Minnesota § 72A.207 GRADED DEATH BENEFITS

Minnesota Statutes

§ 72A.207 — GRADED DEATH BENEFITS

Minnesota § 72A.207

PartINSURANCE

Ch. 72AINSURANCE INDUSTRY TRADE PRACTICES

This text of Minnesota § 72A.207 (GRADED DEATH BENEFITS) is published on Counsel Stack Legal Research, covering Minnesota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Minn. Stat. § 72A.207 (2026).

Text

For the purpose of this section, a graded death benefit is a provision within a life insurance policy in which the death benefit, in the early years of the policy, is less than the face amount of the policy, but which increases with the passage of time.
No policy of life insurance paying a graded death benefit may be issued in this state unless the graded death benefit is equal to at least four times the first year premium. This section does not prohibit the return of premiums or premiums plus interest in connection with the voluntary or judicially ordered rescission of the policy, or according to the terms of the exclusions from coverage for suicide, aviation, or war risk.
A policy providing preneed insurance as defined in section61A.258, or designed to cover, in whole or in part, the goo

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For the purpose of this section, a graded death benefit is a provision within a life insurance policy in which the death benefit, in the early years of the policy, is less than the face amount of the policy, but which increases with the passage of time.
No policy of life insurance paying a graded death benefit may be issued in this state unless the graded death benefit is equal to at least four times the first year premium. This section does not prohibit the return of premiums or premiums plus interest in connection with the voluntary or judicially ordered rescission of the policy, or according to the terms of the exclusions from coverage for suicide, aviation, or war risk.
A policy providing preneed insurance as defined in section61A.258, or designed to cover, in whole or in part, the goods and services described in section61A.258, subdivision 1, clause (3), is not subject to this section.