State statute · Alaska

Alaska Statutes Title 21 (Insurance), Chapter 45

Life Insurance and Annuities (AS 21.45.010 - 21.45.310)

Publisher: Alaska State Legislature, BASIS
Edition: Alaska Statutes 2025
Last checked: 2026-09-02
Status: AK statutes, public domain

Edition and licensing notes

Publisher. Alaska State Legislature, BASIS (akleg.gov)

Edition. Alaska Statutes 2025 (34th Legislature, 2025-2026)

Status. AK statutes, public domain (state government edict).

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What this document is

Alaska Statutes Title 21 (Insurance), Chapter 45 - Life Insurance and Annuities (AS 21.45.010 - 21.45.310) is a state statute published by Alaska State Legislature, BASIS (akleg.gov). It is one of the Alaska documents that insurance license exam questions are written from, including alaska life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

AS tit. 21, ch. 45 § 21.45.030 (Grace period)
“There shall be a provision that a grace period of 30 days, or, at the option of the insurer, of one month of not less than 30 days, or of four weeks in the case of industrial life insurance policies the premiums for which are payable more frequently than monthly, is allowed within which the payment...”
AS tit. 21, ch. 45 § 21.45.160 (Excluded or restricted coverage)
“A clause in a policy of life insurance stating that the policy shall be incontestable after a specified period precludes only a contest of the validity of the policy and does not preclude the assertion at any time of defenses based upon provisions in the policy that exclude or restrict coverage,...”
AS tit. 21, ch. 45 § 21.45.060 (Misstatement of age)
“Except as provided in AS 21.45.210 , there shall be a provision that if the age of the insured or of another person whose age is considered in determining the premium or benefit has been misstated, any amount payable or benefit accruing under the policy shall be such as the premium would have...”
AS tit. 21, ch. 45 § 21.45.080(a) (Policy loan)
“The policy must reserve to the insurer the right to defer the granting of a loan, other than for the payment of a premium to the insurer, for six months after the date of the loan application.”
AS tit. 21, ch. 45 § 21.45.110 (Reinstatement)
“Except as provided in AS 21.45.230 , there shall be a provision that unless (1) the policy has been surrendered for its cash surrender value, (2) its cash surrender value has been exhausted, or (3) the paid-up term insurance, if any, has expired, the policy will be reinstated at any time within...”
AS 21.45.020(c) (Standards provisions required; return and refund)
“(c) A life insurance policy or annuity contract delivered or issued for delivery in this state and each life insurance policy or annuity contract application must contain a notice prominently printed on or attached to the first page stating (1) on written request, an insurer is required to provide,...”
AS 21.45.130 (Payment of claims)
“There shall be a provision that when a policy becomes a claim by the death of the insured, settlement shall be made upon receipt of due proof of death and, at the insurer’s option, surrender of the policy, proof of the interest of the claimant, or both. If an insurer specifies a particular period...”
AS 21.45.250(b) (Limitation of liability)
“(b) A policy that contains an exclusion or restriction under (a) of this section must also provide that in the event of death under the circumstances to which an exclusion or restriction is applicable, the insurer will pay an amount not less than a reserve determined according to the commissioner’s...”
AS 21.45.270(a) (Incontestability, limitation of liability after reinstatement)
“(a) A reinstated policy of life insurance or annuity contract may be contested on account of fraud or misrepresentation of facts material to the reinstatement only for the same period following reinstatement and with the same conditions and exceptions as the policy provides with respect to...”
AS 21.45.310(a) (Prohibited policy plans)
“(a) An insurer may not issue for delivery or deliver in this state a life insurance policy or annuity contract issued under any plan for the segregation of policyholders into mathematical groups and providing benefits for a surviving policyholder of a group arising out of the death of another...”

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Alaska Life & Health practice test

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Practice questions for Alaska Life & Health cite this document.

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