§ 633B.210 — Insurance and annuities

Iowa § 633B.210

• Jurisdiction: Iowa
• Title XV: JUDICIAL BRANCH AND JUDICIAL PROCEDURES
• Ch. 633B: POWERS OF ATTORNEY

Text

Unless the power of attorney otherwise provides and subject to section 633B.201, language
in a power of attorney granting general authority with respect to insurance and annuities
authorizes the agent to do all of the following:
1. Continue, pay the premium or make a contribution on, or modify, exchange, rescind,
release, or terminate a contract procured by or on behalf of the principal which insures or
provides an annuity to either the principal or another person whether or not the principal is
a beneficiary under the contract.
2. Procure new, different, and additional contracts of insurance and annuities for the
principal and the principal’s spouse, children, and other dependents, and select the amount,
type of insurance or annuity, and mode of payment.
3. Pay the premium or make a contribution on, modify, exchange, rescind, release, or
terminate a contract of insurance or annuity procured by the agent.
4. Apply for and receive a loan secured by a contract of insurance or annuity.
5. Surrender and receive the cash surrender value on a contract of insurance or annuity.
6. Exercise an election.
7. Exercise investment powers available under a contract of insurance or annuity.
8. Change the manner of paying premiums on a contract of insurance or annuity.
9. Change or convert the type of insurance or annuity with respect to which the principal
has or claims to have authority described in this section.
10. Apply for and procure a benefit or assistance under a statute, rule, or regulation to
guarantee or pay premiums of a contract of insurance on the life of the principal.
11. Collect, sell, assign, hypothecate, borrow against, or pledge the interest of the
principal in a contract of insurance or annuity.
12. Select the form and timing of the payment of proceeds from a contract of insurance
or annuity.
13. Pay, from proceeds or otherwise, compromise or contest, and apply for refunds in
connection with a tax or assessment levied by a taxing authority with respect to a contract of
insurance or annuity or its proceeds or liability accruing by reason of the tax or assessment.