South Dakota § 58-33A-9 Buyer's guide and policy summary to be provided to all prospective life insurance purchasers--Illustration in lieu of policy summary--Director authorized to promulgate rules.

South Dakota Statutes

§ 58-33A-9 — Buyer's guide and policy summary to be provided to all prospective life insurance purchasers--Illustration in lieu of policy summary--Director authorized to promulgate rules.

South Dakota § 58-33A-9

Title 58INSURANCE

Ch. 58-32STANDARDS FOR ADVERTISEMENT, SOLICITATION, AND SALE OF LIFE AND HEALTH INSURANCE

This text of South Dakota § 58-33A-9 (Buyer's guide and policy summary to be provided to all prospective life insurance purchasers--Illustration in lieu of policy summary--Director authorized to promulgate rules.) 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 § 58-33A-9 (2026).

Text

Prior to accepting the applicant's initial premium or premium deposit, the insurer shall provide, to all prospective life insurance purchasers, a buyer's guide, and a policy summary. However, in lieu of a policy summary, an insurer may provide an illustration which complies with applicable rules concerning life insurance illustrations. Insurers may deliver the buyer's guide and policy summary or illustration at other times as specified by the director by rule. The director may also promulgate rules pursuant to chapter 1-26 specifying the type of policy summary required, the form and content of policy summaries, the specific buyer's guide to be used, and if the buyer's guide must be provided.

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Prior to accepting the applicant's initial premium or premium deposit, the insurer shall provide, to all prospective life insurance purchasers, a buyer's guide, and a policy summary. However, in lieu of a policy summary, an insurer may provide an illustration which complies with applicable rules concerning life insurance illustrations. Insurers may deliver the buyer's guide and policy summary or illustration at other times as specified by the director by rule. The director may also promulgate rules pursuant to chapter 1-26 specifying the type of policy summary required, the form and content of policy summaries, the specific buyer's guide to be used, and if the buyer's guide must be provided.