South Dakota § 58-17-26 Payment of claims--Persons to whom benefits payable--Provision required in policy.

South Dakota Statutes

§ 58-17-26 — Payment of claims--Persons to whom benefits payable--Provision required in policy.

South Dakota·Title 58 INSURANCE·Ch. 58-13 HEALTH INSURANCE POLICIES

There shall be a provision as follows: "Payment of claims: Indemnity for loss of life will be payable in accordance with the beneficiary designation and the provisions respecting such payment which may be prescribed herein and effective at the time of payment. If no such designation or provision is then effective, such indemnity shall be payable to the estate of the insured. Any other accrued indemnities unpaid at the insured's death may, at the option of the insurer, be paid either to such beneficiary or to such estate. All other indemnities will be payable to the insured."

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There shall be a provision as follows: "Payment of claims: Indemnity for loss of life will be payable in accordance with the beneficiary designation and the provisions respecting such payment which may be prescribed herein and effective at the time of payment. If no such designation or provision is then effective, such indemnity shall be payable to the estate of the insured. Any other accrued indemnities unpaid at the insured's death may, at the option of the insurer, be paid either to such beneficiary or to such estate. All other indemnities will be payable to the insured."

South Dakota § 58-17-26 (Payment of claims--Persons to whom benefits payable--Provision required in policy.) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.