reglab/statecodes huggingface dataset:
2023 Idaho Code › Title 41 - INSURANCE › Chapter 18 - THE INSURANCE CONTRACT › Section 41-1830 - NOTICE OF LAPSE OR TERMINATION OF INDIVIDUAL LIFE INSURANCE.

41-1830. NOTICE OF LAPSE OR TERMINATION OF INDIVIDUAL LIFE INSURANCE. (1) Notwithstanding the provisions of section 41-1927, Idaho Code, an individual life insurance policy shall not be issued or delivered in this state until the applicant has been afforded the option of designating one (1) person, in addition to the applicant, to receive notice of lapse or termination of a policy for nonpayment of premium.
(2) A designation made pursuant to subsection (1) of this section shall be on a form provided by the insurer. The applicant shall, on such form, provide the full name, address and telephone number of the person designated to receive notice of lapse or termination of the policy for nonpayment of premium.
(3) The insurer shall annually notify a policy owner of the right to:
(a) Make a designation pursuant to subsection (1) of this section;
(b) Change the designee; and
(c) Update the contact information of the designee.
(4) The policy owner may, at the policy owner’s discretion, change the designee or change the contact information of the designee more often than annually, and the insurer shall make available the form for such changes at the policy owner’s request.
(5) No individual life insurance policy shall lapse or be terminated for nonpayment of premium unless the insurer, at least fourteen (14) days prior to the effective date of the lapse or termination, sends notice by first-class United States mail to the policy owner and to the policy owner’s designee, if a designation has been made pursuant to this section, of the lapse or termination, at the address or addresses provided by the policy owner for purposes of receiving such notice.
(6) The provisions of this section shall apply to any individual life insurance policy issued or in force on or after January 1, 2018. Provided however, that the provisions of this section do not apply to any life insurance policy under which premiums are payable monthly or more frequently.
History:
[41-1830, added 2017, ch. 265, sec. 1, p. 660.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 18 - THE INSURANCE CONTRACT › Section 41-1831 - FORMS FOR PROOF OF LOSS TO BE FURNISHED.

41-1831. FORMS FOR PROOF OF LOSS TO BE FURNISHED. An insurer shall furnish, upon written request of any person claiming to have a loss under an insurance contract issued by such insurer, forms of proof of loss for completion by such person, but such insurer shall not, by reason of the requirement so to furnish forms, have any responsibility for or with reference to the completion of such proof or the manner of any such completion or attempted completion.
History:
[41-1831, added 1961, ch. 330, sec. 423, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 18 - THE INSURANCE CONTRACT › Section 41-1832 - CLAIMS ADMINISTRATION NOT WAIVER.

41-1832. CLAIMS ADMINISTRATION NOT WAIVER. Without limitation of any right or defense of an insurer otherwise, none of the following acts by or on behalf of an insurer shall be deemed to constitute a waiver of any provision of a policy or of any defense of the insurer thereunder:
(1) Acknowledgment of the receipt of notice of loss or claim under the policy.
(2) Furnishing forms for reporting a loss or claim, for giving information relative thereto, or for making proof of loss, or receiving or acknowledging receipt of any such forms or proofs completed or uncompleted.
(3) Investigating any loss or claim under any policy or engaging in negotiations looking toward a possible settlement of any such loss or claim.
History:
[41-1832, added 1961, ch. 330, sec. 424, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 18 - THE INSURANCE CONTRACT › Section 41-1833 - EXEMPTION OF PROCEEDS — LIFE INSURANCE.

41-1833. EXEMPTION OF PROCEEDS — LIFE INSURANCE. (1) If a policy of insurance, whether heretofore or hereafter issued, is effected by any person on his own life, or on another life, in favor of a person other than himself, or, except in cases of transfer with intent to defraud creditors, if a policy of life insurance is assigned or in any way made payable to any such person, the lawful beneficiary or assignee thereof, other than the insured or the person so effecting such insurance or executors or administrators of such insured or the person so effecting such insurance, shall be entitled to its proceeds and avails against the creditors and representatives of the insured and of the person effecting the same, whether or not the right to change the beneficiary is reserved or permitted, and whether or not the policy is made payable to the person whose life is insured if the beneficiary or assignee shall predecease such person, and such proceeds and avails shall be exempt from all liability for any debt of the beneficiary existing at the time the policy is made available for his use: provided, that subject to the statute of limitations, the amount of any premiums for such insurance paid with intent to defraud creditors, with interest thereon, shall inure to their benefit from the proceeds of the policy; but the insurer issuing the policy shall be discharged of all liability thereon by payment of its proceeds in accordance with its terms, unless, before such payment, the insurer shall have received written notice at its home office, by or in behalf of a creditor, of a claim to recover for transfer made or premiums paid with intent to defraud creditors, with specification of the amount claimed.
(2) For the purposes of subsection (1) above, a policy shall also be deemed to be payable to a person other than the insured if and to the extent that a facility-of-payment clause or similar clause in the policy permits the insurer to discharge its obligation after the death of the individual insured by paying the death benefits to a person as permitted by such clause.
(3) This section shall not be affected by the terms of section 15-6-107, Idaho Code.
History:
[41-1833, added 1961, ch. 330, sec. 425, p. 645; am. 2003, ch. 248, sec. 1, p. 639.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 18 - THE INSURANCE CONTRACT › Section 41-1834 - EXEMPTION OF PROCEEDS — DISABILITY INSURANCE.

41-1834. EXEMPTION OF PROCEEDS — DISABILITY INSURANCE. Except as may otherwise be expressly provided by the policy or contract, the proceeds or avails of all contracts of disability insurance and of provisions providing benefits on account of the insured’s disability which are supplemental to life insurance or annuity contracts heretofore or hereafter effected shall be exempt from all liability for any debt of the insured, and from any debt of the beneficiary existing at the time the proceeds are made available for his use.
This section shall not be affected by the terms of section 15-6-107, Idaho Code.
History:
[41-1834, added 1961, ch. 330, sec. 426, p. 645; am. 2003, ch. 248, sec. 2, p. 640.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 18 - THE INSURANCE CONTRACT › Section 41-1835 - EXEMPTION OF PROCEEDS — GROUP INSURANCE.

41-1835. EXEMPTION OF PROCEEDS — GROUP INSURANCE. (1) A policy of group life insurance or group disability insurance or the proceeds thereof payable to the individual insured or to the beneficiary thereunder, shall not be liable, either before or after payment, to be applied by any legal or equitable process to pay any debt or liability of such insured individual or his beneficiary or of any other person having a right under the policy. The proceeds thereof, when not made payable to a named beneficiary or to a third person pursuant to a facility-of-payment clause, shall not constitute a part of the estate of the individual insured for the payment of his debts.
(2) This section shall not apply to group insurance issued pursuant to this code to a creditor covering his debtors, to the extent that such proceeds are applied to payment of the obligation for the purpose of which the insurance was so issued.
(3) This section shall not be affected by the terms of section 15-6-107, Idaho Code.
History:
[41-1835, added 1961, ch. 330, sec. 427, p. 645; am. 2003, ch. 248, sec. 3, p. 640.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 18 - THE INSURANCE CONTRACT › Section 41-1837 - RETURN OF UNEARNED PREMIUMS ON DESTRUCTION OF PROPERTY.

41-1837. RETURN OF UNEARNED PREMIUMS ON DESTRUCTION OF PROPERTY. In the event of the total destruction of any insured property, on which the total amount of loss or agreed loss shall be less than the total amount insured thereon, the insurer or insurers shall return to the insured the unearned insurance premium for the excess of the insurance over the appraised or agreed loss, to be paid at the same time and in the same manner as the loss shall be paid.
History:
[41-1837, added 1961, ch. 330, sec. 429, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 18 - THE INSURANCE CONTRACT › Section 41-1838 - VENUE OF SUITS AGAINST INSURERS.

41-1838. VENUE OF SUITS AGAINST INSURERS. Suit upon causes of action arising within this state against an insurer upon an insurance contract shall be brought in the county where the cause of action arose or in the county where the policy holder instituting such action resides.
History:
[41-1838, added 1961, ch. 330, sec. 430, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 18 - THE INSURANCE CONTRACT › Section 41-1840 - PREPAYMENT OF CLAIMS.

41-1840. PREPAYMENT OF CLAIMS. (1) No payment or payments made by any person, or by his insurer by virtue of an insurance policy, on account of bodily injury or death or damage to or loss of property of another, shall constitute an admission of liability or waiver of defense as to such injury, death, loss or damage, or be admissible in evidence in any action brought against the insured person or his insurer for damages, indemnity or benefits arising out of such injury, death, loss or damage unless pleaded as a defense to the action.
(2) All such payments shall be credited upon any settlement with respect to the same damage, expense or loss made by, or judgment or award rendered therefor in such an action against, the payor or his insurer, and in favor of any person to whom or on whose account payment was made.
History:
[41-1840, as added by 1969, ch. 214, sec. 49, p. 625.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 18 - THE INSURANCE CONTRACT › Section 41-1841 - BLOCK CANCELLATIONS AND BLOCK NONRENEWALS — NOTICE TO DIRECTOR REQUIRED.

41-1841. BLOCK CANCELLATIONS AND BLOCK NONRENEWALS — NOTICE TO DIRECTOR REQUIRED. (1) Any insurer intending to implement block cancellations or block nonrenewals of insurance policies shall provide the director written notice of such intentions no later than one hundred twenty (120) days prior to such intended action. Such notice shall fully set forth reasons for such action and shall include additional information that the director may deem appropriate. Failure by any insurer to comply with the requirements of this section shall constitute a violation of the provisions of this section and shall render any policy cancellations or nonrenewals by the insurer null and void and without effect. The failure of any insurer to comply with the requirements of this section shall not affect the contract rights of insureds.
(2) At the end of sixty (60) days the intended insurer action shall be deemed approved unless prior thereto it has been affirmatively approved by order of the director.
(3) Block cancellations or block nonrenewals for the provisions of this section and the enforcement of this code, shall be defined to include any of the following: cancellation or nonrenewal of any class, line, type or subject of insurance, or the withdrawal from the business of insurance in Idaho.
(4) The requirements of this section are not a waiver or limitation of the provisions of this code, or other laws of this state, but are additional requirements.
(5) The director may issue reasonable regulations to establish requirements for reporting required herein.
History:
[41-1841, added 1986, ch. 310, sec. 1, p. 762.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 18 - THE INSURANCE CONTRACT › Section 41-1843 - INSURANCE RATES AND CREDIT RATING.

41-1843. INSURANCE RATES AND CREDIT RATING. (1) No insurer regulated pursuant to this title shall charge a higher premium than would otherwise be charged, or cancel, nonrenew or decline to issue a property or casualty policy or coverage based primarily upon an individual’s credit rating or credit history.
(2) As used in this section, "based primarily" means that the weight given by the insurer to an individual’s credit rating or credit history exceeds the weight given by the insurer to all other criteria considered in making the decision to charge a higher premium or to cancel, nonrenew or decline to issue an insurance policy.
(3) This section shall apply only to property or casualty insurance, as defined in chapter 5, title 41, Idaho Code, to be used primarily for personal, family or household purposes.
History:
[41-1843, added 2002, ch. 264, sec. 1, p. 786.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 18 - THE INSURANCE CONTRACT › Section 41-1844 - PRESCRIPTION DRUG BENEFIT RESTRICTIONS PROHIBITED.

41-1844. PRESCRIPTION DRUG BENEFIT RESTRICTIONS PROHIBITED. (1) A group policy or contract providing for third-party payment or prepayment for prescription drugs may designate an affiliated mail order pharmacy or other specific pharmacy but it shall not require a person covered under the policy or contract to obtain prescription drugs from the mail order pharmacy or any specifically designated pharmacy, nor shall it set forth provisions for the payment of additional fees or deductibles by the covered person as a condition of obtaining benefits for prescription drugs if a registered pharmacy selected by the covered person agrees to provide pharmaceutical services under the same terms and conditions as those provided by said mail order pharmacy or specifically designated pharmacy.
(2) Group policy or contracts providing for third-party payment or for prescription drugs delivered, issued for delivery, continued, or renewed in this state on or after July 1, 1991, are subject to the provisions of this section.
History:
[41-1844, added 1991, ch. 123, sec. 1, p. 268.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 18 - THE INSURANCE CONTRACT › Section 41-1845 - RECREATIONAL-RELATED ACTIVITIES.

41-1845. RECREATIONAL-RELATED ACTIVITIES. (1) No company providing health insurance benefits may:
(a) Deny health care coverage to any individual based solely on that individual’s casual or nonprofessional participation in the following activities: motorcycling, snowmobiling, off-highway vehicle riding, skiing, snowboarding, horseback riding or similar activities; or
(b) Exclude medical benefits under health care coverage to any covered individual based solely on that individual’s casual or nonprofessional participation in the following activities: motorcycling, snowmobiling, off-highway vehicle riding, skiing, snowboarding, horseback riding or similar activities.
(2) Nothing in this section shall preclude, alter or otherwise affect the subrogation rights of companies providing health insurance benefits.
History:
[41-1845, added 2003, ch. 303, sec. 1, p. 833.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 18 - THE INSURANCE CONTRACT › Section 41-1846 - HEALTH CARE POLICIES — APPLICABILITY — REQUIREMENT.

41-1846. HEALTH CARE POLICIES — APPLICABILITY — REQUIREMENT. (1) An insurer offering a health care policy that does not meet the definition of a managed care plan as provided in section 41-3903(15), Idaho Code:
(a) Must have the intent to render and the capability for rendering or providing coverage for good quality health care services, which will be and are readily available and accessible to its insureds both within and outside the state of Idaho, and such services must be reasonably responsive to the needs of insureds;
(b) When "emergency services" are provided, they shall be provided as set forth in section 41-3903(7), Idaho Code, and shall not require prior authorization;
(c) Shall include on its website and/or send annually to its policyholders:
(i) A statement as to whether the plan includes a limited formulary of medications and a statement that the formulary will be made available to any member on request;
(ii) Notification of any change in benefits; and
(iii) A description of all prior authorization review procedures for health care services;
(d) Shall adopt procedures for a timely review by a licensed physician, peer provider or peer review panel when a claim has been denied as not medically necessary or as experimental. The procedure shall provide for a written statement of the reasons the service was denied and transmittal of that information to the appropriate provider for inclusion in the insured’s permanent medical record;
(e) When prior approval for a covered service is required of and obtained by or on behalf of an insured, the approval for the specific procedure shall be final and may not be rescinded after the covered service has been provided except in cases of fraud, misrepresentation, nonpayment of premium, exhaustion of benefits or if the insured for whom the prior approval was granted is not enrolled at the time the covered service was provided; and
(f) Shall not offer a provider any incentive that includes a specific payment made, in any type or form, to the provider as an inducement to deny, reduce, limit, or delay specific, medically necessary, and appropriate services covered by the health care policy.
(2) No health care provider shall require an insured to make additional payments for covered services under a policy subject to subsection (1) of this section, other than specified deductibles, copayments or coinsurance once a provider has agreed in writing to accept the insurer’s reimbursement rate to provide a covered service.
History:
[41-1846, added 2004, ch. 283, sec. 1, p. 798.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 18 - THE INSURANCE CONTRACT › Section 41-1847 - ASSIGNMENT OF HEALTH INSURANCE CONTRACTS.

41-1847. ASSIGNMENT OF HEALTH INSURANCE CONTRACTS. (1) No insurer, as defined in section 41-5601, Idaho Code, shall assign the benefits of any contract with a practitioner or facility, as defined in section 41-5601, Idaho Code, that contains an agreement by the practitioner or facility to provide services to a patient covered by the insurer at a fee which is discounted from that practitioner’s or facility’s usual and customary fee, unless the contract between the insurer and the practitioner or facility, in conspicuous and plain language, specifically permits the contract to be assigned.
(2) An insurer shall send prompt written or electronic notice to the practitioner or facility, in conformance with the notice provisions of the contract between the insurer and the practitioner or facility, of each assignment it makes that is permitted by subsection (1) of this section. The notice shall identify the name and principal business address of each assignee.
(3) An assignment in violation of this section shall be void. The director shall enforce the provisions of this section and shall review and, if appropriate, investigate complaints received by the department related to noncompliance with the provisions of this section. If the director determines an insurer has violated the provisions of this section, the director may impose an administrative fine not to exceed five thousand dollars ($5,000) based upon an enforcement action. The director shall not suspend or revoke an insurer’s certificate of authority for violation of this section. This section shall not create a private cause of action by or on behalf of a beneficiary or practitioner or facility against an insurer.
History:
[41-1847, added 2008, ch. 139, sec. 1, p. 400.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 18 - THE INSURANCE CONTRACT › Section 41-1848 - LEGISLATIVE FINDINGS AND PURPOSE — COVERAGE FOR ABORTIONS IN STATE EXCHANGE PROHIBITED.

41-1848. LEGISLATIVE FINDINGS AND PURPOSE — COVERAGE FOR ABORTIONS IN STATE EXCHANGE PROHIBITED. (1) The legislature finds that:
(a) Pursuant to section 1303 of the patient protection and affordable care act, P.L. 111-148, states are explicitly permitted to pass laws prohibiting qualified health plans offered through an exchange in their state from offering abortion coverage;
(b) It is the longstanding policy of this state to prefer live childbirth over abortion and to prohibit the use of taxpayer moneys to fund abortions unless the mother’s life is at risk or the pregnancy is a result of rape or incest;
(c) Idaho law prohibits certain insurance plans, policies and contracts issued in this state from offering coverage for elective abortions; and
(d) It is the purpose of this section to affirmatively prohibit qualified health plans that cover abortions from participating in exchanges within this state.
(2) Notwithstanding any other provision of law, no abortion coverage may be provided by a qualified health plan offered through an exchange created pursuant to the patient protection and affordable care act, P.L. 111-148, within the state of Idaho.
(3) The provisions of subsection (2) of this section shall not apply to an abortion performed if it is the recommendation of one (1) consulting physician that an abortion is necessary to save the life of the mother, or if the pregnancy is a result of rape, as defined in section 18-6101, Idaho Code, or incest as determined by the courts.
History:
[41-1848, added 2011, ch. 152, sec. 1, p. 436.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 18 - THE INSURANCE CONTRACT › Section 41-1852 - DISCRIMINATION AGAINST LIVING ORGAN DONORS PROHIBITED.

41-1852. DISCRIMINATION AGAINST LIVING ORGAN DONORS PROHIBITED. (1) For purposes of this section, "policy" means a life insurance policy, disability insurance policy or long-term care insurance policy.
(2) Notwithstanding any provision of law to the contrary, it shall be unlawful to discriminate against a person in the offering, issuance, cancellation, price or conditions of a policy, or in the amount of coverage provided under a policy, based solely and without any additional actuarial risks on the status of such person as a living organ donor.
(3) The director of the department of insurance may take such actions authorized under this title that are necessary to enforce this section.
History:
[41-1852, added 2018, ch. 167, sec. 1, p. 341.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1901 - SCOPE OF CHAPTER.

41-1901. SCOPE OF CHAPTER. This chapter applies only to contracts of life insurance and annuities, other than reinsurance, group life insurance and group annuities.
History:
[41-1901, added 1961, ch. 330, sec. 432, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1902 - “INDUSTRIAL LIFE INSURANCE” DEFINED.

41-1902. "INDUSTRIAL LIFE INSURANCE" DEFINED. For the purposes of this code "industrial life insurance" is that form of life insurance written under policies of face amount of one thousand dollars ($1,000) or less bearing the words "industrial policy" imprinted on the face thereof as part of the descriptive matter, and under which premiums are payable monthly or more often.
History:
[41-1902, added 1961, ch. 330, sec. 433, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1903 - STANDARD PROVISIONS REQUIRED.

41-1903. STANDARD PROVISIONS REQUIRED. (1) No policy of life insurance other than group, and pure endowments with or without return of premiums or of premiums and interest, shall be delivered or issued for delivery in this state unless it contains in substance all of the applicable provisions required by sections 41-1904 to 41-1915, [Idaho Code,] inclusive, of this chapter. This section shall not apply to annuity contracts nor to any provision of 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.
(2) Any of such provisions or portions thereof not applicable to single premium or term policies shall to that extent not be incorporated therein.
History:
[41-1903, added 1961, ch. 330, sec. 434, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1904 - GRACE PERIOD.

41-1904. GRACE PERIOD. There shall be a provision that a grace period of thirty (30) days, or, at the option of the insurer, of one (1) month of not less than thirty (30) days, or of four (4) weeks in the case of industrial life insurance policies the premiums for which are payable more frequently than monthly, shall be allowed within which the payment of any premium after the first policy year may be made, during which period of grace the policy shall continue in full force; the insurer may impose an interest charge not in excess of six per cent (6%) per annum for the number of days of grace elapsing before the payment of the premium, and, whether or not such interest charge is imposed, if a claim arises under the policy during such period of grace the amount of any premium due or overdue, together with interest and any deferred instalment of the annual premium, may be deducted from the policy proceeds.
History:
[41-1904, added 1961, ch. 330, sec. 435, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1905 - INCONTESTABILITY.

41-1905. INCONTESTABILITY. There shall be a provision that the policy (exclusive of provisions relating to disability benefits or to additional benefits in the event of death by accident or accidental means) shall be incontestable, except for nonpayment of premiums, after it has been in force during the lifetime of the insured for a period of two (2) years from its date of issue.
History:
[41-1905, added 1961, ch. 330, sec. 436, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1906 - ENTIRE CONTRACT.

41-1906. ENTIRE CONTRACT. There shall be a provision that the policy, or the policy and the application therefor if a copy of such application is endorsed upon or attached to the policy when issued, shall constitute the entire contract between the parties, and that all statements contained in such an application shall, in the absence of fraud, be deemed representations and not warranties.
History:
[41-1906, added 1961, ch. 330, sec. 437, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1907 - MISSTATEMENT OF AGE.

41-1907. MISSTATEMENT OF AGE. There shall be a provision that if the age of the insured or of any other person whose age is considered in determining the premium or benefit has been misstated, any amount payable or benefit accruing under the policy shall be such as the premium would have purchased at the correct age or ages.
History:
[41-1907, added 1961, ch. 330, sec. 438, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1908 - DIVIDENDS.

41-1908. DIVIDENDS. (1) There shall be a provision in participating policies that, beginning not later than the end of the third policy year, the insurer shall annually ascertain and apportion the divisible surplus, if any, that will accrue on the policy anniversary or other dividend date specified in the policy provided the policy is in force and all premiums to that date are paid. Except as hereinafter provided, any dividend becoming payable shall at the option of the party entitled to elect such option be either:
(a) Payable in cash, or
(b) Applied to any one of such other dividend options as may be provided by the policy. If any such other dividend options are provided, the policy shall further state which option shall be automatically effective if such party shall not have elected some other option. If the policy specifies a period within which such other dividend option may be elected, such period shall be not less than thirty (30) days following the date on which such dividend is due and payable. The annually apportioned dividend shall be deemed to be payable in cash within the meaning of (a) above even though the policy provides that payment of such dividend is to be deferred for a specified period, provided such period does not exceed six (6) years from the date of apportionment and that interest will be added to such dividend at a specified rate. If a participating policy provides that the benefit under any paid-up nonforfeiture provision is to be participating, it may provide that any divisible surplus becoming payable or apportioned while the insurance is in force under such nonforfeiture provision shall be applied in the manner set forth in the policy.
(2) In participating industrial life insurance policies, in lieu of the provision required in subsection (1) above, there shall be a provision that, beginning not later than the end of the fifth policy year, the policy shall participate annually in the divisible surplus, if any, in the manner set forth in the policy.
History:
[41-1908, added 1961, ch. 330, sec. 439, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1910 - TABLE OF INSTALMENTS.

41-1910. TABLE OF INSTALMENTS. In case the policy provides that the proceeds may be payable in instalments which are determinable at issue of the policy, there shall be a table showing the amounts of the guaranteed instalments.
History:
[41-1910, added 1961, ch. 330, sec. 441, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1911 - REINSTATEMENT.

41-1911. REINSTATEMENT. There shall be a provision that unless:
(1) The policy has been surrendered for its cash surrender value, or
(2) Its cash surrender value has been exhausted, or
(3) The paid-up term insurance, if any, has expired,
the policy will be reinstated at any time within three (3) years (or two (2) years in the case of industrial life insurance policies) from the date of premium default upon written application therefor, the production of evidence of insurability satisfactory to the insurer, the payment of all premiums in arrears with interest at a rate not exceeding eight per cent (8%) per annum compounded annually and the payment or reinstatement of any other policy indebtedness with interest at a rate not exceeding the applicable policy loan rate or rates determined in accordance with the policy’s provisions.
History:
[41-1911, added 1961, ch. 330, sec. 442, p. 645; am. 1993, ch. 185, sec. 1, p. 467.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1912 - PAYMENT OF PREMIUMS.

41-1912. PAYMENT OF PREMIUMS. There shall be a provision relative to the payment of premiums.
History:
[41-1912, added 1961, ch. 330, sec. 443, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1913 - PAYMENT OF CLAIMS.

41-1913. PAYMENT OF CLAIMS. There shall be a provision that when a policy shall become a claim by the death of the insured, settlement shall be made upon receipt of due proof of death and, at the insurer’s option, surrender of the policy and/or proof of the interest of the claimant. If an insurer shall specify a particular period prior to the expiration of which settlement shall be made, such period shall not exceed two (2) months from the receipt of such proofs.
History:
[41-1913, added 1961, ch. 330, sec. 444, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1914 - BENEFICIARY — INDUSTRIAL POLICIES.

41-1914. BENEFICIARY — INDUSTRIAL POLICIES. An industrial life insurance policy shall have the name of the beneficiary designated thereon with a reservation of the right to designate or change the beneficiary after the issuance of the policy. The policy may also provide that no designation or change of beneficiary shall be binding on the insurer until endorsed on the policy by the insurer, and that the insurer may refuse to endorse the name of 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 thirty (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.
History:
[41-1914, added 1961, ch. 330, sec. 446, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1916 - EXCLUDED OR RESTRICTED COVERAGE.

41-1916. 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.
History:
[41-1916, added 1961, ch. 330, sec. 447, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1917 - STANDARD PROVISIONS — ANNUITY AND PURE ENDOWMENT CONTRACTS.

41-1917. STANDARD PROVISIONS — ANNUITY AND PURE ENDOWMENT CONTRACTS. (1) 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 sections 41-1918 to 41-1923, inclusive, of this chapter. Any of such provisions not applicable to single premium annuities or single premium pure endowment contracts shall not, to that extent, be incorporated therein.
(2) This section shall not apply to contracts for deferred annuities included in, or upon the lives of beneficiaries under, life insurance policies.
History:
[41-1917, added 1961, ch. 330, sec. 448, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1918 - GRACE PERIOD — ANNUITIES.

41-1918. 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 one month, but not less than thirty (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 six per cent (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.
History:
[41-1918, added 1961, ch. 330, sec. 449, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1919 - INCONTESTABILITY — ANNUITIES.

41-1919. 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 section 41-1921 of this chapter, 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 two (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.
History:
[41-1919, added 1961, ch. 330, sec. 450, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1920 - ENTIRE CONTRACT — ANNUITIES.

41-1920. 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.
History:
[41-1920, added 1961, ch. 330, sec. 451, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1921 - MISSTATEMENT OF AGE OR SEX — ANNUITIES.

41-1921. 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 six per cent (6%) per annum, may be charged against the current or next succeeding payment or payments to be made by the insurer under the contract.
History:
[41-1921, added 1961, ch. 330, sec. 452, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1922 - DIVIDENDS — ANNUITIES.

41-1922. 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.
History:
[41-1922, added 1961, ch. 330, sec. 453, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1923 - REINSTATEMENT — ANNUITIES.

41-1923. 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 one 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 six per cent (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.
History:
[41-1923, added 1961, ch. 330, sec. 454, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1924 - STANDARD PROVISIONS — REVERSIONARY ANNUITIES.

41-1924. STANDARD PROVISIONS — REVERSIONARY ANNUITIES. (1) 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:
(a) Any such reversionary annuity contract shall contain the provisions specified in sections 41-1918 through 41-1922 except that under section 41-1918 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.
(b) In such reversionary annuity contracts there shall be a provision that the contract may be reinstated at any time within three years from the date of default in making stipulated payments to the insurer, upon production of evidence of insurability satisfactory to the insurer, and upon condition that all overdue payments and any indebtedness to the insurer on account of the contract be paid, or, within the limits permitted by the then cash values of the contract, reinstated, with interest as to both payments and indebtedness at a rate to be specified in the contract but not exceeding six per cent (6%) per annum compounded annually.
(2) 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.
History:
[41-1924, added 1961, ch. 330, sec. 455, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1925 - LIMITATION OF LIABILITY.

41-1925. LIMITATION OF LIABILITY. (1) No policy of life insurance shall be delivered or issued for delivery in this state if it contains any of the following provisions:
(a) A provision for a period shorter than that provided by statute within which an action at law or in equity may be commenced on such a policy.
(b) 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:
(i) 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;
(ii) Death as a result of aviation or any air travel or flight;
(iii) Death as a result of a specified hazardous occupation or occupations;
(iv) Death while the insured is a resident outside continental United States and Canada; or
(v) Death within two (2) years from the date of issue of the policy as a result of suicide, while sane or insane.
(2) A policy which contains any exclusion or restriction pursuant to subsection (1) 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 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 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.
(3) This section shall 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 the event of death by accident or accidental means.
(4) Nothing contained in this section shall prohibit any provision which in the opinion of the director is more favorable to the policyholder that a provision permitted by this section.
History:
[41-1925, added 1961, ch. 330, sec. 456, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1926 - PROHIBITED PROVISIONS — INDUSTRIAL LIFE INSURANCE.

41-1926. 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 two 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:
[41-1926, added 1961, ch. 330, sec. 457, p. 645.]
2023 Idaho Code › Title 41 - INSURANCE › Chapter 19 - LIFE INSURANCE POLICIES AND ANNUITY CONTRACTS › Section 41-1928 - NONFORFEITURE BENEFITS — CERTAIN INTERIM POLICIES.

41-1928. NONFORFEITURE BENEFITS — CERTAIN INTERIM POLICIES. (1) Each life insurance policy issued between the effective date of this code and the operative date of section 41-1927 (standard nonforfeiture law) shall contain:
(a) An automatic nonforfeiture provision, which must be either a loan, a paid-up policy, or an extended term, to which the policyholder is entitled in the event of default in a premium payment after three (3) full annual premiums shall have been paid.
(b) Tables showing in figures the cash, paid-up and extended insurance options available under the policy each year upon default in premium payments, during the first twenty (20) years of the policy, or for its life if maturity is less than twenty (20) years.
(c) At the insurer’s option, a provision that the insurer shall have the right to defer payment of the cash value for a period not exceeding six (6) months.
(2) The value of the options referred to in subdivision (b) above, shall be equivalents based on the reserves which shall be computed according to the tables of mortality and rate of interest named in the policy, and according to a basis and method of valuation acceptable under section 41-612(3) (standard valuation law), less a specified surrender charge, not exceeding two and one-half per cent (2 1/2%) of the amount of insurance. Provided, however, that if the benefits under the policy are calculated according to a more modern table than the American experience table of mortality, the value of any extended term insurance, with accompanying pure endowment, if any, may be calculated according to rates of mortality not exceeding one hundred thirty per cent (130%) of the rates according to such more modern table.
(3) Any of the foregoing provisions or portions thereof not applicable to single premium or term policies need not to that extent be incorporated therein. This section shall not apply to industrial insurance, annuities, pure endowments with or without return premium, and policies of reinsurance.
History:
[41-1928, added 1961, ch. 330, sec. 459, p. 645.]