reglab/statecodes huggingface dataset:
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › GENERAL PROVISIONS (§§ 83-7-1 — 83-7-51) › Section 83-7-51 - Notice of right to return policy; effect of return

Every individual life insurance policy or contract issued for delivery in the State of Mississippi on or after July 1, 1989, by an insurance company or association shall have printed thereon or attached thereto a notice stating, in substance, that the person to whom the policy or contract is issued shall be permitted to return the policy or contract within ten (10) days of its delivery to said purchaser and to have the premium paid refunded if, after examination of the policy or contract, the purchaser is not satisfied with it for any reason. If a policyholder or purchaser, pursuant to such notice, returns the policy or contract to the insurance company or association at its home or branch office or to the agent through whom it was purchased, it shall be void from the beginning, and the parties shall be in the same position as if no policy or service contract had been issued.
Laws, 1989, ch. 340, § 1, eff. 7/1/1989.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › ACCELERATED BENEFITS (§§ 83-7-101 — 83-7-119) › Section 83-7-101 - Definitions

(a)
"Accelerated benefits" are benefits payable under a life insurance contract:
(i)
To a policy owner, during the lifetime of the insured, in anticipation of death or upon the occurrence of specified life-threatening or catastrophic conditions as defined by the policy or rider;
(ii)
Which reduce the death benefit otherwise payable under the life insurance contract (excluding accidental death and other ancillary benefits); and
(iii)
Which are payable, in a lump sum or in periodic payments, at the option of the insured.
(b)
"Qualifying event" means one or more of the following:
(i)
A medical condition which would result in a drastically limited life span, for example, twenty-four (24) months or less;
(ii)
A medical condition which has required or requires extraordinary medical intervention, such as, but not limited to, major organ transplant or continuous artificial life support, without which the insured would die;
(iii)
A medical condition which would, in the absence of extensive or extraordinary medical treatment, result in a drastically limited life span. Such conditions may include, but are not limited to, one or more of the following:
1.
Coronary artery disease resulting in an acute infarction or requiring surgery;
2.
Permanent neurological deficit resulting from cerebral vascular accident;
3.
End stage renal failure; or
4.
Other qualifying event which the Commissioner of Insurance shall approve for any particular filing.
Laws, 1991, ch. 464, § 1, eff. 7/1/1991.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › ACCELERATED BENEFITS (§§ 83-7-101 — 83-7-119) › Section 83-7-103 - Accelerated benefit provisions as not representing morbidity risks

Accelerated benefit riders and life insurance policies with accelerated benefit provisions do not represent morbidity risks.
Laws, 1991, ch. 464, § 2, eff. 7/1/1991.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › ACCELERATED BENEFITS (§§ 83-7-101 — 83-7-119) › Section 83-7-105 - Acknowledgement of concurrence for payout prior to payment

Prior to the payment of the accelerated benefit, the insurer shall receive from any assignee or irrevocable beneficiary a signed acknowledgement of concurrence for payout.
Laws, 1991, ch. 464, § 3, eff. 7/1/1991.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › ACCELERATED BENEFITS (§§ 83-7-101 — 83-7-119) › Section 83-7-107 - Options for payment; minimum amounts

The benefit shall be paid in a lump sum, or in periodic payments for a fixed period of time, or in a fixed amount for an indefinite period of time, at the option of the insured. Companies may set minimums on the face amount of contracts for which the benefit shall be offered.
Laws, 1991, ch. 464, § 4, eff. 7/1/1991.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › ACCELERATED BENEFITS (§§ 83-7-101 — 83-7-119) › Section 83-7-109 - Requirement that name given coverage be descriptive of coverage provided; disclosure of information; signatures

(1)
The name given the coverage must be descriptive of the coverage provided, and the terminology "accelerated benefit" shall be included in the description.
(2)
Clear disclosure is required at the time of application for the policy and at the time the accelerated benefit payment request is submitted of the potential tax implications of receiving this payout. The disclosure statement shall indicate that receipt of these accelerated benefits may be taxable, and insured should seek assistance from their personal tax advisor. Such disclosure shall be prominently displayed on the first page of the policy or rider and any other related documents.
(3)
Prior to or concurrently with the application, the applicant shall be given an illustration numerically demonstrating the effect of the payment of a benefit on the policy's cash value, death benefit, premium, policy loans and policy liens. In the event of direct mail solicitations, the disclosure shall be made upon acceptance of the application.
(4)
Prior to or concurrently with the application, the applicant shall be given a written disclosure including, but not necessarily limited to, a brief description of the accelerated benefit and definitions of the conditions or occurrences triggering payment of the benefits. The disclosure shall be signed by the applicant, the policy owner and writing agent. In the event of direct mail solicitations, the disclosure shall be made upon acceptance of the application.
(5)
This statement shall appear on the face of every policy or rider: "Cash values, loan values and the death benefit will be reduced if you receive an accelerated benefit." For policies which have no cash or loan values, this statement shall be appropriately modified.
Laws, 1991, ch. 464, § 5, eff. 7/1/1991.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › ACCELERATED BENEFITS (§§ 83-7-101 — 83-7-119) › Section 83-7-111 - Effective date of accelerated benefit

The accelerated benefit shall be effective on the effective date of the policy or rider.
Laws, 1991, ch. 464, § 6, eff. 7/1/1991.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › ACCELERATED BENEFITS (§§ 83-7-101 — 83-7-119) › Section 83-7-113 - Waiver of premium

The accelerated benefit provision may or may not provide for the waiver of premium in the absence of a regular waiver of premium provision being in effect. At the time the benefit is claimed, the company shall explain any continuing premium requirement to keep the policy in force.
Laws, 1991, ch. 464, § 7, eff. 7/1/1991.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › ACCELERATED BENEFITS (§§ 83-7-101 — 83-7-119) › Section 83-7-115 - Discrimination amongst insureds prohibited

Insurers shall not unfairly discriminate among insureds with differing qualifying events or among insureds with similar qualifying events. Insurers shall not apply further conditions on the payment of the accelerated benefits other than those conditions specified in the policy or rider.
Laws, 1991, ch. 464, § 8, eff. 7/1/1991.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › ACCELERATED BENEFITS (§§ 83-7-101 — 83-7-119) › Section 83-7-117 - Disclosure to consumer of any separate identifiable premium for accelerated benefit; options; examples; pro rata reduction in cash value; non-interest bearing lien against death benefit of policy; accidental death benefit not affected by accelerated benefit

(1)
The company shall disclose to the consumer any separate identifiable premium for the accelerated benefit. Those companies indicating that this accelerated benefit is offered without additional premium shall furnish a written explanation to the State Insurance Department when filing the product.
(2)
Two (2) options are available to finance the benefit:
(a)
The insured may make an additional premium payment or cost of insurance charge; or
(b)
The insured may take a present value of the face amount. The calculation would be based on any applicable actuarial discount appropriate to the policy design.
(3)
Companies are required to illustrate, by numerical example, any effect the payment of the accelerated benefit has on the face amount, specified amount, accumulation account, cash values, loan balance and future premiums. Each time an accelerated benefit payment is paid, the company is required to send a statement to the policy owner showing the numerical expression stated in this subsection. Upon the payment of an accelerated benefit amount, the company shall issue an endorsement to the policy to reflect any new, reduced, in-force face amount of the contract.
(4)
(a)
When an accelerated benefit is payable, the NAIC preference is for a pro rata reduction in the cash value, not a reduction of the full amount.
(b)
Alternatively, the payment of accelerated benefits can be considered a non-interest bearing lien against the death benefit of the policy or rider and the access to the cash value shall be restricted to any excess of the cash value over the sum of other outstanding loans and the lien. If the lien approach is used, any accelerated death benefit payments shall first be applied toward repaying the portion of any other outstanding policy loans which would cause the sum of the accelerated death benefit and policy loans to exceed the cash value. Future access to the cash values and to policy loans would be limited to the difference between the cash value and the sum of the lien and any other outstanding policy loans.
(c)
In either case, the death benefit may not be reduced more than the amount of the accelerated benefits paid plus any applicable actuarial discount appropriate to the policy design for policies without additional premium payments. The accidental death benefit, if any, in the policy or rider shall not be affected by the payment of the accelerated benefit.
Laws, 1991, ch. 464, § 9, eff. 7/1/1991.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › ACCELERATED BENEFITS (§§ 83-7-101 — 83-7-119) › Section 83-7-119 - Filing valuation method and assumptions with Department of Insurance; content

At the time of filing of the policy form, the valuation method and assumptions need to be filed with the Department of Insurance. The assumptions should reflect the statutory mortality and interest rate assumptions for life insurance policies and appropriate assumptions for the other provisions incorporated in the policy form.
Laws, 1991, ch. 464, § 10, eff. 7/1/1991.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › VIATICAL SETTLEMENTS (§§ 83-7-201 — 83-7-223) › Section 83-7-201 - Short title

Sections
83-7-201
through
83-7-223
shall be known and may be cited as the "Viatical Settlements Act."
Laws, 2000, ch. 323, § 1, eff. 7/1/2000.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › VIATICAL SETTLEMENTS (§§ 83-7-201 — 83-7-223) › Section 83-7-207 - Suspension, revocation, and refusal to renew license; hearing

(1)
The commissioner may suspend, revoke or refuse to renew the license of a viatical settlement provider, viatical settlement representative or viatical settlement broker if the commissioner finds that:
(a)
There was any material misrepresentation in the application for the license;
(b)
The licensee or any officer, partner or key management personnel has been convicted of fraudulent or dishonest practices, is subject to a final administrative action or is otherwise shown to be untrustworthy or incompetent;
(c)
The viatical settlement provider demonstrates a pattern of unreasonable payments to viators;
(d)
The licensee has been found guilty of, or has pleaded guilty or nolo contendere to, any felony or to a misdemeanor involving fraud or moral turpitude, regardless of whether a judgment of conviction has been entered by the court;
(e)
The viatical settlement provider has failed to honor contractual obligations set out in a viatical settlement contract;
(f)
The licensee no longer meets the requirements for initial licensure;
(g)
The viatical settlement provider has assigned, transferred or pledged a viaticated policy to a person other than a viatical settlement provider licensed in this state or a financing entity; or
(h)
The licensee has violated any provision of Sections
83-7-201
through
83-7-223
.
(2)
Before the commissioner shall deny a license application or suspend, revoke or refuse to renew the license of a viatical settlement provider, viatical settlement broker or viatical settlement representative, the commissioner shall conduct a hearing in accordance with Section
25-43-1.101
et seq.
Laws, 2000, ch. 323, § 4, eff. 7/1/2000.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › VIATICAL SETTLEMENTS (§§ 83-7-201 — 83-7-223) › Section 83-7-209 - Settlement application, contract and disclosure statement forms to be filed with and approved by Commissioner of Insurance

A person shall not provide a viator a viatical settlement application, contract or disclosure statement form in this state unless it has been filed with and approved by the commissioner. The commissioner shall disapprove a viatical settlement application, contract or disclosure statement form if, in the commissioner's opinion, the contract or provisions contained therein are unreasonable, contrary to the interests of the public or otherwise misleading or unfair to the viator.
Laws, 2000, ch. 323, § 5, eff. 7/1/2000.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › VIATICAL SETTLEMENTS (§§ 83-7-201 — 83-7-223) › Section 83-7-211 - Annual statement to be filed with Commissioner; identity of viator not to be disclosed except under certain conditions

(1)
Each viatical settlement provider issued a license under Sections
83-7-201
through
83-7-223
shall file with the commissioner on or before March 1 of each year an annual statement containing such information as the commissioner by rule may prescribe.
(2)
Except as otherwise allowed or required by law, a viatical settlement provider, viatical settlement representative, viatical settlement broker, insurance company, insurance agent, insurance broker, information bureau, rating agency or company, or any other person with actual knowledge of a viator's identity, shall not disclose that identity as a viator to any other person unless the disclosure:
(a)
Is necessary to effect a viatical settlement between the viator and a viatical settlement provider and the viator has provided prior written consent to the disclosure;
(b)
Is provided in response to an investigation by the commissioner or any other governmental officer or agency; or
(c)
Is a term of or condition to the transfer of a viaticated policy by one viatical settlement provider to another viatical settlement provider.
Laws, 2000, ch. 323, § 6, eff. 7/1/2000.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › VIATICAL SETTLEMENTS (§§ 83-7-201 — 83-7-223) › Section 83-7-213 - Examination of records, books, files and other information; provider to maintain records of each settlement until 5 years after death of insured

(1)
The commissioner, when the commissioner deems it reasonably necessary to protect the interests of the public, may examine the business and affairs of any licensee or applicant for a license. The commissioner may order any licensee or applicant to produce any records, books, files or other information reasonably necessary to ascertain whether or not the licensee or applicant is acting or has acted in violation of the law or otherwise contrary to the interests of the public. The expenses incurred in conducting any examination shall be paid by the licensee or applicant.
(2)
Names and individual identification data for all viators shall be considered private and confidential information and shall not be disclosed by the commissioner unless required by law.
(3)
Records of all transactions of viatical settlement contracts shall be maintained by the viatical settlement provider and shall be available to the commissioner for inspection during reasonable business hours. A viatical settlement provider shall maintain records of each viatical settlement until five (5) years after the death of the insured.
Laws, 2000, ch. 323, § 7, eff. 7/1/2000.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › VIATICAL SETTLEMENTS (§§ 83-7-201 — 83-7-223) › Section 83-7-219 - Authority of Commissioner to adopt rules and regulations

The commissioner may:
(a)
Promulgate rules and regulations implementing Sections
83-7-201
through
83-7-223
;
(b)
Establish standards for evaluating reasonableness of payments under viatical settlement contracts. This authority includes, but is not limited to, regulation of discount rates used to determine the amount paid in exchange for assignment, transfer, sale, devise or bequest of a benefit under a life insurance policy;
(c)
Establish appropriate licensing requirements, fees and standards for continued licensure for viatical settlement providers, representatives and brokers;
(d)
Require a bond or other mechanism for financial accountability for viatical settlement providers; and
(e)
Adopt rules governing the relationship and responsibilities of both insurers and viatical settlement providers, brokers and representatives during the viatication of a life insurance policy or certificate.
Laws, 2000, ch. 323, § 10, eff. 7/1/2000.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › VIATICAL SETTLEMENTS (§§ 83-7-201 — 83-7-223) › Section 83-7-221 - Violations of provisions considered unfair trade practice

A violation of Sections
83-7-201
through
83-7-223
shall be considered an unfair trade practice under Section
83-5-29
et seq. and the violator is subject to the penalties therein.
Laws, 2000, ch. 323, § 11, eff. 7/1/2000.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › VIATICAL SETTLEMENTS (§§ 83-7-201 — 83-7-223) › Section 83-7-223 - Continuation of viatical settlement business pending approval or disapproval of license application filed on or before July 1, 2000

A viatical settlement provider, viatical settlement representative or viatical settlement broker transacting business in this state may continue to do so pending approval or disapproval of the provider's, representative's or broker's application for a license if the application is filed with the commissioner by July 1, 2000.
Laws, 2000, ch. 323, § 13, eff. 7/1/2000.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › UNCLAIMED LIFE INSURANCE BENEFITS ACT (§§ 83-7-301 — 83-7-313) › Section 83-7-301 - Short title

Sections
83-7-301
through
83-7-313
shall be known as the "Unclaimed Life Insurance Benefits Act."
Added by Laws, 2014, ch. 431, SB 2796, 1, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › UNCLAIMED LIFE INSURANCE BENEFITS ACT (§§ 83-7-301 — 83-7-313) › Section 83-7-303 - Purpose

Sections
83-7-301
through
83-7-313
confirm the applicability of the escheat and unclaimed property statutes of Mississippi to any method of payment for life insurance death benefits regulated by the Mississippi Department of Insurance, and establish the sole standards by which such escheat and unclaimed property statutes are applicable to such payments.
Added by Laws, 2014, ch. 431, SB 2796, 2, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › UNCLAIMED LIFE INSURANCE BENEFITS ACT (§§ 83-7-301 — 83-7-313) › Section 83-7-305 - Definitions

As used in Sections
83-7-301
through
83-7-313
:
(a)
"Account owner" means the owner of a retained asset account who is a resident of this state.
(b)
"Annuity" means an annuity contract issued in this state. The term "annuity" shall not include any annuity contract used to fund an employment-based retirement plan or program where the insurer takes direction from the plan sponsor and plan administrator.
(c)
"Death master file" means the United States Social Security Administration's Death Master File or any other database or service that is at least as comprehensive as the United States Social Security Administration's Death Master File for determining that a person has reportedly died.
(d)
"Death master file match" means a search of the death master file that results in a match of a person's name and social security number, or the name and date of birth.
(e)
"Insurer" means a life insurance company as defined in Section
83-7-1
.
(f)
"Knowledge of death" shall, for purposes of Sections
83-7-301
through
83-7-313
, for purposes of Section
83-7-6
, and for purposes of establishing the presumption of abandonment of funds held or owing by a life insurance corporation under Section
89-12-7
mean (i) receipt of an original or valid copy of a certified death certificate, or (ii) a death master file match validated by a secondary source by the insurer.
(g)
"Person" means the policy owner, insured, annuity owner, annuitant or account owner, as applicable under the policy, annuity, or retained asset account subject to Sections
83-7-301
through
83-7-313
.
(h)
"Policy" means any policy or certificate of life insurance issued in this state; except the term "policy" shall not include (i) any policy or certificate of life insurance that provides a death benefit under an employee benefit plan subject to The Employee Retirement Income Security Act of 1974 [
29 USC 1002
], as periodically amended, or under any federal employee benefit program, (ii) any policy or certificate of life insurance that is used to fund a preneed funeral contract or prearrangement, (iii) any policy or certificate of credit life or accidental death insurance, (iv) any policy or certificate of industrial life insurance, or (v) any policy issued to a group master policyholder for which the insurer does not provide record keeping services.
(i)
"Record keeping services" means those circumstances under which the insurer has agreed with a group policyholder to be responsible for obtaining, maintaining and administering in its own systems information about each individual insured under an insured's group insurance contract (or a line of coverage thereunder), at least the following information:
(i)
social security number or name and date of birth,
(ii)
beneficiary designation information,
(iii)
coverage eligibility,
(iv)
benefit amount, and
(v)
premium payment status.
Added by Laws, 2014, ch. 431, SB 2796, 3, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › UNCLAIMED LIFE INSURANCE BENEFITS ACT (§§ 83-7-301 — 83-7-313) › Section 83-7-309 - Insurer unclaimed property reporting

In the event that an insurer:
(a)
has identified a person as deceased through a death master file match through a search described in Section
83-7-307(1)
or other information source,
(b)
has validated such information through a secondary information source, and
(c)
is unable to locate a beneficiary under the policy, annuity or retained asset account after conducting reasonable search efforts during the period of up to one (1) year after the insurer's validation of the death master file match, or if no beneficiary, if the person, as applicable for unclaimed reporting purposes, has a last-known address in this state, then the insurer is authorized to report and remit the proceeds of such policy, annuity or retained asset account due to the state on an early reporting basis, without further notice or consent by the state, after attempting to contact such beneficiary pursuant to Section
89-12-7
. Once reported and proceeds are remitted, the insurer shall be relieved and indemnified from any and all additional liability to any person relating to the proceeds reported and remitted, including, but not limited to, any liability under for all proceeds reported and remitted to the state pursuant to Sections
83-7-301
through
83-7-313
. This indemnification from liability shall be in addition to any other protections provided by law. Any proceeds remitted to the state pursuant to Sections
83-7-301
through
83-7-313
shall be deposited in the Abandoned Property Fund maintained by the State Treasurer.
Added by Laws, 2014, ch. 431, SB 2796, 5, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › UNCLAIMED LIFE INSURANCE BENEFITS ACT (§§ 83-7-301 — 83-7-313) › Section 83-7-311 - Limitation on promulgation of rules or regulations that impose additional duties on insurers beyond those set out in Sections 83-7-301 through 83-7-313

Neither the Commissioner of Insurance nor the State Treasurer shall promulgate rules, regulations or issue bulletins that impose, or interpret Sections
83-7-301
through
83-7-313
to impose, additional duties and obligations on insurers beyond those set forth in Sections
83-7-301
through
83-7-313
, or otherwise attempt to expand the requirements of Sections
83-7-301
through
83-7-313
.
Added by Laws, 2014, ch. 431, SB 2796, 6, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 7 - LIFE INSURANCE (§§ 83-7-1 — 83-7-313) › UNCLAIMED LIFE INSURANCE BENEFITS ACT (§§ 83-7-301 — 83-7-313) › Section 83-7-313 - Effect of certain agreements between insurers and Commissioner of Insurance or State Treasurer

In the event that any resolution agreement, regulatory settlement agreement, or a voluntary disclosure agreement between an insurer who has used the death master file to terminate annuity payments but not to locate life beneficiaries and the Commissioner of Insurance or the State Treasurer conflicts with Sections
83-7-301
through
83-7-313
, the terms of the agreement shall supersede Sections
83-7-301
through
83-7-313
.
Added by Laws, 2014, ch. 431, SB 2796, 7, eff. 7/1/2015.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 9 - ACCIDENT, HEALTH AND MEDICARE SUPPLEMENT INSURANCE (§§ 83-9-1 — 83-9-NEW-005) › ACCIDENT AND HEALTH INSURANCE (§§ 83-9-1 — 83-9-36.2) › Section 83-9-1 - Definition of accident and sickness insurance policy

The term "policy of accident and sickness insurance," as used in Sections
83-9-1
through
83-9-21
, includes any individual or group policy or contract of insurance against loss resulting from sickness or from bodily injury, including dental care expenses resulting from sickness or bodily injury, or death by accident, or accidental means, or both.
Codes, 1942, § 5687-01; Laws, 1956, ch. 330, § 1; Laws, 1989, ch. 466, § 2, eff. 7/1/1989.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 9 - ACCIDENT, HEALTH AND MEDICARE SUPPLEMENT INSURANCE (§§ 83-9-1 — 83-9-NEW-005) › ACCIDENT AND HEALTH INSURANCE (§§ 83-9-1 — 83-9-36.2) › Section 83-9-4 - Commissioner may disapprove policy form, amendatory rider or endorsement currently in effect under certain circumstances; procedure; applicability

(1)
The Commissioner of Insurance may disapprove a policy form, amendatory rider or endorsement currently in effect if the commissioner finds that a portion or all of the policy form, amendatory rider or endorsement:
(a)
Is in any respect in violation of any state or federal laws; or
(b)
Contains or incorporates by reference any inconsistent, ambiguous or misleading clauses or exceptions and conditions.
(2)
If the commissioner disapproves a policy form, amendatory rider or endorsement currently in effect, the commissioner shall issue an order only after a hearing held on not less than thirty (30) days written notice to the filing insurer. The insurer may waive the hearing. The commissioner shall issue an order within thirty (30) days after the close of the hearing or within thirty (30) days after the filing of a waiver of hearing and shall specify in what respects the policy form, amendatory rider or endorsement fails to meet the requirements of this section. The commissioner may extend the thirty-day period for issuance of an order for an additional thirty (30) days.
(3)
This section may apply to any health insurance policy or employee health benefit plan which is delivered, renewed, issued for delivery, or otherwise contracted for in this state, but shall not apply to any policy of disability income insurance or long-term care insurance.
(4)
The commissioner may promulgate rules and regulations necessary to carry out the provisions of this section.
Added by Laws, 2014, ch. 405, HB 548, 1, eff. 3/19/2014.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 9 - ACCIDENT, HEALTH AND MEDICARE SUPPLEMENT INSURANCE (§§ 83-9-1 — 83-9-NEW-005) › ACCIDENT AND HEALTH INSURANCE (§§ 83-9-1 — 83-9-36.2) › Section 83-9-6.1 - Pharmacy cash discount cards; cannot be issued unless issuer pays portion of discount given by pharmacy

(1)
As used in this section:
(a)
"Cash discount card" means a card, other than the program identification card of a member or participant of a prescription drug program, that allows the holder to obtain a discount on a prescription drug when paying for the prescription at the point-of-sale.
(b)
"Prescription drug program" means a program or plan that provides coverages and benefits for prescription drugs for members or participants in the program, whether the program is a separate program or part of a health benefit plan.
(2)
Any entity that administers a prescription drug program through a network of participating pharmacies for the benefit of any resident of the State of Mississippi shall not issue or distribute any cash discount card that the participating pharmacies must accept or honor as a condition or requirement of participation in the prescription drug program, or that the participating pharmacies must accept or honor if they accept or honor program identification cards held by members or participants of any prescription drug program administered by the entity, unless the entity pays a portion of the cost of the discount given by the pharmacy for prescriptions purchased with the use of the cash discount card.
(3)
Any person or entity that is not subject to subsection (2) of this section shall not issue or distribute any cash discount card to any resident of the State of Mississippi unless the person or entity pays a portion of the cost of the discount given by the pharmacy for prescriptions purchased with the use of the cash discount card.
(4)
Any provision in any prescription drug program or health benefit plan that is executed, delivered, renewed or otherwise contracted for in this state that is not in compliance with this section shall be void to the extent of the noncompliance.
(5)
The provisions of this section shall not apply to the issuers of Medicare Supplement Insurance policies.
(6)
The Office of Attorney General, Consumer Protection Division, shall enforce the provisions of this section.
Laws, 1999, ch. 545, § 1, eff. 7/1/1999.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 9 - ACCIDENT, HEALTH AND MEDICARE SUPPLEMENT INSURANCE (§§ 83-9-1 — 83-9-NEW-005) › ACCIDENT AND HEALTH INSURANCE (§§ 83-9-1 — 83-9-36.2) › Section 83-9-6.4 - Individual and group health insurance policies to permit partial supply of prescription medication for purpose of synchronizing patient's medication under certain circumstances

(1)
An individual or group health insurance policy providing prescription drug coverage in the state shall permit and apply a prorated daily cost-sharing rate to prescriptions that are dispensed by a network pharmacy for a partial supply if the prescriber or pharmacist determines the fill or refill to be in the best interest of the patient and the patient requests or agrees to a partial supply for the purpose of synchronizing the patient's medications.
(2)
No individual or group health insurance policy providing prescription drug coverage shall deny coverage for the dispensing of a medication that is dispensed by a network pharmacy on the basis that the dispensing is for a partial supply if the prescriber or pharmacist determines the fill or refill to be in the best interest of the patient and the patient requests or agrees to a partial supply for the purpose of synchronizing the patient's medications.
(3)
No individual or group health insurance policy providing prescription drug coverage shall use payment structures incorporating prorated dispensing fees. Dispensing fees for partially filled or refilled prescriptions shall be paid in full for each prescription dispensed, regardless of any prorated daily cost-sharing rate for the beneficiary or fee paid for alignment services.
(4)
The provisions of this section shall be fully applicable to any managed health care delivery entities including the State and School Employees Health Insurance Plan and the Mississippi Medicaid Program.
Added by Laws, 2018, ch. 308, SB 2296,§ 1, eff. 1/1/2019.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 9 - ACCIDENT, HEALTH AND MEDICARE SUPPLEMENT INSURANCE (§§ 83-9-1 — 83-9-NEW-005) › ACCIDENT AND HEALTH INSURANCE (§§ 83-9-1 — 83-9-36.2) › Section 83-9-7 - Benefits to patients in tax-supported institutions

No policy of sickness and accident insurance delivered or issued for deliverance after August 6, 1968, to any person in this state, including both individual policies and group policies, which provide coverage for tuberculosis or mental illness or any other illness, shall exclude hospitalization benefits for such patients hospitalized in tax-supported institutions of the State of Mississippi or any county or municipality thereof, whether such institution be deemed charitable or otherwise. However, only that portion or percent of the benefits shall be payable that have been assigned to said eleemosynary institution as payment in whole or in part for services rendered by such institution.
Codes, 1942, § 5687-03.5; Laws, 1968, ch. 476, § 1, eff. 8/6/1968.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 9 - ACCIDENT, HEALTH AND MEDICARE SUPPLEMENT INSURANCE (§§ 83-9-1 — 83-9-NEW-005) › ACCIDENT AND HEALTH INSURANCE (§§ 83-9-1 — 83-9-36.2) › Section 83-9-8 - Coverage of drugs not approved by Federal Food and Drug Administration; drugs used in treatment of cancer

(1)
No insurance policy which provides coverage for drugs shall exclude coverage of any such drug used for the treatment of cancer on the grounds that the drug has not been approved by the Federal Food and Drug Administration for the treatment of the specific type of cancer for which the drug has been prescribed, provided that such drug is recognized for treatment of that specific type of cancer in one of the standard reference compendia or in the medical literature.
(2)
This section may not be construed to:
(a)
Alter existing law with regard to provisions limiting the coverage of drugs that have not been approved by the Federal Food and Drug Administration;
(b)
Require coverage for any drug when the Federal Food and Drug Administration has determined its use to be contraindicated;
(c)
Require coverage for experimental drugs not otherwise approved for any indication by the Federal Food and Drug Administration;
(d)
Create, impair, alter, limit, modify, enlarge, abrogate or prohibit reimbursement for drugs used in the treatment of any other disease or condition.
(3)
For purposes of this section:
(a)
"Insurance policy" means an individual, group or blanket policy written by a medical expense indemnity corporation, a hospital service corporation, a health care service plan contract, or a private insurance plan issued, amended, delivered or renewed in this state or which provides insurance for residents of this state. This term shall include all health insurance plans for the state and its political subdivisions.
(b)
"Standard reference compendia" means:
(i)
The United States Pharmacopoeia Drug Information;
(ii)
The American Hospital Formulary Service Drug Information.
(c)
"Medical literature" means two (2) articles from major peer-reviewed professional medical journals that have recognized, based on scientific or medical criteria, the drug's safety and effectiveness for treatment of the indication for which it has been prescribed unless two (2) articles from major peer-reviewed professional medical journals have concluded, based on scientific or medical criteria, that the drug is unsafe or ineffective or that the drug safety and effectiveness cannot be determined for the treatment of the indication for which it has been prescribed. Peer-reviewed medical literature shall not include publications or supplements that are sponsored to a significant extent by a pharmaceutical manufacturing company or health carrier.
Laws, 1997, ch. 445, § 1, eff. 7/1/1997.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 9 - ACCIDENT, HEALTH AND MEDICARE SUPPLEMENT INSURANCE (§§ 83-9-1 — 83-9-NEW-005) › ACCIDENT AND HEALTH INSURANCE (§§ 83-9-1 — 83-9-36.2) › Section 83-9-9 - Conforming to statute

(1)
Other policy provisions.
No policy provision which is not subject to Section
83-9-5
shall make a policy, or any portion thereof, less favorable in any respect to the insured or the beneficiary than the provisions thereof which are subject to Sections
83-9-1
through
83-9-21
.
(2)
Policy conflicting with this statute.
A policy delivered or issued for delivery to any person in this state in violation of Sections
83-9-1
through
83-9-21
shall be held valid but shall be construed as provided in said sections. When any provision in a policy subject to the cited sections is in conflict with any provision of said sections, the rights, duties, and obligations of the insurer, the insured, and the beneficiary shall be governed by the provisions of such sections.
Codes, 1942, § 5687-04; Laws, 1956, ch. 330, § 4, eff. 7/1/1956.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 9 - ACCIDENT, HEALTH AND MEDICARE SUPPLEMENT INSURANCE (§§ 83-9-1 — 83-9-NEW-005) › ACCIDENT AND HEALTH INSURANCE (§§ 83-9-1 — 83-9-36.2) › Section 83-9-10 - Alternative delivery systems and group health insurance policies, plans, or programs required to provide covered medical treatment benefits provided by county health departments in same manner as other providers; denial of State Department of Health right to participate as contract provider prohibited; negotiation of fees for medical treatment by county health departments by alternative delivery systems and group health insurance policies permitted

(1)
For purposes of this section, the terms "alternative delivery systems" and "covered benefits" shall have the same definitions as provided in Section
83-9-37
.
(2)
All alternative delivery systems and all group health insurance policies, plans or programs regulated by the State of Mississippi shall provide covered benefits for medical treatment provided by the county health departments of the State Department of Health in the same manner as other providers.
(3)
Alternative delivery systems and group health insurance policies, plans or programs regulated by the State of Mississippi shall not deny the State Department of Health the right to participate as a contract provider.
(4)
Nothing in this section shall prohibit alternative delivery systems and group health insurance policies, plans or programs regulated by the State of Mississippi from being able to negotiate an appropriate fee schedule for medical treatment provided by the county health departments of the State Department of Health.
Added by Laws, 2023, ch. 446, SB 2575,§ 1, eff. 7/1/2023.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 9 - ACCIDENT, HEALTH AND MEDICARE SUPPLEMENT INSURANCE (§§ 83-9-1 — 83-9-NEW-005) › ACCIDENT AND HEALTH INSURANCE (§§ 83-9-1 — 83-9-36.2) › Section 83-9-11 - Application

(1)
The insured shall not be bound by any statement made in an application for a policy unless a copy of such application is attached to or endorsed on the policy when issued as a part thereof. If any such policy delivered or issued for delivery to any person in this state shall be reinstated or renewed, and the insured or the beneficiary or assignee of such policy shall make written request to the insurer for a copy of the application, if any, for such reinstatement or renewal, the insurer shall, within fifteen (15) days after the receipt of such request at its home office or any branch office of the insurer, deliver or mail to the person making such request a copy of such application. If such copy shall not be so delivered or mailed, the insurer shall be precluded from introducing such application as evidence in any action or proceeding based upon or involving such policy or its reinstatement or renewal.
(2)
No alteration of any written application for any such policy shall be made by any person other than the applicant without his written consent, except that insertions may be made by the insurer, for administrative purposes only, in such manner as to indicate clearly that such insertions are not to be ascribed to the applicant.
(3)
The falsity of any statement in the application for any policy covered by Sections
83-9-1
through
83-9-21
may not bar the right to recovery thereunder unless such false statement materially affected either the acceptance of the risk or the hazard assumed by the insurer.
Codes, 1942, § 5687-05; Laws, 1956, ch. 330, § 5, eff. 7/1/1956.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 9 - ACCIDENT, HEALTH AND MEDICARE SUPPLEMENT INSURANCE (§§ 83-9-1 — 83-9-NEW-005) › ACCIDENT AND HEALTH INSURANCE (§§ 83-9-1 — 83-9-36.2) › Section 83-9-13 - Waiver; proof-of-loss form; revision of form

(1)
The acknowledgment by any insurer of the receipt of notice given under any policy covered by Sections
83-9-1
through
83-9-21
, or the furnishing of forms for filing proofs of loss, or the acceptance of such proofs, or the investigation of any claim thereunder, shall not operate as a waiver of any of the rights of the insurer in defense of any claim arising under such policy.
(2)
The Commissioner of Insurance shall prescribe the use of the National Uniform Bill-82 (UB-82) and the Health Care Financing Administration (HCFA) Form 1500 as the uniform proof of loss forms. After July 1, 1985, no insurance company writing policies of accident and sickness insurance may require proof of loss to be on any claim form but the UB-82 or HCFA Form 1500, whichever is appropriate for services rendered.
(3)
The Commissioner of Insurance shall review the uniform proof of loss forms prescribed under subsection (2), seek comments and suggestions from insurers and consumer groups about proposed improvements to the forms, and determine whether any revisions should be made to either form that would simplify or otherwise improve the form. If the commissioner determines that either form should be revised, he shall make the revisions to the form and prescribe the use of the revised form by all insurance companies writing policies of accident and sickness insurance in Mississippi. After six (6) months from the date that the commissioner has prescribed the use of any revised form, no insurance company writing policies of accident and sickness insurance may require proof of loss to be on any claim form but the revised form when that is the appropriate form for services rendered.
Codes;, 1942, § 5687-06; Laws, 1956, ch. 330, § 6; Laws, 1971, ch. 419, § 1; Laws, 1974, ch. 397; Laws, 1985, ch. 370; Laws, 1993, ch. 336, § 1, eff. 7/1/1993.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 9 - ACCIDENT, HEALTH AND MEDICARE SUPPLEMENT INSURANCE (§§ 83-9-1 — 83-9-NEW-005) › ACCIDENT AND HEALTH INSURANCE (§§ 83-9-1 — 83-9-36.2) › Section 83-9-15 - Age limit

If any such policy contains a provision establishing, as an age limit or otherwise, a date after which the coverage provided by the policy will not be effective, and if such date falls within a period for which premium is accepted by the insurer or if the insurer accepts a premium after such date, the coverage provided by the policy will continue in force, subject to any right of cancellation, until the end of the period for which premium has been accepted. In the event the age of the insured has been misstated and if, according to the correct age of the insured, the coverage provided by the policy would not have become effective, or would have ceased prior to the acceptance of such premium or premiums, then the liability of the insurer shall be limited to the refund, upon request, of all premiums paid for the period not covered by the policy.
Codes, 1942, § 5687-07; Laws, 1956, ch. 330, § 7, eff. 7/1/1956.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 9 - ACCIDENT, HEALTH AND MEDICARE SUPPLEMENT INSURANCE (§§ 83-9-1 — 83-9-NEW-005) › ACCIDENT AND HEALTH INSURANCE (§§ 83-9-1 — 83-9-36.2) › Section 83-9-17 - Non-application to certain policies

Nothing in Sections
83-9-1
through
83-9-21
shall apply to or affect (a) any policy of workmen's compensation insurance or any policy of liability insurance with or without supplementary coverage therein; or (b) any policy or contract of reinsurance; or (c) life insurance, endowment or annuity contracts, or contracts supplemental thereto, which contain only such provisions relating to accident and sickness insurance as (a) provide additional benefits in case of death or dismemberment or loss of sight by accident, or as (b) operate to safeguard such contracts against lapse, or to give a special surrender value or special benefit or an annuity in the event that the insured or annuitant shall become totally and permanently disabled, as defined by the contract or supplemental contract.
Codes, 1942, § 5687-08; Laws, 1956, ch. 330, § 8, eff. 7/1/1956; Laws, 1996, ch. 320, § 1, eff. 7/1/1996.
Mississippi Code 1972 (2023) › Title 83 - INSURANCE (§§ 83-1-1 — 83-NEW-004) › Chapter 9 - ACCIDENT, HEALTH AND MEDICARE SUPPLEMENT INSURANCE (§§ 83-9-1 — 83-9-NEW-005) › ACCIDENT AND HEALTH INSURANCE (§§ 83-9-1 — 83-9-36.2) › Section 83-9-19 - Penalty

Any person, partnership, or corporation wilfully violating any provision of Sections
83-9-1
through
83-9-21
, or order of the commissioner made in accordance with said sections, shall forfeit to the people of the state a sum not less than Fifty Dollars ($50.00) nor more than One Thousand Dollars ($1,000.00) for each such violation, which may be recovered by a civil action. The commissioner may also suspend or revoke the license of an insurer or agent for any such wilful violation.
Codes, 1942, § 5687-09; Laws, 1956, ch. 330, § 9, eff. 7/1/1956.