reglab/housing_qa huggingface dataset:
UT Code § 31A-22-403 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 22 - Contracts in Specific Lines|Part 4 - Life Insurance and Annuities|Section 403 - Incontestability.

31A-22-403. Incontestability.    (1) This section does not apply to group policies.     (2)   (a) Except as provided in Subsection (3), a life insurance policy is incontestable after the policy has been in force for a period of two years from the policy's date of issue:   (i) during the lifetime of the insured; or     (ii) for a survivorship life insurance policy, during the lifetime of the surviving insured.       (b) A life insurance policy shall state that the life insurance policy is incontestable after the time period described in Subsection (2)(a).       (3)   (a) A life insurance policy described in Subsection (2) may be contested for nonpayment of premiums.     (b) A life insurance policy described in Subsection (2) may be contested as to:   (i) provisions relating to accident and health benefits allowed under Section 31A-22-609; and     (ii) additional benefits in the event of death by accident.       (c) If a life insurance policy described in Subsection (2) allows the insured, after the policy's issuance and for an additional premium, to obtain a death benefit that is larger than when the policy was originally issued, the payment of the additional increment of benefit is contestable:   (i) until two years after the incremental increase of benefits; and     (ii) based only on a ground that may arise in connection with the incremental increase.         (4)   (a) A reinstated life insurance policy may be contested:   (i) for two years following reinstatement on the same basis as at original issuance; and     (ii) only as to matters arising in connection with the reinstatement.       (b) Any grounds for contest available at original issuance continue to be available for contest until the policy has been in force for a total of two years:   (i) during the lifetime of the insured; and     (ii) for a survivorship life insurance policy, during the lifetime of the surviving insured.         (5)   (a) The limitations on incontestability under this section:   (i) preclude only a contest of the validity of the policy; and     (ii) do not preclude the good faith assertion at any time of defenses based upon provisions in the policy that exclude or qualify coverage, whether or not those qualifications or exclusions are specifically excepted in the policy's incontestability clause.       (b) A provision on which the contestable period would normally run may not be reformulated as a coverage exclusion or restriction to take advantage of this Subsection (5).       (6) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commissioner may make rules to implement this section.    Amended by Chapter 382, 2008 General Session
UT Code § 31A-22-404 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 22 - Contracts in Specific Lines|Part 4 - Life Insurance and Annuities|Section 404 - Suicide.

31A-22-404. Suicide.    (1)   (a) Suicide is not a defense to a claim under a life insurance policy that is in force for two years from the date of issuance of the later of:   (i) the policy; or     (ii) the certificate.       (b) Subsection (1)(a) applies whether:   (i) the insured's death by suicide is voluntary or involuntary; or     (ii) the insured is sane or insane.       (c) If a suicide occurs within the two-year period described in Subsection (1)(a), the insurer shall pay to the beneficiary an amount not less than the premium paid less the following:   (i) a dividend paid;     (ii) an indebtedness; and     (iii) a partial withdrawal.         (2)   (a) If after a life insurance policy is in effect the policy allows the policyholder to purchase a death benefit that is larger than when the policy was originally effective for an additional premium, the payment of the additional increment of benefit may be limited in the event of a suicide within a two-year period beginning on the day on which the increment increase takes effect.     (b) If a suicide occurs within the two-year period described in Subsection (2)(a), the insurer shall pay to the beneficiary an amount not less than the additional premium paid for the additional increment of benefit.       (3) For a survivorship life insurance policy, this section applies when within two years from the day on which the survivorship life insurance policy is issued:   (a) the death of all insureds results from suicide; or     (b) the death of the surviving insured results from suicide.       (4) This section does not apply to:   (a) a policy insuring against death by accident only; or     (b) an accident or double indemnity provision of an insurance policy.      Amended by Chapter 349, 2009 General Session
UT Code § 31A-22-405 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 22 - Contracts in Specific Lines|Part 4 - Life Insurance and Annuities|Section 405 - Misstated age or gender.

31A-22-405. Misstated age or gender.    (1) Subject to Subsection (2), if the age or gender of the person whose life is at risk is misstated in an application for a policy of life insurance, and the error is not adjusted during the person's lifetime, the amount payable under the policy is what the premium paid would have purchased if the age or gender had been stated correctly.     (2) If the person whose life is at risk was, at the time the insurance was applied for, beyond the maximum age limit designated by the insurer, the insurer shall refund at least the amount of the premiums collected under the policy.    Amended by Chapter 308, 2002 General Session
UT Code § 31A-22-406 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 22 - Contracts in Specific Lines|Part 4 - Life Insurance and Annuities|Section 406 - Table of installments.

31A-22-406. Table of installments.  Any life insurance policy which provides that the proceeds may be payable in installments, which are determinable at the issue of the policy, shall provide in the policy a table showing the amounts and intervals of the guaranteed installments.  Enacted by Chapter 242, 1985 General Session
UT Code § 31A-22-407 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 22 - Contracts in Specific Lines|Part 4 - Life Insurance and Annuities|Section 407 - Reinstatement.

31A-22-407. Reinstatement.    (1) Except as provided under Subsection (2), life insurance policies, other than group policies, shall be reinstated upon written application made within three years, or within two years in the case of policies with face amounts under $5,000, from the date of premium default. The applicant shall produce evidence of insurability satisfactory to the insurer, pay all premiums in arrears, and pay or reinstate any other indebtedness to the insurer upon the policy, all with interest, compounded annually, at a rate not exceeding the rate set by the policy for policy loans compounded annually. If no rate is set in the policy, the commissioner shall adopt a rule which sets the rate the same as under Section 31A-22-402.     (2) Subsection (1) does not apply if any of these conditions exist:   (a) The policy has been surrendered for its cash surrender value.     (b) The policy's cash surrender value has been exhausted.     (c) The paid-up term insurance, if any, has expired.      Enacted by Chapter 242, 1985 General Session
UT Code § 31A-22-410 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 22 - Contracts in Specific Lines|Part 4 - Life Insurance and Annuities|Section 410 - Trustee and deposit agreements.

31A-22-410. Trustee and deposit agreements.    (1) An insurer may hold as a part of its general assets the proceeds of any life insurance policy or annuity under a trust or other agreement, upon the terms and restrictions as to revocation by the policyholder and control by the beneficiary, and with the exemptions from the claims of creditors of the beneficiary as the insurer and the policyholder agree to in writing and as are otherwise recognized by law.     (2) An insurer may also receive funds in amounts and upon conditions which the insurer and the policyholder agree to in writing:   (a) as premiums in advance upon life insurance policies or annuities; or     (b) to accumulate for the purchase of future life insurance policies or annuities.      Enacted by Chapter 242, 1985 General Session
UT Code § 31A-22-411 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 22 - Contracts in Specific Lines|Part 4 - Life Insurance and Annuities|Section 411 - Insurance policies providing variable benefits.

31A-22-411. Insurance policies providing variable benefits.    (1) An insurance policy that provides for payment of a benefit in a variable amount shall contain a statement of the essential features of the procedure to be followed by the insurer in determining the dollar amount of the variable benefits.      (2) A variable insurance policy shall contain:   (a) an appropriate nonforfeiture benefit in lieu of those required by either Section 31A-22-408 or 31A-22-409;     (b) an appropriate reinstatement provision in lieu of those required by Section 31A-22-407; and     (c) a grace period provision appropriate to that type of insurance policy in lieu of those required by Section 31A-22-402.       (3) An individual insurance policy and a certificate issued under a group insurance policy shall conspicuously state on its first page that:   (a) the dollar amount may decrease or increase according to investment experience; and     (b) a benefit under the insurance policy is payable on a variable basis.       (4) A life insurance or annuity policy with a variable benefit issued under a separate account shall, on either the application or the insurance policy, state that the insurer's liabilities with respect to a variable benefit under the insurance policy are subject to satisfaction only out of the insurer's variable account assets.     (5)   (a) A variable insurance policy shall state whether it may be amended as to:   (i) investment policy;     (ii) voting rights; and     (iii) conduct of the business and affairs of a separate account.       (b) Subject to any preemptive provision of federal law, an amendment of the type described in this Subsection (5) is subject to:   (i) filing under Section 31A-21-201; and     (ii) approval by a majority of the policyholders in the separate account.        Amended by Chapter 10, 2010 General Session
UT Code § 31A-22-412 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 22 - Contracts in Specific Lines|Part 4 - Life Insurance and Annuities|Section 412 - Assignment of life insurance rights.

 Effective 5/12/2020  31A-22-412. Assignment of life insurance rights.    (1) As used in this section, "final termination of a policy" means the day after which an insurer will not reinstate a policy without requiring:   (a) evidence of insurability; or     (b) written application.       (2)   (a) Except as provided under Subsection (4), the owner of any rights in a life insurance policy or annuity contract may assign any of those rights, including any right to designate a beneficiary and the rights secured under Sections 31A-22-517 through 31A-22-521 and any other provision of this title.     (b) An assignment, valid under general contract law, vests the assigned rights in the assignee, subject, so far as reasonably necessary for the protection of the insurer, to any provisions in the insurance policy or annuity contract inserted to protect the insurer against double payment or obligation.       (3) The rights of a beneficiary under a life insurance policy or annuity contract are subordinate to those of an assignee, unless the beneficiary was designated as an irrevocable beneficiary prior to the assignment.     (4) Assignment of insurance rights may be expressly prohibited by an annuity contract which provides annuities as retirement benefits related to employment contracts.     (5)   (a) After July 1, 1986, when a life insurance policy or annuity is assigned in writing as security for an indebtedness, the insurer shall mail to the assignee a copy of any cancellation notice sent with respect to the policy, if the insurer has received:   (i) written notice of the assignment;     (ii) the name and address of the assignee; and     (iii) a request for assignment notice from the assignee.       (b) An insurer shall mail the cancellation notice described in Subsection (5)(a):   (i) prepaid, and addressed to the assignee's address filed with the insured;     (ii) not less than 10 days before the final termination of the policy; and     (iii) each time the insured fails or refuses to transmit a premium payment to the insurer before the commencement of the policy's grace period.       (c) The insurer may charge the insured directly or charge against the policy the reasonable cost of complying with this section, but in no event to exceed $5 for each notice.        (6) In lieu of providing notices to assignees of final termination of the policy under Subsection (5), an insurer may provide an assignee with an identical copy of all notices sent to the owner of the life insurance policy, provided these notices comply with the other requirements of this title.    Amended by Chapter 32, 2020 General Session
UT Code § 31A-22-413 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 22 - Contracts in Specific Lines|Part 4 - Life Insurance and Annuities|Section 413 - Designation of beneficiary.

 Effective 5/12/2020  31A-22-413. Designation of beneficiary.    (1) Subject to Subsection 31A-22-412(3), no life insurance policy or annuity contract may restrict the right of a policyholder or certificate holder:   (a) to make an irrevocable designation of beneficiary effective immediately or at some subsequent time; or     (b) if the designation of beneficiary is not explicitly irrevocable, to change the beneficiary without the consent of the previously designated beneficiary. Subsection 75-6-201(1)(c) applies to designations by will or by separate writing.       (2)   (a) An insurer may prescribe formalities to be complied with for the change of beneficiaries, but those formalities may only be designed for the protection of the insurer. Notwithstanding Section 75-2-804, the insurer discharges its obligation under the insurance policy or certificate of insurance if it pays the properly designated beneficiary unless it has actual notice of either an assignment or a change in beneficiary designation made pursuant to Subsection (1)(b).     (b) The insurer has actual notice if the formalities prescribed by the policy are complied with, or if the change in beneficiary has been requested in the form prescribed by the insurer and delivered to an agent representing the insurer at least three days prior to payment to the earlier properly designated beneficiary.      Amended by Chapter 32, 2020 General Session
UT Code § 31A-22-414 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 22 - Contracts in Specific Lines|Part 4 - Life Insurance and Annuities|Section 414 - Evidence as to death.

31A-22-414. Evidence as to death.  The rules relating to determination of death under Section 75-1-107 are applicable to life insurance.  Amended by Chapter 30, 1992 General Session
UT Code § 31A-22-415 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 22 - Contracts in Specific Lines|Part 4 - Life Insurance and Annuities|Section 415 - Simultaneous death.

31A-22-415. Simultaneous death.  Section 75-2-702 applies to all policies of life and accident and health insurance.  Amended by Chapter 116, 2001 General Session
UT Code § 31A-22-416 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 22 - Contracts in Specific Lines|Part 4 - Life Insurance and Annuities|Section 416 - Reserved.

31A-22-416. Reserved.   Enacted by Chapter 242, 1985 General Session
UT Code § 31A-22-417 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 22 - Contracts in Specific Lines|Part 4 - Life Insurance and Annuities|Section 417 - Physical examination and autopsy.

31A-22-417. Physical examination and autopsy.  A life insurer may, at its own expense, examine the body of the insured when and as often as the insurer reasonably requires during the pendency of a claim, and it may make an autopsy in case of death where it is reasonably necessary and not forbidden by law.  Enacted by Chapter 242, 1985 General Session
UT Code § 31A-22-418 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 22 - Contracts in Specific Lines|Part 4 - Life Insurance and Annuities|Section 418 - Participating and nonparticipating policies.

31A-22-418. Participating and nonparticipating policies.    (1)   (a) A stock insurer and a mutual insurer may issue both participating and nonparticipating life insurance policies and annuity contracts, subject to this section.     (b) A fraternal insurer issuing life insurance policies in this state may only issue participating policies, except for the following nonparticipating policies:   (i) paid-up, temporary, pure endowment insurance, and annuity settlements provided in exchange for lapsed, surrendered, or matured policies;     (ii) annuities beginning within one year of the making of the contract; and     (iii) those term insurance policies which the commissioner exempts by rule.         (2) Every participating policy shall by its terms give its holder full right to participate annually in the surplus accumulations from the participating business of the insurer that are distributed.     (3) Every insurer issuing both participating and nonparticipating policies shall separately account for the two classes of business.     (4)   (a) No life insurance policy or certificate may be issued in which the accounting, apportionment, and distribution of surplus is deferred for a period longer than three years.     (b) Every insurer doing a participating business shall annually ascertain the surplus over required reserves and other liabilities. After setting aside the contingency reserves it considers necessary and as are required by law, the reasonable nondistributable surplus needed to permit orderly growth, making provision for the payment of reasonable dividends upon capital stock and those sums as are required by prior contracts to be held for deferred dividend policies, the remaining surplus shall be equitably apportioned and returned as a dividend to the participating policyholders or certificate-holders entitled to share in the dividend. A dividend may be conditioned on the payment of the succeeding year's premium only on the first and second anniversaries of the policy.      Amended by Chapter 204, 1986 General Session
UT Code § 31A-22-419 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 22 - Contracts in Specific Lines|Part 4 - Life Insurance and Annuities|Section 419 - Insurer's purchase of and loans on policies.

31A-22-419. Insurer's purchase of and loans on policies.  Any life insurer may purchase for its own benefit any policy of insurance or other obligation of the company and any claim of its policyholders. The insurer may also lend to the holders of policies of the company a sum which does not exceed the sum of the cash value of the policies and the surplus or dividend additions to the policies. The policies and all additions to them shall be security for payment of the loan. An insurer's security interest in a policy under this section need not be filed under Title 70A, Chapter 9a, Uniform Commercial Code - Secured Transactions, to be perfected.  Amended by Chapter 252, 2000 General Session
UT Code § 31A-22-421 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 22 - Contracts in Specific Lines|Part 4 - Life Insurance and Annuities|Section 421 - Facility of payment under certain life insurance policies.

31A-22-421. Facility of payment under certain life insurance policies.  A life insurance policy with a face value of $5,000 or less may 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 a 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, then the insurer may make any payment under the policy 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 payment by reason of having incurred expense for the maintenance, medical attention, or burial of the insured, or for other reasons. The policy may also include a similar provision applicable to any other payment due under the policy.  Enacted by Chapter 242, 1985 General Session
UT Code § 31A-22-422 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 22 - Contracts in Specific Lines|Part 4 - Life Insurance and Annuities|Section 422 - Conditional coverage.

31A-22-422. Conditional coverage.  Conditional or binding receipts or other documents issued by a life insurer, whatever they are named, which conditionally grant life insurance coverage prior to physical delivery of the policy are subject to the form filing requirements under Section 31A-21-201.  Enacted by Chapter 242, 1985 General Session
UT Code § 31A-22-423 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 22 - Contracts in Specific Lines|Part 4 - Life Insurance and Annuities|Section 423 - Policy and annuity examination period.

31A-22-423. Policy and annuity examination period.    (1)   (a) Except as provided under Subsection (2), a life insurance policy, life insurance certificate, annuity contract, or annuity certificate shall contain a notice prominently printed on or attached to the cover or front page of the policy, contract, or certificate stating that the policyholder, contract holder, or certificate holder has the right to return the policy, contract, or certificate for any reason on or before:   (i) 10 days after the day on which the policy, contract, or certificate is delivered; or     (ii) in case of a replacement policy, contract, or certificate, 30 days after the day on which the replacement policy, contract, or certificate is delivered.       (b) For purposes of this section, "return" means a writing that:   (i) the policy, contract, or certificate is being returned for termination of coverage;     (ii) is:   (A) a written statement on the policy, contract, or certificate; or     (B) a writing that accompanies the policy, contract, or certificate; and       (iii) is delivered to or mailed first class to the insurer or the insurer's agent.       (c) A policy, contract, or certificate returned under this section is void from the date of issuance.     (d) A policyholder, contract holder, or certificate holder returning a policy or certificate is entitled to a refund of any premium paid.       (2) This section does not apply to:   (a) group term life insurance issued under Section 31A-22-502;     (b) a group master policy;     (c) a noncontributory certificate;     (d) a credit life insurance certificate; and     (e) other classes of life insurance policies that the commissioner specifies by rule after finding that a right to return those life insurance policies would be impracticable or unnecessary to protect the policyholder's interests.      Amended by Chapter 307, 2007 General Session
UT Code § 31A-22-424 (2021)
2021 Utah Code|Title 31A - Insurance Code|Chapter 22 - Contracts in Specific Lines|Part 4 - Life Insurance and Annuities|Section 424 - Documents constituting entire life insurance policy.

31A-22-424. Documents constituting entire life insurance policy.    (1) A life insurance policy shall contain a provision that defines the documents and agreements that constitute the entire contract between the parties.     (2) Except as permitted by Section 31A-21-106, all documents and agreements defined under Subsection (1) shall be attached to the policy.    Enacted by Chapter 116, 2001 General Session