissioners' 1961 standard industrial mortality table.  (c) All calculations shall be made on the basis of the rate of interest specified in the policy for calculating cash surrender values and paid-up nonforfeiture benefits. The rate of interest shall not exceed three and one-half percent (3 1/2%) per annum, except that a rate of interest not exceeding four percent (4%) per annum may be used for policies issued on or after July 1, 1975 and prior to May 20, 1981 and a rate of interest not exceeding five and one-half percent (5 1/2%) per annum may be used for policies issued on or after May 20, 1981.  (d) In calculating the present value of any paid-up term insurance with accompanying pure endowment, if any, offered as a nonforfeiture benefit, the rates of mortality assumed may be not more than those shown in the commissioners' 1958 extended term insurance table in the case of ordinary insurance, and the commissioners' 1961 industrial extended term insurance table in the case of industrial policies.  (e) For insurance issued on a substandard basis, the calculation of any adjusted premiums and present values may be based on any mortality table the insurer specifies and the commissioner approves.
WY Stat § 26-16-211 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 2 - Standard Nonforfeiture Law|Section 26-16-211 - Calculating Cash Surrender and Paid-Up Nonforfeiture Benefits for Premium Default Other Than on Policy Anniversary.

26-16-211. Calculating cash surrender and paid-up nonforfeiture benefits for premium default other than on policy anniversary.| (a) Any cash surrender value and any paid-up nonforfeiture benefit, available under the policy in case of default in a premium payment due at any time other than on the policy anniversary, shall be calculated with allowance for the lapse of time and the payment of fractional premiums beyond the last preceding policy anniversary. All values referred to in W.S. 26-16-203(b) through 26-16-209 may be calculated upon the assumption that any death benefit is payable at the end of the policy year of death. The net value of any paid-up additions, other than paid-up term additions, shall not be less than the amounts used to provide the additions. Notwithstanding W.S. 26-16-203(b), the following additional benefits payable shall be disregarded in ascertaining cash surrender values and nonforfeiture benefits required by this article and are not required to be included in any paid-up nonforfeiture benefits:  (i) In case of death or dismemberment by accident or accidental means;  (ii) In case of total and permanent disability;  (iii) As reversionary annuity or deferred reversionary annuity benefits;  (iv) As term insurance benefits provided by a rider or supplemental policy provision to which, if issued as a separate policy, this section would not apply;  (v) As term insurance on the life of a child provided in a policy on the life of a parent of the child, if the term insurance expires before the child's age is twenty-six (26), is uniform in amount after the child's age is one (1) and is not paid-up because of the death of a parent of the child; and  (vi) As other policy benefits additional to life insurance and endowment benefits, and premiums for all the additional benefits.
WY Stat § 26-16-212 (2021)
2021 Wyoming Statutes|Title 26 - Insurance Code|Chapter 16 - Life Insurance and Annuity Contracts|Article 2 - Standard Nonforfeiture Law|Section 26-16-212 - Applicability of Article.

26-16-212. Applicability of article.| (a) This article does not apply to any:  (i) Reinsurance;  (ii) Group insurance;  (iii) Pure endowment;  (iv) Annuity or reversionary annuity contract;  (v) Term policy of uniform amount which provides no guaranteed nonforfeiture or endowment benefits, or renewal thereof, of twenty (20) years or less expiring before age seventy-one (71), for which uniform premiums are payable during the entire term of the policy;  (vi) Term policy of decreasing amount which provides no guaranteed nonforfeiture or endowment benefits and on which each adjusted premium, calculated as specified in W.S. 26-16-205 through 26-16-209, is less than the adjusted premium so calculated, on a term policy of uniform amount, or renewal thereof, which provides no guaranteed nonforfeiture or endowment benefits, issued at the same age, for the same initial amount of insurance, and for a term of twenty (20) years or less expiring before age seventy-one (71), for which uniform premiums are payable during the entire term of the policy;  (vii) Policy which provides no guaranteed nonforfeiture or endowment benefits and for which no cash surrender value or present value of paid-up nonforfeiture benefit at the beginning of the policy year and calculated as specified in W.S. 26-16-203(b) through 26-16-209, exceed two and one-half percent (2 1/2%) of the amount of insurance at the beginning of the policy year. For purposes of paragraph (vi) of this subsection and this paragraph, the age at expiration of a joint term life insurance policy is the age at expiration of the oldest life; or  (viii) Policy which is delivered outside this state through an agent or other representative of the insurer issuing the policy.