reglab/statecodes huggingface dataset:
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.434 - Carrier liable for claims incurred during grace period, when — exceptions.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 28 Aug 1985
376.434. Carrier liable for claims incurred during grace period, when — exceptions. —
1. If a policy or contract subject to sections 376.431 to 376.442 provides for automatic discontinuance of the policy or contract after a premium or subscription charge has remained unpaid through the grace period allowed for such payment, the carrier shall be liable for valid claims for covered losses incurred prior to the end of the grace period. However, in no case shall a carrier be held liable for claims incurred during a grace period unless:
(1) Appropriate dues or premiums are received by the carrier during such grace period; or
(2) Such liability is specifically stated in the contract.
2. If the actions of the carrier after the end of the grace period indicate that it considers the policy or contract as continuing in force beyond the end of the grace period, such as by continuing to recognize claims subsequently incurred, the carrier shall be liable for valid claims for losses beginning prior to the effective date of written notice of discontinuance to the policyholder or other entity responsible for making payments or submitting subscription charges to the carrier. The effective date of discontinuance shall not be prior to midnight at the end of the third scheduled work day after the date upon which the notice is delivered.
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(L. 1985 H.B. 623)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.435 - Claim information to be reported, when — covered lives defined.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 28 Aug 2007
376.435. Claim information to be reported, when — covered lives defined. —
1. Beginning January 1, 2008, a health carrier providing a group health benefit plan or plans, as such terms are defined in section 376.1350, to an employer who meets the requirements specified in subsection 2 of this section shall, upon request by the employer or the employer's producer of record, provide a report of the total dollar amount and total number of claims paid under the plan or plans for each of the prior three years or for each year coverage was in place if less than three years at the time of the request. In the case of an employer with multiple plans, the total dollar amounts shall be aggregated into one report. The report shall be provided within thirty days of the request; however, a health carrier shall not be required to provide such report for the employer or the employer's producer of record more than twice in any calendar year. The information provided to the employer or the employer's producer of record shall be furnished in a manner that does not individually identify any employee or other person covered by the health benefit plan and shall comply with all applicable federal and state privacy laws regarding the disclosure of health records.
2. For purposes of subsection 1 of this section, an
"employer"
is one who:
(1) Provides an employee health benefit plan with at least fifty-one covered lives either at the time of the request or at the start of the reporting period; and
(2) Has been insured continuously with the health carrier or a carrier affiliated with the health carrier for at least the preceding twenty-two months.
3. As used in this section, the term
"covered lives"
means employees, their spouses, and dependents insured under the health benefit plan for which a report is requested.
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(L. 2007 H.B. 791)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.436 - Discontinuance notice by carrier, contents — notice forms furnished by carrier for distribution to policyholders.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 28 Aug 1999
376.436. Discontinuance notice by carrier, contents — notice forms furnished by carrier for distribution to policyholders. —
1. Any notice of discontinuance so given by the carrier shall include a request to the group policyholder or other entity involved to notify employees covered under the policy or contract of the date as of which the group policy or contract will discontinue and to advise that unless otherwise provided in the policy or contract, the carrier shall not be liable for claims for losses incurred after such date. Such notice of discontinuance shall also advise, in any instance in which the plan involves employee contributions, that if the policyholder or other entity continues to collect contributions for the coverage beyond the date of discontinuance, the policyholder or other entity may be held solely liable for the benefits with respect to which the contributions have been collected.
2. The carrier will prepare and furnish to the policyholder or other entity at the same time a supply of a notice form to be distributed to the employees or members concerned indicating such discontinuance and the effective date thereof, and urging the employees or members to refer to their certificates or contracts in order to determine what rights, if any, are available to them upon such discontinuance.
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(L. 1985 H.B. 623, A.L. 1999 H.B. 903)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.438 - Group policies, modifying or amending benefits shall provide extension of benefits in event of total disability at date of termination or discontinuance.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 28 Aug 1999
376.438. Group policies, modifying or amending benefits shall provide extension of benefits in event of total disability at date of termination or discontinuance. —
1. Every group policy or other contract subject to sections 376.431 to 376.442, or under which the level of benefits is hereafter altered, modified or amended, must provide a reasonable provision for extension of benefits in the event of total disability at the date of any termination or discontinuance of the group policy or contract, regardless of the reason for the termination or discontinuance, as required by the following subdivisions of this subsection:
(1) In the case of a group life plan which contains a disability benefit extension of any type, such as premium waiver extension, extended death benefit in event of total disability, or payment of income for a specified period during total disability, the discontinuance of the group policy shall not operate to terminate such extension;
(2) In the case of a group plan providing benefits for loss of time from work or specific indemnity during hospital confinement, discontinuance of the policy during a disability shall have no effect on benefits payable for that disability or confinement;
(3) In the case of health maintenance organization, hospital or medical expense coverages other than dental and maternity expense, a reasonable extension of benefits or accrued liability provision is required. Such a provision will be considered reasonable if it provides an extension of at least twelve months under health maintenance organization, major medical and comprehensive medical type coverages, and under other types of hospital or medical expense coverages provides either an extension of at least ninety days or an accrued liability for expenses incurred during a period of disability or during a period of at least ninety days starting with a specific event which occurred while coverage was in force.
2. Any applicable extension of benefits or accrued liability shall be described in any policy or contract involved as well as in insurance certificates of coverage issued to employees or members. The benefits payable during any period of extension or accrued liability may be subject to the policy's or contract's regular benefit limits.
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(L. 1985 H.B. 623, A.L. 1999 H.B. 903)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.442 - Rules and regulations, procedure.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 28 Aug 1993
376.442. Rules and regulations, procedure. —
The department of commerce and insurance is authorized to promulgate rules and regulations necessary to the administration or enforcement of the provisions of sections 376.431 to 376.442, pursuant to section 376.982 and chapter 536.
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(L. 1985 H.B. 623, A.L. 1993 S.B. 52)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.446 - Enrollee cost-sharing responsibilities, health carriers to provide timely information — exceptions.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 28 Aug 2011
376.446. Enrollee cost-sharing responsibilities, health carriers to provide timely information — exceptions. —
1. Health carriers shall permit individuals to learn the amount of cost-sharing, including deductibles, copayments, and coinsurance, under the individual's health benefit plan or coverage that the individual would be responsible for paying with respect to the furnishing of a specific item or service by a participating provider in a timely manner upon the request of the individual. At a minimum, such information shall be made available to such individual through an internet website and such other means for individuals without access to the internet. As used in this section, the terms "health carrier" and "health benefit plans" shall have the same meanings assigned to them in section 376.1350.
2. This section shall not apply to a supplemental insurance policy, including a life care contract, accident-only policy, specified disease policy, hospital policy providing a fixed daily benefit only, Medicare supplement policy, long-term care policy, hospitalization-surgical care policy, short-term major medical policy of six months or less duration, or any other supplemental policy.
3. The provisions of subsections 1 and 2 shall become effective on January 1, 2014.
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(L. 2011 S.B. 62 § 376.1190, subsecs. 1, 2, 4)
CROSS REFERENCE:
Nonseverability clause, 190.840
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.453 - Premium — only cafeteria plans required, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 01 Jan 2008, see footnote
376.453. Premium — only cafeteria plans required, when. —
1. An employer that provides health insurance coverage for which any portion of the premium is payable by the employer shall not provide such coverage unless the employer has established a premium-only cafeteria plan as permitted under federal law, 26 U.S.C. Section 125. The provisions of this subsection shall not apply to employers who offer health insurance through any self-insured or self-funded group health benefit plan of any type or description.
2. Nothing in this section shall prohibit or otherwise restrict an employer's ability to either provide a group health benefit plan or create a premium-only cafeteria plan with defined contributions and in which the employee purchases the policy.
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(L. 2007 H.B. 818)
Effective 1-01-08
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.480 - Domestic companies may assume risks of foreign companies — duties of director.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 28 Aug 1939
376.480. Domestic companies may assume risks of foreign companies — duties of director. —
Whenever any life insurance company incorporated under the laws of this state assumes the risks, in whole or in part, of any life insurance company incorporated under the laws of any other state or the Dominion of Canada or any province thereof a deposit of any part of its capital stock, surplus, legal reserve or other funds on the policies so assumed, the director of the department of commerce and insurance is hereby authorized, in his discretion, to receive from such official such deposit pertaining to the policies so assumed or the capital stock, surplus, legal reserve or other funds assigned by such foreign company to such domestic company, and during the time that any such official of any other state or the Dominion of Canada or any province thereof retains or holds possession and custody of such deposit after their assignment to such domestic company, such director may treat such deposits so held by the officials of such other state or the Dominion of Canada or any province thereof the same as if they had been received by and were in the custody of such director, and may, in his discretion, register the policies so assumed and may or may not, during such time, require such domestic company to make or maintain with such department of commerce and insurance any additional deposit on account thereof; provided, that when any of the capital stock, surplus, legal reserve or other funds of any such foreign company is legally invested in securities not authorized by the laws of this state, such securities shall be sold and disposed of within five years as the director may direct, and such domestic company shall not hold such securities or carry same as part of its capital stock, surplus, legal reserve or other funds for a longer period unless it shall procure a certificate from such director that its interests will suffer materially by the forced sale thereof.
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(RSMo 1939 § 6034)
Prior revision: 1929 § 5923
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.500 - Discriminations, rebates and favors prohibited — contracts to conform to policy.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 28 Aug 1965
376.500. Discriminations, rebates and favors prohibited — contracts to conform to policy. —
No life insurance company doing business in this state shall make or permit any distinction or discrimination in favor of individuals between insurants (the insured) of the same class and equal expectations of life in the amount or payment of premiums or rates charged for policies of life or endowment insurance, or in the dividends or other benefits payable thereon, or in any other of the terms and conditions of the contracts it makes; nor shall any such company, or agent thereof, make any contract of insurance or agreement as to such contract other than as plainly expressed in the policy issued thereon; nor shall any such company, or any officer, agent, solicitor or representative thereof, pay, allow or give, or offer to pay, allow or give, directly or indirectly, as inducement to insurance, any rebate of premium payable on the policy, or any special favor or advantage in the dividends or other benefits to accrue thereon, or any paid employment or contract for services of any kind, or any valuable consideration or inducement whatever, not specified in the policy contract of insurance; or give, sell or purchase, or offer to give, sell or purchase, as inducement to insurance or in connection therewith, any stocks, bonds or other securities of any insurance company or other corporation, association, or partnership, or any dividends or profits to accrue thereon, or anything of value whatsoever. The provisions of this section shall also apply to all companies incorporated under the provisions of sections 377.200 to 377.460.
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(RSMo 1939 § 5840, A.L. 1965 p. 95)
Prior revisions: 1929 § 5729; 1919 § 6139; 1909 § 6934
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.502 - Life insurers not to discriminate based on lawful travel destinations — violations, penalty.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 28 Aug 2009
376.502. Life insurers not to discriminate based on lawful travel destinations — violations, penalty. —
1. No life insurance company doing business within this state shall deny or refuse to accept an application for life insurance, refuse to renew, cancel, restrict, or otherwise terminate a policy of life insurance, or charge a different rate for the same life insurance coverage, based upon the applicant's or insured's past or future lawful travel destinations. Nothing in this section shall prohibit a life insurance company from denying an application for life insurance, or restricting or charging a different premium or rate for coverage under such a policy based on a specific travel destination where the denial, restriction, or rate differential is based upon sound actuarial principles or is related to actual or reasonably anticipated experience.
2. A violation of the provisions of this section shall be unfair trade practice as defined by sections 375.930 to 375.948 and shall be governed by and subject to all of the provisions and penalties provided by such sections.
3. The provisions of this section shall apply to any life insurance policy issued or renewed on or after August 28, 2009.
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(L. 2009 H.B. 577 merged with S.B. 126)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.510 - Penalty for violation of section 376.500.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 28 Aug 1939
376.510. Penalty for violation of section 376.500. —
Any life insurance company or association which may violate any of the provisions of section 376.500 or which may permit any of its agents or representatives in this state to violate said provisions, shall have its certificate of authority, or license to transact business in Missouri, revoked by the state director of the department of commerce and insurance, and shall be, for a period of five years, barred from the further transaction of business in this state; and any agent, solicitor or representative in this state of any such insurance company or association, who shall violate any of the provisions of section 376.500, shall be deemed guilty of a misdemeanor, and on conviction thereof, in any court of competent jurisdiction in this state, shall be fined not less than fifty nor more than five hundred dollars for each such offense, or imprisoned in the county or city jail, for not less than thirty days nor more than six months, or by both such fine and imprisonment.
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(RSMo 1939 § 5841)
Prior revisions: 1929 § 5730; 1919 § 6140; 1909 § 6935
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.540 - Policy, to whom payable.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 28 Aug 1983
376.540. Policy, to whom payable. —
In case of the death of the wife before the decease of the husband, the amount of the insurance shall be payable to her heirs, for their use, and to their conservator, if under age, unless otherwise provided for and stipulated in the policy.
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(RSMo 1939 § 5848, A.L. 1983 S.B. 44 & 45)
Prior revisions: 1929 § 5737; 1919 § 6147; 1909 § 6942
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.562 - Charitable, benevolent, educational and religious organizations may be beneficiary or owner of policy, life insurance, when — fraud or coercion, exception.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 28 Aug 1997
376.562. Charitable, benevolent, educational and religious organizations may be beneficiary or owner of policy, life insurance, when — fraud or coercion, exception. —
It shall be lawful for any charitable, benevolent, educational or religious institution qualified pursuant to section 501(c)(3) of the Internal Revenue Code, as amended, to solicit, procure and enforce, in the absence of any fraud or coercion, the payment of proceeds of:
(1) An assignment or designation as beneficiary, a gift or assignment of an interest in life insurance in the life of a donor or assignor; or
(2) An ownership of an interest in life insurance on the life of an insured if the charitable, benevolent, educational or religious institution has obtained the consent of the person whose life is being insured, as required by section 376.531.
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(L. 1992 H.B. 1574 § 376.560, A.L. 1997 H.B. 622)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.570 - Foreign executor or administrator.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 28 Aug 1939
376.570. Foreign executor or administrator. —
Whenever any nonresident of this state dies leaving a policy of life insurance issued by any life insurance company of this state and payable to his estate, it shall be lawful for the executor or administrator, duly appointed under the laws of the state of the residence of such deceased nonresident, to collect and receive the proceeds payable under the terms of such policy and the delivery or payment of such proceeds by any life insurance company of this state to such nonresident executor or administrator, at any time, shall operate as a full and complete release and discharge of any person or corporation so paying or delivering such proceeds to such foreign executor or administrator.
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(RSMo 1939 § 6024)
Prior revision: 1929 § 5913
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.580 - Misrepresentation.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 28 Aug 1939
376.580. Misrepresentation. —
No misrepresentation made in obtaining or securing a policy of insurance on the life or lives of any person or persons, citizens of this state, shall be deemed material, or render the policy void, unless the matter misrepresented shall have actually contributed to the contingency or event on which the policy is to become due and payable, and whether it so contributed in any case shall be a question for the jury.
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(RSMo 1939 § 5843)
Prior revisions: 1929 § 5732; 1919 § 6142; 1909 § 6937
(1955) Where accident and health policy contained no sound health provision, no provision making insured's answers in the application warranties, nor any provision conditioning the policy on the truth of such answers, material misrepresentations must have been knowingly and fraudulently made before they will avoid the policy. Dixon v. Business Men's Assurance Co., 365 Mo. 580, 285 S.W.2d 619.
(1959) This section held inapplicable to determine whether action on insurance policy where fraud and deceit in the procurement thereof was asserted as a defense was triable in equity or by jury in federal court. Curry v. Pyramid Life Insurance Co., 271 F.2d 1.
(1961) Evidence as to misrepresentation of the health of the insured examined and held sufficient to create an issue for the jury. Winger v. General American Life Ins. Co. (Mo.), 345 S.W.2d 170.
(1961) Evidence held sufficient to present jury question as to whether misrepresentation was as to illness causing death. Pyramid Life Ins. Co. v. Curry, 291 F.2d 411.
(1963) Requirement in policy that policy holder be in "good health" at time of payment of first premium would bar recovery when insured was suffering from cancer at time of such payment whether insured knew of such disease or not. Security Life Insurance Company v. Jackson, 318 F.2d 846.
(1966) This section applies whether the misrepresentations are fraudulent or innocent and makes these misrepresentations immaterial unless the matter misrepresented actually contributed to the happening of the event on which payment under the policy of insurance depends. Bohm v. Fidelity and Casualty Co. of New York (A.), 399 S.W.2d 450.
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.590 - Misrepresentations, false estimates and circulars prohibited — agents — notes to be held until policy delivered.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 28 Aug 1939
376.590. Misrepresentations, false estimates and circulars prohibited — agents — notes to be held until policy delivered. —
1. No life insurance company doing business in this state, and no officer, director, or agent thereof, shall issue or circulate, or cause or permit to be issued or circulated, any estimate, illustration, circular or statement of any sort misrepresenting the terms of any policy issued by it or the benefits or advantages promised thereby, or the dividends or shares of surplus to be received thereon, or shall use any name or title of any policy or class of policies misrepresenting the true nature thereof.
2. Any person who shall solicit an application for insurance upon the life of another shall, in any controversy between the assured or his beneficiary and the company issuing any policy upon such application, be regarded as the agent of the company and not the agent of the assured, nor shall any life insurance company or agent sell, discount or otherwise dispose of any note or notes taken for payment of life insurance premium or premiums, before delivering to the applicant, in person, the policy for which said note or notes shall have been given.
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(RSMo 1939 § 5844)
Prior revisions: 1929 § 5733; 1919 § 6143; 1909 § 6938
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.600 - Penalty for violating section 376.590.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 28 Aug 1939
376.600. Penalty for violating section 376.590. —
Any life insurance company which may violate any of the provisions of section 376.590, or which may permit any of its agents or representatives in this state to violate said provisions, shall have its certificate of authority or license to transact business in Missouri revoked by the state director of the department of commerce and insurance, and shall be for a period of five years barred from the further transaction of business in this state; and any agent, solicitor or representative in this state of any such insurance company who shall violate any of the provisions of said section shall be deemed guilty of a misdemeanor, and, on conviction thereof, in any court of competent jurisdiction in this state, shall be fined not less than fifty nor more than five hundred dollars for each such offense or imprisoned in the county or city jail for not less than ten days nor more than six months, or by both such fine and imprisonment.
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(RSMo 1939 § 5845)
Prior revisions: 1929 § 5734; 1919 § 6144; 1909 § 6939
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.610 - Defense in case of suits.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 28 Aug 1939
376.610. Defense in case of suits. —
In suits brought upon life policies, heretofore or hereafter issued, no defense based upon misrepresentation in obtaining or securing the same shall be valid, unless the defendant shall, at or before the trial, deposit in court for the benefit of the plaintiffs, the premiums received on such policies.
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(RSMo 1939 § 5846)
Prior revisions: 1929 § 5735; 1919 § 6145; 1909 § 6940
(1952) Where plaintiff in equitable action to cancel policy on ground of misrepresentation as to health of deceased, deposited check in excess of amount of premiums paid with circuit clerk, and objection to failure to make deposit in cash was first made in motion for new trial, such failure did not preclude assertion of misrepresentation in equitable action. Reliable Ins. Co. v. Bell (A.), 246 S.W.2d 371.
(1960) This section does not apply to stipulated premium plan policies. Randall v. Western Life Ins. Co. (A.), 336 S.W.2d 125.
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.620 - Suicide, effect on liability — refund of premiums, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 28 Aug 2017, 2 histories
376.620. Suicide, effect on liability — refund of premiums, when. —
1. Any life insurance policy, rider, endorsement, amendment, or certificate issued or delivered in this state may exclude or restrict liability under such policy, rider, endorsement, amendment, or certificate for death as the result of suicide in the event the insured, while sane or insane, dies as a result of suicide within one year from the date of the issue of such policy, rider, endorsement, amendment, or certificate. If an insured applies for additional death benefits or an increase in death benefits after initial coverage commences, the policy, rider, endorsement, amendment, or certificate may provide for an exclusion for suicide that occurs within one year after any addition or increase in death benefits only to the extent of the additional or increased death benefits. Any such exclusion or restriction shall be clearly stated in such policy, rider, endorsement, amendment, or certificate.
2. Any life insurance policy, rider, endorsement, amendment, or certificate which contains any exclusion or restriction under subsection 1 of this section shall also provide that in the event the insured dies as a result of suicide within one year from the date of issue of such policy, rider, endorsement, amendment, or certificate that the insurer shall promptly refund all premiums paid for the excluded or restricted coverage on such insured.
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(RSMo 1939 § 5851, A.L. 2007 S.B. 66, A.L. 2017 H.B. 336)
Prior revisions: 1929 § 5740; 1919 § 6150; 1909 § 6945
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.630 - Life insurance policies not to be forfeited or become invalid, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 28 Aug 1943
376.630. Life insurance policies not to be forfeited or become invalid, when. —
No policies of insurance on life issued prior to the operative date of section 376.670 by any life insurance company authorized to do business in this state shall, after payment upon it of three or more annual payments, be forfeited or become void by reason of nonpayment of premiums thereon, but it shall be subject to the following rules of commutation, to wit: The net value of the policy, when the premium becomes due and is not paid, shall be computed upon the actuaries' or combined experience table of mortality with four percent interest per annum, and after deducting from three-fourths of such net value the unpaid portion of any notes given on account of past premium payments on said policy and any other indebtedness to the company secured by said policy, which notes and indebtedness shall then be cancelled, the balance shall be taken as a net single premium for temporary insurance (extended insurance). The amount of such temporary insurance shall be such as is specified in the policy, but never less than the face amount insured by the policy reduced by the unpaid portion of notes and indebtedness aforesaid; and the term for which said temporary insurance shall be in force shall be determined by the attained age of the person whose life is insured at the time of default of premium, the assumption of mortality and interest aforesaid, the amount of temporary insurance granted and the net single premium available for temporary insurance previously defined; provided, that if the original policy shall be an endowment, payable at a certain time or at death, if it should occur previously, then if the net single premium available for temporary insurance as aforesaid shall exceed the net single premium for temporary insurance granted for the remainder of the endowment term, such excess shall be considered as a net single premium for pure endowment of as much as said excess of premiums will purchase, determined by the attained age of the insured at date of default in the payment of premiums on the original policy, and the table of mortality and interest aforesaid, which amount of pure endowment shall be paid at the end of the original term of endowment if the insured shall then be alive.
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(RSMo 1939 § 5852, A.L. 1943 p. 596)
Prior revisions: 1929 § 5741; 1919 § 6151; 1909 § 6946
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.640 - Paid-up policy may be demanded, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 28 Aug 1943
376.640. Paid-up policy may be demanded, when. —
At any time after the payment of three or more full annual premiums, and not later than sixty days from the beginning of the extended insurance provided in section 376.630, the legal holder of any policy affected by section 376.630 may demand of the company, and the company shall issue, its paid-up policy, which, in case of an ordinary life policy, shall be for such an amount as three-fourths of the net value of the regular policy at the age and date of lapse, computed according to actuaries' or combined experience table of mortality, with interest at the rate of four percent per annum, without deduction of indebtedness on account of said policy, will purchase, applied as a net single premium upon the said table of mortality and interest rate aforesaid; and in case of a limited payment life policy, or of a continued payment endowment policy, payable at a certain time, or at death, it shall be for an amount bearing such proportion to the amount of the original policy as the number of complete annual premiums actually paid shall bear to the number of such annual premiums stipulated to be paid; provided, that from such amount the company shall have a right to deduct the net reversionary value of all indebtedness to the company on account of such policy; and provided further, that the policyholder shall, at the time of making demand for such paid-up policy, surrender the original policy, legally discharged, at the parent office of the company.
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(RSMo 1939 § 5853, A.L. 1943 p. 596)
Prior revisions: 1929 § 5742; 1919 § 6152; 1909 § 6947
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.650 - Rules of payment on commuted policy.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 28 Aug 1943
376.650. Rules of payment on commuted policy. —
If the death of the insured occur within the term of temporary insurance covered by the value of the policy as determined in section 376.630, and if no condition of the insurance other than the payment of premiums shall have been violated by the insured, the company shall be bound to pay the amount of the policy, the same as if there had been no default in the payment of premium, anything in the policy to the contrary notwithstanding; provided, however, that notice of the claim and proof of the death shall be submitted to the company in the same manner as provided by the terms of the policy within ninety days after the decease of the insured; and provided also, that the company shall have the right to deduct from the amount insured in the policy the amount compounded at six percent interest per annum of all the premiums that had been forborne at the time of the decease, including the whole of the year's premium in which the death occurs, but such premiums shall in no case exceed the ordinary life premium for the age at issue, with interest as last aforesaid.
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(RSMo 1939 § 5854, A.L. 1943 p. 596)
Prior revisions: 1929 § 5743; 1919 § 6153; 1909 § 6948
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.660 - Foregoing provisions inapplicable, when.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 28 Aug 1943
376.660. Foregoing provisions inapplicable, when. —
Sections 376.630 to 376.650 shall not be applicable in the following cases, to wit: If the policy shall contain a provision for an unconditional surrender value, at least equal to the net single premium, for the temporary insurance provided for herein, or for the unconditional commutation of the policy for nonforfeitable paid-up insurance, or if the legal holder of the policy shall, within sixty days after default of premium, surrender the policy and accept from the company another form of policy, or if the policy shall be surrendered to the company for a consideration adequate in the judgment of the legal holder thereof, then, and in any of the foregoing cases, sections 376.010 to 376.670 shall not be applicable; provided, that in no instance shall a policy be forfeited for nonpayment of premiums after the payment of three annual payments thereon; but in all instances where three annual premiums shall have been paid on a policy of insurance, the holder of such policy shall be entitled to paid-up or extended insurance, the net value of which shall be equal to that provided for in sections 376.010 to 376.670; provided further, that this section and sections 376.630 to 376.650 shall apply only to policies of life insurance issued prior to the operative date of section 376.670.
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(RSMo 1939 § 5855, A.L. 1943 p. 596)
Prior revisions: 1929 § 5744; 1919 § 6154; 1909 § 6949
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.673 - Life insurance policies, regulations relative to.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
Effective - 28 Aug 1967
376.673. Life insurance policies, regulations relative to. —
1. No life insurance policy shall be issued or delivered in this state after October 13, 1967, which:
(1) By its terms expressly provides that the policyholder will participate in the distribution of earnings or surplus other than earnings or surplus attributable, by reasonable and nondiscriminatory standards, to the participating policies of the company and allocated to the policyholder on reasonable and nondiscriminatory standards; or
(2) Through sales material or oral presentations, is represented by the company or its agent to prospective policyholders as entitling the policyholder to the benefits described in subdivision (1) of this subsection; or
(3) By its terms expressly provides that the policyholder will receive some preferential or discriminatory advantage or benefit not available to persons who purchase insurance from the company at future dates or under other circumstances; or
(4) Through sales material or oral presentations is represented by the company or its agent to prospective policyholders as entitling the policyholder to the benefits described in subdivision (3) of this subsection.
2. Life insurance policies providing for the payment of a series of pure endowments maturing periodically during the premium paying period of the policy which are issued or delivered in this state after October 13, 1967, shall be subject to the following provisions:
(1) No detachable coupons or certificates or passbooks may be used. No other device may be used which tends to emphasize the periodic pure endowment benefits or which tends to create the impression that the pure endowments represent interest earnings or anything other than benefits which have been purchased by part of the policyholder's premium payments.
(2) Each pure endowment benefit must have a fixed maturity date and payment of the pure endowment benefit shall not be contingent upon the payment of any premium becoming due on or after the maturity date.
(3) The pure endowment benefits must be expressed in dollar amounts rather than as percentages of other quantities or in other ways, both in the policy itself and in the sale thereof.
(4) The pure endowment premiums shall be calculated with mortality, interest, and expense factors which are consistent with those for the basic policy premium and it shall be noted in bold type on the face of the policy that "a portion of the premium is used to pay the annual endowment".
(5) No insurance company, insurance agent, solicitor, nor insurance company representative, shall, as a competitive or twisting device, inform any policyholder or prospective policyholder that any insurance company was required to change a policy form or related material to comply with the provisions of this law.
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(L. 1967 p. 516)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.674 - Life insurance policies, no cash surrender value, regulations relative to.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
Effective - 28 Aug 1987
376.674. Life insurance policies, no cash surrender value, regulations relative to. —
1. Notwithstanding any provision of section 376.670 to the contrary, after September 28, 1987, a company may issue policies of life insurance which differ from its existing or currently filed policies only in that they do not provide for any cash surrender value prior to the death of the life insured. If a policy provides for any cash surrender value, endowment, or pure endowment prior to the death of the life insured, this exemption shall not apply. Any policy without cash surrender values, for which one or more cash surrender values would otherwise have been required, shall contain on its first page a concise, exact description set out in contrasting type at least four points larger than used in the body of that page a statement in a prominent place that such values are not provided and that no policy loans are available under the policy. The company shall provide to each prospective purchaser of such a policy a policy summary, the form of which shall be filed for approval pursuant to section 376.675 which includes the same description as the policy, similarly displayed, and which shows the premium said company charges for the same policy when cash surrender values are included. Such policy summary shall be delivered before any premium is accepted.
2. Except for the requirement of payment upon surrender, the nonforfeiture amounts for such policies shall be subject to all provisions of this chapter which apply to the cash surrender values of otherwise similar life insurance policies with cash surrender values.
3. The insurance laws of this state relating to policy loans shall not apply to policies which do not provide cash surrender values.
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(L. 1987 S.B. 337)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.675 - Life insurance policies and annuity contracts to be approved — exemption, when — director's powers — judicial review of disapproval.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
• Effective - 28 Aug 1984
376.675. Life insurance policies and annuity contracts to be approved — exemption, when — director's powers — judicial review of disapproval. —
1. No policy of life insurance or contract of annuity shall be delivered or issued for delivery to any person in this state unless the policy or contract shall have been filed with and approved by the director of the department of commerce and insurance.
2. The director of the department of commerce and insurance shall have authority to make reasonable rules and regulations concerning the procedure for the filing and submission of policy or contract forms as are necessary, proper or advisable. The director shall approve or disapprove a policy or contract form within forty-five days after the filing and submission thereof. The failure of the director of the department of commerce and insurance to take action approving or disapproving a submitted policy or contract form within the stipulated time shall be deemed an approval thereof until such time as the director of the department of commerce and insurance shall notify the submitting company of his disapproval thereof.
3. The director of the department of commerce and insurance shall approve only those forms which are in compliance with the insurance laws of this state and which contain such words, phraseology, conditions and provisions with are specific, certain and unambiguous and reasonably adequate to meet needed requirements for the protection of those insured. If any policy or contract form is disapproved, the reasons therefor shall be based upon the requirements of the laws of this state or of any regulation lawfully promulgated thereunder, and shall be stated in writing and a notification thereof shall be sent to the submitting company. The director shall accord a hearing upon a disapproval, if so requested. The disapproval of any policy or contract form by the director shall be subject to judicial review as provided in chapter 536.
4. The director of the department of commerce and insurance may, by order or bulletin, exempt from the approval requirements of this section for so long as he deems proper any insurance policy, document, or form or type thereof, as specified in such order or bulletin, to which, in his opinion, this section may not practicably be applied, or the approval of which is, in his opinion, not desirable or necessary for the protection of the public.
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(L. 1963 p. 497 §§ 1, 2, A.L. 1984 S.B. 592)
2023 Missouri Revised Statutes › Title XXIV - Business and Financial Institutions › Chapter 376 - Life, Health and Accident Insurance › Section 376.676 - Regulation of the valuation of life insurance policies — may adopt NAIC model regulation.

Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS
Chapter 376
Effective - 27 Jun 2000, see footnote
376.676. Regulation of the valuation of life insurance policies — may adopt NAIC model regulation. —
The department of commerce and insurance shall promulgate regulations governing the valuation of life insurance policies. The department of commerce and insurance may adopt the "Valuation of Life Insurance Policies Model Regulation" adopted by the National Association of Insurance Commissioners.
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(L. 2000 H.B. 1739)