reglab/housing_qa huggingface dataset:
MT Code § 33-20-121 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 1. Policy Provisions|33-20-121. Prohibited provisions -- limitations on liability

  33-20-121. Prohibited provisions -- limitations on liability. (1) A policy of life insurance may not be delivered or issued for delivery in this state if it contains a provision:   (a) 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   (b) 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 in the policy in the event of death:   (i) as a result, directly or indirectly, of war, declared or undeclared, or of action by military forces or of an act or hazard of war or action or of service in the military, naval, or air forces or in civilian forces auxiliary to those military forces or from any cause while a member of military, naval, or air forces of a country at war, declared or undeclared, or of a country engaged in military action;   (ii) as a result of aviation, air travel, or flight;   (iii) as a result of a specified hazardous occupation or occupations;   (iv) while the insured is a resident outside the continental United States and Canada; or   (v) within 2 years from the date of issue of the policy as a result of suicide. If a life insurance policy contains a dependent rider, the dependent coverage may be continued upon payment of the premium for the dependent rider.   (2) A policy that contains an exclusion or restriction pursuant to subsection (1) must also provide that in the event of death under the circumstances to which the 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 on 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 nonforfeiture benefits, computed according to a mortality table and interest rate determined by the insurer and specified in the policy or by any other method more favorable to the policyholder, with adjustment for indebtedness or dividend credit.   (3) This section does not apply to industrial life insurance, group life insurance, disability insurance, reinsurance, or annuities or to a provision in a life insurance policy relating to disability benefits or to additional benefits in the event of death by accident or accidental means.   (4) This section does not prohibit a provision that in the opinion of the commissioner is more favorable to the policyholder than a provision permitted by this section.   History: En. Sec. 320, Ch. 286, L. 1959; R.C.M. 1947, 40-3826; amd. Sec. 28, Ch. 198, L. 1979; amd. Sec. 7, Ch. 699, L. 1991; amd. Sec. 23, Ch. 451, L. 1993; amd. Sec. 6, Ch. 490, L. 1997; amd. Sec. 38, Ch. 472, L. 1999.
MT Code § 33-20-122 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 1. Policy Provisions|33-20-122. Prohibited provisions -- industrial life insurance

  33-20-122. Prohibited provisions -- industrial life insurance. No policy of industrial life insurance shall contain any of the following provisions:   (1) a provision 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) a provision giving the insurer the right to declare the policy void because the insured 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 has, within 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 such treatment or attention was not of a serious nature or was not material to the risk;   (3) a provision giving the insurer the right to declare the policy void because the insured has been rejected for insurance, unless such right be conditioned upon a showing by the insurer that knowledge of such rejection would have led to a refusal by the insurer to make such contract.   History: En. Sec. 321, Ch. 286, L. 1959; R.C.M. 1947, 40-3827.
MT Code § 33-20-123 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 1. Policy Provisions|33-20-123. Prohibited policy plans -- life insurance policies or annuity contracts

  33-20-123. Prohibited policy plans -- life insurance policies or annuity contracts. (1) No insurer shall issue for delivery or deliver in this state any 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 such group or under any other similar plan.   (2) No insurer shall issue for delivery or deliver in this state any 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 shall not be deemed to 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.   History: En. Sec. 327, Ch. 286, L. 1959; R.C.M. 1947, 40-3833.
MT Code § 33-20-124 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 1. Policy Provisions|33-20-124. Policy provisions -- conformity with state statutes

  33-20-124. Policy provisions -- conformity with state statutes. Each policy regulated by this part must contain a provision or the equivalent thereto as follows:   "Conformity with Montana statutes. The provisions of this policy conform to the minimum requirements of Montana law and control over any conflicting statutes of any state in which the insured resides on or after the effective date of this policy."   History: En. Sec. 22, Ch. 798, L. 1991.
MT Code § 33-20-125 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 1. Policy Provisions|33-20-125. and 33-20-126 reserved

  33-20-125 and 33-20-126 reserved.
MT Code § 33-20-127 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 1. Policy Provisions|33-20-127. Life insurance policy with long-term care provision or accelerated benefits provision -- summary required

  33-20-127. Life insurance policy with long-term care provision or accelerated benefits provision -- summary required. At the time of policy delivery, a summary must be delivered to the insured for an individual life insurance policy that provides accelerated benefits within the policy or by rider. An individual life insurance policy that provides long-term care benefits must provide a summary as described in 33-22-1123. In the case of direct response solicitations, the insurer shall deliver the summary upon the applicant's request but not later than the time of policy delivery. In addition to complying with all applicable requirements, the summary must also include:   (1) an explanation of how the long-term care benefits or accelerated benefits interact with other components of the policy, including deductions from death benefits;   (2) an illustration of the amount of benefits, the length of benefits, and the guaranteed lifetime benefits, if any, for each covered person;   (3) any exclusions, reductions, and limitations of long-term care benefits and accelerated benefits; and   (4) if applicable to the policy type:   (a) a disclosure of the effects of exercising other rights under the policy;   (b) a disclosure of guaranties related to long-term care costs of insurance charges; and   (c) current and projected maximum lifetime benefits.   History: En. Sec. 3, Ch. 152, L. 1991; amd. Sec. 24, Ch. 451, L. 1993; amd. Sec. 1, Ch. 32, L. 2007.
MT Code § 33-20-128 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 1. Policy Provisions|33-20-128. Life insurance policy paying long-term benefits -- monthly report

  33-20-128. Life insurance policy paying long-term benefits -- monthly report. When a long-term care benefit, funded through a life insurance vehicle by the acceleration of the death benefit, is in benefit payment status, a monthly report must be provided to the policyholder as provided for in 33-22-1123 and this section. The report must include the following information for the month for which the report is issued:   (1) the amount of long-term care benefits paid out during the month;   (2) an explanation of any changes in the policy, including without limitation death benefits or cash values, resulting from long-term care benefits having been paid out; and   (3) the amount of long-term care benefits existing or remaining.   History: En. Sec. 4, Ch. 152, L. 1991; amd. Sec. 2, Ch. 416, L. 1997; amd. Sec. 2, Ch. 32, L. 2007.
MT Code § 33-20-129 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 1. Policy Provisions|33-20-129. and 33-20-130 reserved

  33-20-129 and 33-20-130 reserved.
MT Code § 33-20-132 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 1. Policy Provisions|33-20-132. Variable policy loan interest rates -- purpose

  33-20-132. Variable policy loan interest rates -- purpose. The purpose of 33-20-132 through 33-20-136 is to permit and set guidelines for life insurers to include in life insurance policies issued after October 1, 1985, a provision for periodic adjustment of policy loan interest rates.   History: En. Sec. 1, Ch. 191, L. 1985.
MT Code § 33-20-133 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 1. Policy Provisions|33-20-133. Variable interest rates -- exclusions from application

  33-20-133. Variable interest rates -- exclusions from application. The provisions of 33-20-132 through 33-20-136 do not apply to:   (1) term policies;   (2) term insurance benefits provided by rider or supplemental policy provisions; or   (3) industrial life insurance policies except as provided in 33-20-112.   History: En. Sec. 2, Ch. 191, L. 1985.
MT Code § 33-20-134 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 1. Policy Provisions|33-20-134. Variable interest rates -- published monthly average defined

  33-20-134. Variable interest rates -- published monthly average defined. For purposes of 33-20-132 through 33-20-136, the "published monthly average" means:   (1) Moody's corporate bond yield average--monthly average corporates, as published by Moody's investors service, incorporated; or   (2) in the event that Moody's corporate bond yield average--monthly average corporates is no longer published, a substantially similar average, established by rule of the commissioner.   History: En. Sec. 3, Ch. 191, L. 1985.
MT Code § 33-20-136 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 1. Policy Provisions|33-20-136. Variable interest rates -- applicability to policies issued before October 1985

  33-20-136. Variable interest rates -- applicability to policies issued before October 1985. The provisions of 33-20-132 through 33-20-135 do not apply to any insurance contract issued before October 1, 1985, unless the policyholder agrees in writing to the applicability of such provisions.   History: En. Sec. 5, Ch. 191, L. 1985.
MT Code § 33-20-137 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 1. Policy Provisions|33-20-137. through 33-20-140 reserved

  33-20-137 through 33-20-140 reserved.
MT Code § 33-20-141 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 1. Policy Provisions|33-20-141. Notice required for cancellation

  33-20-141. Notice required for cancellation. (1) Subject to subsection (2), an insurer may not cancel a life insurance policy or annuity for nonpayment of premiums until the insurer has mailed or delivered to the named insured and policyowner, where they are not the same, at the last-known post office address shown in the records of the company one written notice of cancellation in addition to any billing statement, stating the date the cancellation will become effective, which may not be less than 30 days after the date of mailing or delivery of the notice. Said 30 days shall run concurrently with the grace period required by 33-20-104.   (2) (a) An insurer that delivers or issues for delivery an individual life insurance policy in this state shall notify an applicant in writing at the time of application for the policy of the applicant's right to designate a third party to receive notice of cancellation of the policy based on nonpayment of premium. The applicant may make the designation at the time of application for the policy or at any time the policy is in force by submitting a written notice to the insurer containing the name and address of the third-party designee.   (b) The insurer's transmission to the third-party designee of a copy of a notice of cancellation based on nonpayment of premium must be in addition to the transmission of the original document to the policyowner. The copy of the notice of cancellation transmitted to the third party must be governed by the same law and policy provisions that govern the notice being transmitted to the policyowner.   (c) The designation of a third party may not constitute acceptance of any liability on the part of the third party or insurer for services provided to the policyowner.   History: En. Sec. 1, Ch. 723, L. 1985; amd. Sec. 2, Ch. 324, L. 2017.
MT Code § 33-20-142 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 1. Policy Provisions|33-20-142. Contents of notice -- proof -- limitation on recovery -- exemptions

  33-20-142. Contents of notice -- proof -- limitation on recovery -- exemptions. (1) (a) The notice of cancellation shall state:   (i) the amount of the premium, installment, or interest due on such policy;   (ii) the place where it must be paid; and   (iii) the name and address of the person or company to which the premium is payable.   (b) The notice must also state that unless the premium or other sums are paid to the company or its insurance producer, the policy will lapse or be forfeited, except as to any nonforfeiture options provided for by a life insurance policy.   (2) "Policyowner", as used in this section, means the owner of the policy or any other person designated as the person to receive premium notices, as shown by the records of the insurance company.   (3) The affidavit of any responsible officer, clerk, or insurance producer of the insurance company authorized to mail the notice that it is the standard practice of the company to mail to policyowners the notice required by this section is prima facie evidence that the notice has been duly given.   (4) No action may be maintained to recover under a lapsed or forfeited policy on the ground that the insurance company failed to comply with this section unless the action is instituted within 2 years from the due date upon which default was made in paying the premium, installment, or interest for which lapse or forfeiture is claimed.   (5) Section 33-20-141 does not apply to:   (a) group or group-type policies;   (b) industrial life or industrial disability policies; or   (c) policies upon which premiums are payable monthly or at more frequent intervals.   History: En. Sec. 2, Ch. 723, L. 1985; amd. Sec. 1, Ch. 713, L. 1989.
MT Code § 33-20-143 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 1. Policy Provisions|33-20-143. through 33-20-149 reserved

  33-20-143 through 33-20-149 reserved.
MT Code § 33-20-150 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 1. Policy Provisions|33-20-150. Life insurance policy and sales illustrations -- annuity disclosure -- rules

  33-20-150. Life insurance policy and sales illustrations -- annuity disclosure -- rules. (1) (a) The commissioner shall adopt rules providing for and regulating life insurance policy illustrations, annuity disclosure, and sales illustrations that are marketed, issued, or issued for delivery to Montana residents.   (b) The rules must specify any types of life insurance or annuities that are exempt from the provisions of the rules.   (2) The rules must be designed to:   (a) protect life insurance and annuity consumers;   (b) foster consumer education;   (c) improve consumers' ability to understand the basic features of life insurance policies and annuities; and   (d) improve consumers' ability to select the most appropriate plan of life insurance or annuity.   (3) Rules that are adopted by the commissioner may not go beyond the scope of, or contain material differences from, the national association of insurance commissioners' life insurance illustrations, annuity disclosure, and sales model regulations.   (4) After the effective date of rules that are adopted pursuant to this section, a group or individual life insurance policy, certificate, or annuity may not be marketed, issued, or issued for delivery to a Montana resident unless the policy, certificate, or annuity conforms to the rules that are adopted pursuant to this section.   History: En. Sec. 1, Ch. 76, L. 1999.
MT Code § 33-20-151 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 1. Policy Provisions|33-20-151. Repealed

  33-20-151. Repealed. Sec. 134, Ch. 494, L. 1993.   History: En. Sec. 30, Ch. 582, L. 1989.
MT Code § 33-20-201 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 2. Standard Nonforfeiture Law Life Insurance|33-20-201. Short title

  33-20-201. Short title. This part shall be known as the "Standard Nonforfeiture Law for Life Insurance".   History: En. Sec. 325, Ch. 286, L. 1959; amd. Sec. 1, Ch. 65, L. 1961; amd. Sec. 1, Ch. 42, L. 1965; amd. Sec. 2, Ch. 341, L. 1973; R.C.M. 1947, 40-3831(1); amd. Sec. 5, Ch. 346, L. 1979.
MT Code § 33-20-205 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 2. Standard Nonforfeiture Law Life Insurance|33-20-205. Calculation -- mortality table -- rates of interest

  33-20-205. Calculation -- mortality table -- rates of interest. Except as otherwise provided in 33-20-206 and 33-20-207:   (1) All adjusted premiums and present values referred to in this part shall for all policies of ordinary insurance be calculated on the basis of the commissioner's 1941 standard ordinary mortality table.   (2) For any category of ordinary insurance issued on female risks, adjusted premiums and present values may be calculated, at the option of the insurer with approval of the commissioner, according to an age younger than the actual age of the insured, and such calculations for all policies of industrial insurance shall be made on the basis of the 1941 standard industrial mortality table.   (3) All calculations shall be made on the basis of the rate of interest, not exceeding 3 1/2% per annum, specified in the policy for calculating cash surrender values and paid-up nonforfeiture benefits.   (4) 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 130% of the rates of mortality according to such applicable table.   (5) For insurance issued on a substandard basis, the calculation of any such adjusted premiums and present values may be based on such other table of mortality as may be specified by the insurer and approved by the commissioner.   History: En. Sec. 325, Ch. 286, L. 1959; amd. Sec. 1, Ch. 65, L. 1961; amd. Sec. 1, Ch. 42, L. 1965; amd. Sec. 2, Ch. 341, L. 1973; R.C.M. 1947, 40-3831(8).
MT Code § 33-20-206 (2021)
2021 Montana Code Annotated|Title 33. Insurance and Insurance Companies|Chapter 20. Life Insurance|Part 2. Standard Nonforfeiture Law Life Insurance|33-20-206. Mortality tables -- policies issued after operative date

  33-20-206. Mortality tables -- policies issued after operative date. (1) This section does not apply to ordinary policies issued on or after the operative date of 33-20-208.   (2) In the case of ordinary policies issued on or after the operative date of this section as defined herein, all adjusted premiums and present values referred to in this part shall be calculated on the basis of the commissioner's 1958 standard ordinary mortality table and the rate of interest specified in the policy for calculating cash surrender values and paid-up nonforfeiture benefits, provided that:   (a) such rate of interest shall not exceed 3 1/2% per annum, except that a rate of interest not exceeding 4% per annum may be used for policies issued on or after March 17, 1973, and prior to July 1, 1979, and a rate of interest not exceeding 5 1/2% a year may be used for policies issued on or after July 1, 1979;   (b) 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 6 years younger than the actual age of the insured;   (c) 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 commissioner's 1958 extended term insurance table;   (d) for insurance issued on a substandard basis, the calculation of any such adjusted premiums and present values may be based on such other table of mortality as may be specified by the company and approved by the commissioner.   (3) After July 1, 1961, any insurer may file with the commissioner a written notice of its election to comply with the provisions of this section after a specified date before January 1, 1966. After the filing of such notice, then upon such specified date (which shall be the operative date of this section for such insurer), this section shall become operative with respect to the ordinary policies thereafter issued by such insurer. If an insurer makes no such election, the operative date of this section for such insurer shall be January 1, 1966.   History: En. Sec. 325, Ch. 286, L. 1959; amd. Sec. 1, Ch. 65, L. 1961; amd. Sec. 1, Ch. 42, L. 1965; amd. Sec. 2, Ch. 341, L. 1973; R.C.M. 1947, 40-3831(8-a); amd. Sec. 6, Ch. 346, L. 1979; amd. Sec. 4, Ch. 498, L. 1983.