South Dakota § 58-16-36 Grace period required.

South Dakota Statutes

§ 58-16-36 — Grace period required.

South Dakota § 58-16-36

Title 58INSURANCE

Ch. 58-13GROUP LIFE INSURANCE POLICIES

This text of South Dakota § 58-16-36 (Grace period required.) is published on Counsel Stack Legal Research, covering South Dakota primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

S.D. Codified Laws § 58-16-36 (2026).

Text

A policy of group life insurance shall contain a provision that the policyholder is entitled to a grace period of thirty - one days for the payment of any premium due except the first, during which grace period the death benefit coverage shall continue in force, unless the policyholder shall have given the insurer written notice of discontinuance in advance of the date of discontinuance and in accordance with the terms of the policy. The policy may provide that the policyholder shall be liable to the insurer for the payment of a pro rata premium for the time the policy was in force during such grace period.

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A policy of group life insurance shall contain a provision that the policyholder is entitled to a grace period of thirty - one days for the payment of any premium due except the first, during which grace period the death benefit coverage shall continue in force, unless the policyholder shall have given the insurer written notice of discontinuance in advance of the date of discontinuance and in accordance with the terms of the policy. The policy may provide that the policyholder shall be liable to the insurer for the payment of a pro rata premium for the time the policy was in force during such grace period.