reglab/housing_qa huggingface dataset:
18 DE Code § 2915. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 29. Life Insurance and Annuity Contracts|§ 2915. Beneficiary, industrial policies.

§ 2915. Beneficiary, industrial policies. An industrial life insurance policy shall have the name of the beneficiary designated thereon or in the application or other form if attached to the policy, with a reservation of the right to designate or change the beneficiary after the issuance of the policy, unless such beneficiary be irrevocably designated. 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 any 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 shall 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 thereunder 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 thereto 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 any other payment due under the policy. 18 Del. C. 1953, §  2915;  56 Del. Laws, c. 380, §  1;
18 DE Code § 2916. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 29. Life Insurance and Annuity Contracts|§ 2916. Title.

§ 2916. Title. There shall be a title on the policy, briefly describing the same. 18 Del. C. 1953, §  2916;  56 Del. Laws, c. 380, §  1;
18 DE Code § 2917. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 29. Life Insurance and Annuity Contracts|§ 2917. Excluded or restricted coverage.

§ 2917. Excluded or restricted coverage. A clause in any policy of life insurance providing that such policy shall be incontestable after a specified period shall preclude only a contest of the validity of the policy and shall not preclude the assertion at any time of defenses based upon provisions in the policy which exclude or restrict coverage, whether or not such restrictions or exclusions are excepted in such clause. 18 Del. C. 1953, §  2917;  56 Del. Laws, c. 380, §  1;
18 DE Code § 2918. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 29. Life Insurance and Annuity Contracts|§ 2918. Standard provisions; annuity and pure endowment contracts.

§ 2918. Standard provisions; annuity and pure endowment contracts. (a) No annuity or pure endowment contract, other than reversionary annuities (also called survivorship annuities) or group annuities and except as stated herein, shall be delivered or issued for delivery in this State unless it contains in substance each of the provisions specified in §§ 2919-2924, inclusive, of this title. Any of such provisions not applicable to single premium annuities or single premium pure endowment contracts shall not, to that extent, be incorporated therein. (b) This section shall not apply to contracts for deferred annuities included in, or upon the lives of beneficiaries under, life insurance policies. 18 Del. C. 1953, §  2918;  56 Del. Laws, c. 380, §  1;
18 DE Code § 2919. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 29. Life Insurance and Annuity Contracts|§ 2919. Grace period; annuities.

§ 2919. Grace period; annuities. In an annuity or pure endowment contract, other than a reversionary, survivorship or group annuity, there shall be a provision that there shall be a period of grace of 1 month, but not less than 30 days, within which any stipulated payment to the insurer falling due after the first may be made, subject at the option of the insurer to an interest charge thereon at a rate to be specified in the contract but not exceeding 6% per annum for the number of days of grace elapsing before such 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 prior to 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 such payments, with interest on any overdue payments, may be deducted from any amount payable under the contract in settlement. 18 Del. C. 1953, §  2919;  56 Del. Laws, c. 380, §  1;
18 DE Code § 2920. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 29. Life Insurance and Annuity Contracts|§ 2920. Incontestability; annuities.

§ 2920. Incontestability; annuities. 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, and subject to § 2922 of this title, there shall be a provision that the contract shall be incontestable after it has been in force during the lifetime of the person or of each of the persons as to whom such statements are required, for a period of 2 years from its date of issue, except for nonpayment of stipulated payments to the insurer; and at the option of the insurer such contract may also except any provisions relative to benefits in the event of disability and any provisions which grant insurance specifically against death by accident or accidental means. 18 Del. C. 1953, §  2920;  56 Del. Laws, c. 380, §  1;
18 DE Code § 2921. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 29. Life Insurance and Annuity Contracts|§ 2921. Entire contract; annuities.

§ 2921. Entire contract; annuities. In an annuity or pure endowment contract, other than a reversionary, survivorship or group annuity, there shall be a provision that the contract shall constitute the entire contract between the parties or, if a copy of the application is endorsed upon or attached to the contract when issued, a provision that the contract and the application therefor shall constitute the entire contract between the parties. 18 Del. C. 1953, §  2921;  56 Del. Laws, c. 380, §  1;
18 DE Code § 2922. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 29. Life Insurance and Annuity Contracts|§ 2922. Misstatement of age or sex; annuities.

§ 2922. 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 shall make or has made any overpayment or overpayments on account of any such misstatement, the amount thereof with interest at the rate to be specified in the contract but not exceeding 6% per annum, may be charged against the current or next succeeding payment or payments to be made by the insurer under the contract. 18 Del. C. 1953, §  2922;  56 Del. Laws, c. 380, §  1;
18 DE Code § 2923. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 29. Life Insurance and Annuity Contracts|§ 2923. Dividends; annuities.

§ 2923. 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. 18 Del. C. 1953, §  2923;  56 Del. Laws, c. 380, §  1;
18 DE Code § 2924. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 29. Life Insurance and Annuity Contracts|§ 2924. Reinstatement; annuities.

§ 2924. Reinstatement; annuities. In an annuity or pure endowment contract, other than a reversionary or group annuity, there shall be a provision that the contract may be reinstated at any time within 1 year from the default in making stipulated payments to the insurer, unless the cash surrender value has been paid, but all overdue stipulated payments and any indebtedness to the insurer on the contract shall be paid or reinstated with interest thereon at a rate to be specified in the contract, but not exceeding 6% per annum payable annually, and, in cases where applicable, the insurer may also include a requirement of evidence of insurability satisfactory to the insurer. 18 Del. C. 1953, §  2924;  56 Del. Laws, c. 380, §  1;
18 DE Code § 2925. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 29. Life Insurance and Annuity Contracts|§ 2925. Standard provisions; reversionary annuities.

§ 2925. Standard provisions; reversionary annuities. (a) Except as stated herein, no contract for a reversionary annuity shall be delivered or issued for delivery in this State unless it contains in substance each of the following provisions:  (1) Any such reversionary annuity contract shall contain the provisions specified in §§ 2919-2923 of this title except that under § 2919 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 such payments from an amount payable upon settlement under the contract; (2) In such reversionary annuity contracts there shall be a provision that the contract may be reinstated at any time within 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 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 6% per annum compounded annually. (b) This section shall not apply to group annuities or to annuities included in life insurance policies and any of such provisions not applicable to single premium annuities shall not to that extent be incorporated therein. 18 Del. C. 1953, §  2925;  56 Del. Laws, c. 380, §  1;
18 DE Code § 2926. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 29. Life Insurance and Annuity Contracts|§ 2926. Limitation of liability.

§ 2926. Limitation of liability. (a) No policy of life insurance shall be delivered or issued for delivery in this State if it contains any of the following provisions:  (1) A provision limiting the time within which an action at law or in equity may be commenced on such a policy to less than 3 years after the cause of action has accrued; (2) A provision 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 the event of death under any one or more of the following circumstances:  a. Death as a result, directly or indirectly, of war, declared or undeclared, or of action by military forces, or of any act or hazard of such 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 such military, naval or air forces of any country at war, declared or undeclared, or of any country engaged in such military action; b. Death as a result of aviation or any air travel or flight; c. Death as a result of a specified hazardous occupation or occupations or avocation; d. Death while the insured is a resident outside continental United States and Canada; or e. Death within 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 paragraph (a)(2) of this section shall also provide that in the event of death under the circumstances to which any such 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 specified in the policy) with adjustment for indebtedness or dividend credit. (c) This section shall not apply to group life insurance, health 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 the event of death by accident or accidental means. (d) Nothing contained in this section shall prohibit any provision which in the opinion of the Commissioner is more favorable to the policyholder than a provision permitted by this section. 18 Del. C. 1953, §  2926;  56 Del. Laws, c. 380, §  1;
18 DE Code § 2927. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 29. Life Insurance and Annuity Contracts|§ 2927. Prohibited provisions.

§ 2927. Prohibited provisions. (a) No life insurance policy, other than industrial life insurance, shall be delivered or issued for delivery in this State, if it contains any of the following provisions:  (1) A provision by which the policy purports to be issued or to take effect more than 1 year before the original application for the insurance was made; (2) A provision 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 may by the terms of the policy be deducted; (3) A provision to the effect that the agent soliciting the insurance is the agent of the person insured under the policy or making the acts or representations of such agent binding upon the person so insured under the policy. (b) 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.18 Del. C. 1953, §  2927;  56 Del. Laws, c. 380, §  1;
18 DE Code § 2928. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 29. Life Insurance and Annuity Contracts|§ 2928. Provisions required by law of other jurisdiction.

§ 2928. Provisions required by law of other jurisdiction. The policies of a foreign life insurer when issued in this State may contain any provision which the law of the state, territory, district or country under which the insurer is organized prescribes shall be in such policies, and the policies of a domestic life insurer may, when issued or delivered in any other state, territory, district or country, contain any provisions required by the laws thereof, anything in this chapter to the contrary notwithstanding. 18 Del. C. 1953, §  2928;  56 Del. Laws, c. 380, §  1;
18 DE Code § 2930. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 29. Life Insurance and Annuity Contracts|§ 2930. Incontestability; limitation of liability after reinstatement.

§ 2930. 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 any life insurance policy or annuity contract is reinstated, such reinstated policy or contract may exclude or restrict liability to the same extent that such liability could have been or was excluded or restricted when the policy or contract was originally issued and such exclusion or restriction shall be effective from the date of reinstatement. 18 Del. C. 1953, §  2931;  56 Del. Laws, c. 380, §  1;
18 DE Code § 2931. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 29. Life Insurance and Annuity Contracts|§ 2931. Participating, nonparticipating policies; right to issue.

§ 2931. Participating, nonparticipating policies; right to issue. A life insurer may issue policies on either the participating basis or the nonparticipating basis, or on both bases, if the right or absence of right of participation is reasonably related to the premium charged and the insurer is otherwise not in violation of Chapter 23 of this title. 18 Del. C. 1953, §  2932;  56 Del. Laws, c. 380, §  1;
18 DE Code § 2934. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 29. Life Insurance and Annuity Contracts|§ 2934. Registered policies, bonds; deposit.

§ 2934. Registered policies, bonds; deposit. Any domestic life insurer shall deposit with the Commissioner securities of the kind required and authorized by law for the investment of life insurance funds, for the common benefit of the holders of its “registered” policies and bonds heretofore issued, which deposit shall be held by him or her and his or her successors in office, in trust for the purposes and objects specified therein. 18 Del. C. 1953, §  2935;  56 Del. Laws, c. 380, §  1;  70 Del. Laws, c. 186, §  1;
18 DE Code § 2935. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 29. Life Insurance and Annuity Contracts|§ 2935. Registered policies, bonds — Identification.

§ 2935. Registered policies, bonds — Identification. All such registered policies or bonds of each kind and class issued shall have imprinted thereon some appropriate designating letter, combination of letters or terms identifying the special forms of contract, and whenever any change or modification is made in the forms of contracts, policy or bond, the designating letters or terms thereon shall be correspondingly changed. 18 Del. C. 1953, §  2936;  56 Del. Laws, c. 380, §  1;
18 DE Code § 2936. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 29. Life Insurance and Annuity Contracts|§ 2936. Registered policies, bonds — Records of Commissioner; valuation.

§ 2936. Registered policies, bonds — Records of Commissioner; valuation. (a) The Commissioner shall prepare and keep such records of all “registered” policies and bonds as will enable him or her to ascertain the reserve required thereon at any time according to the method and basis of valuation prescribed in §§ 1111-1113 of this title. Upon sufficient proof, attested by the president or vice-president and secretary of an insurer which has issued such “registered” policies or bonds, that any of them have been commuted or terminated, the Commissioner shall commute or cancel them upon his or her records. (b) On December 31 in every year, or within 60 days thereafter, the Commissioner shall cause the registered policies and bonds in force in each insurer to be carefully valued and the net reserve thereon ascertained according to the method and basis of valuation prescribed in §§ 1111-1113 of this title, and he or she shall thereupon furnish a certificate of the aggregate amount of such reserve to the respective insurers. The Commissioner may employ a competent actuary to make such computation, who shall be paid by the insurer for which the services are rendered, or the Commissioner may accept the computations of any of the insurers upon such proof as he or she may determine. 18 Del. C. 1953, §  2937;  56 Del. Laws, c. 380, §  1;  70 Del. Laws, c. 186, §  1;
18 DE Code § 2937. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 29. Life Insurance and Annuity Contracts|§ 2937. Registered policies, bonds — Additional deposits.

§ 2937. Registered policies, bonds — Additional deposits. Each insurer which shall have registered policies or bonds outstanding shall make additional deposits from time to time, as the Commissioner may prescribe, in amounts of not less than $5,000, and of such securities as domestic life insurers are authorized by law to invest in, so that the market or amortized value of the securities on deposit shall always at least equal the net reserve required by the method and basis of valuation prescribed in §§ 1111-1113 of this title, on all the registered policies and bonds in force in the insurer. 18 Del. C. 1953, §  2938;  56 Del. Laws, c. 380, §  1;
18 DE Code § 2938. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 29. Life Insurance and Annuity Contracts|§ 2938. Registered policies, bonds — Deficient deposit.

§ 2938. Registered policies, bonds — Deficient deposit. The Commissioner shall keep a careful record of the securities deposited by each insurer, and when furnishing the annual certificates of value, he or she shall enter thereon the amount and value of the securities deposited by such insurer. If at any time it appears from such certificates or otherwise that the value of securities held on deposit is less than the reserve required by the method and basis of valuation prescribed in §§ 1111-1113 of this title on all the registered policies and bonds in force in such insurer, the insurer shall have made good the deficit. If the insurer fails to make good such deficit for 60 days it shall be deemed insolvent and shall be proceeded against in the manner provided by Chapter 59 (Rehabilitation and Liquidation) of this title. 18 Del. C. 1953, §  2939;  56 Del. Laws, c. 380, §  1;  70 Del. Laws, c. 186, §  1;
18 DE Code § 2939. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 29. Life Insurance and Annuity Contracts|§ 2939. Registered policies, bonds — Effect of insolvency.

§ 2939. Registered policies, bonds — Effect of insolvency. In case an insurer having securities on deposit as to such registered policies or bonds shall be adjudged insolvent or be dissolved, the proper court shall make and enforce the necessary orders to place said securities, or any part of them, at the sole disposal of the Commissioner. 18 Del. C. 1953, §  2940;  56 Del. Laws, c. 380, §  1;
18 DE Code § 2940. (2021)
2021 Delaware Code|Title 18 - Insurance Code|Chapter 29. Life Insurance and Annuity Contracts|§ 2940. Registered policies, bonds — Applicability of general deposit provisions.

§ 2940. Registered policies, bonds — Applicability of general deposit provisions. The applicable provisions of Chapter 15 (Administration of Deposits) of this title shall apply as to all deposits relating to such registered policies and bonds, where not inconsistent with the express provisions of §§ 2934-2939 of this title. 18 Del. C. 1953, §  2941;  56 Del. Laws, c. 380, §  1;