Life Insurance Policies and Annuity Contracts (La. R.S. 22:901-919, 22:931-936, 22:951-961): Louisiana Insurance Code

What this document is

Louisiana Insurance Code - Life Insurance Policies and Annuity Contracts (La. R.S. 22:901-919, 22:931-936, 22:951-961) is a state statute published by Louisiana State Legislature (legis.la.gov). It is one of the Louisiana documents that insurance license exam questions are written from, including louisiana 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.

• La. R.S. tit. 22 § 951(A)(4) (Annuities and Pure Endowment Contracts; Standard Provisions: Misstatement of Age or Sex)

  “(4) Misstatement of age or sex: A provision that if the age or sex of the person or persons upon whose life or lives the contract is made, or of any of them, has been misstated, the amount payable or benefit accruing under the contract, shall be such as the stipulated payments to the insurer would...”

• La. R.S. tit. 22 § 911.1(A) (Revocation upon Divorce; Beneficiary Designation in Life Insurance and Annuity Contracts)

  “A. In all policies of life or endowment insurance and in all annuity contracts, divorce revokes any revocable designation made by a divorced individual to the former spouse, provided that the divorce occurs after the beneficiary is designated, the parties remained divorced from each other at the...”

• La. R.S. tit. 22 § 931(A)(1) (Life Insurance Policies; Standard Provisions: Grace Period)

  “(1) Grace period. A provision that the insured is entitled to a grace period either of thirty days or, at the option of the insurer, of one month within which the payment of any premium after the first may be made, during which period of grace the policy shall continue in full force, but if a claim...”

• La. R.S. tit. 22 § 931(B)(4) (Life Insurance Policies; Standard Provisions: scope of an incontestability clause)

  “A clause in any policy of life insurance, issued under this Code, providing that such policy shall be incontestable after a specified period shall preclude only a contest of the validity of the policy, and shall not preclude the assertion at any time of defenses based upon provisions which exclude...”

• La. R.S. tit. 22 § 917 (Life insurance policy or annuity issued to fund a pre-need funeral contract)

  “A. A funeral establishment or any entity involved in the marketing, preparation, or funding of a pre-need funeral contract shall not be designated as the owner of a life insurance policy or annuity issued to fund that pre-need funeral contract. If a funeral establishment is designated as the...”

• La. R.S. tit. 22 § 905(A) (Written notice required before lapsing life policies)

  “A. No life insurer shall within one year after default in payment of any premium, installment, loan, or interest, declare forfeited or lapsed any policy issued or renewed, and not issued upon the payment of monthly or weekly premiums or for a term of one year or less, for nonpayment when due of any...”

• La. R.S. tit. 22 § 904 (Ante-dating of life insurance policies prohibited)

  “No insurer shall knowingly deliver or issue for delivery in this state any policy or contract of life insurance which purports to be issued or to take effect as of a date more than six months before the application was made, if the premium on such policy or contract is reduced below the premium...”

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• La. R.S. 22:1964: Methods, acts, and practices defined as unfair or deceptiveState statute
• La. R.S. Title 22, insurance contract and standard policy provisions: 22:861, 862, 863, 865, 866, 867, 884, 931, 942, 951 and 977State statute
• Louisiana Insurance Code - Group, Family Group, Blanket and Association Health and Accident Insurance (La. R.S. 22:978, 1000, 1003, 1003.1, 1024, 1025, 1045, 1046, 1061-1071)State statute
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• Louisiana Insurance Code - Health and Accident Insurance Policy Provisions (La. R.S. 22:971 through 22:995)State statute
• Louisiana Insurance Code - The Insurance Contract; Provisions Applicable to All Insurers (La. R.S. 22:851 through 22:890)State statute
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