State statute · Oklahoma

Standard provisions required in life insurance policies

Okla. Stat. tit. 36, ss. 36-4001 to 36-4023

Publisher: Oklahoma State Legislature
Edition: State statute, retrieved 2026-08-28
Last checked: 2026-09-10
Status: Oklahoma Statutes, public domain

Edition and licensing notes

Publisher. Oklahoma State Legislature (oksenate.gov)

Status. Oklahoma Statutes, public domain.

Read the official text Practice questions from this source

What this document is

Okla. Stat. tit. 36, ss. 36-4001 to 36-4023: Standard provisions required in life insurance policies is a state statute published by Oklahoma State Legislature (oksenate.gov). It is one of the Oklahoma documents that insurance license exam questions are written from, including oklahoma 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.

Okla. Stat. tit. 36 § 4007 (Dividends)
“any dividend so apportioned shall at the option of the party entitled to elect such option be either (a) payable in cash or (b) applied to any one of such other dividend options as may be provided by the policy.”
Okla. Stat. tit. 36 § 4003 (Grace Period)
“if a claim arises under the policy during such period of grace before the overdue premium is paid the amount of such premium may be deducted from the policy proceeds.”
Okla. Stat. tit. 36 § 4004 (Incontestability)
“shall be incontestable, except for nonpayment of premiums, after it has been in force during the lifetime of the insured for a period of two (2) years from its date of issue.”
Okla. Stat. tit. 36 § 4006 (Misstatement of Age)
“There shall be a provision that if the age of the insured or any other person whose age is considered in determining the premium has been misstated, any amount payable or benefit accruing under the policy shall be such as the premium would have purchased at the correct age or ages.”
Okla. Stat. tit. 36 § 4011 (Reinstatement)
“There shall be a provision that unless the policy has been surrendered for its cash surrender value or unless the paid-up term insurance, if any, has expired, the policy will be reinstated at any time within three (3) years from the date of premium default upon written application therefor, the...”
Okla. Stat. tit. 36, § 4005 (Application and Policy as Entire Contract; Statements as Representations)
“There shall be a provision that the policy, or the policy and the application therefor if a copy of such application is endorsed upon or attached to the policy when issued, shall constitute the entire contract between the parties, and that all statements contained in the application shall, in the...”
Okla. Stat. tit. 36, § 4003 (Grace Period)
“There shall be a provision that a grace period of thirty (30) days, or, at the option of the insurer, of one month of not less than thirty (30) days, shall be allowed within which the payment of any premium after the first may be made, during which period of grace the policy shall continue in full...”
Okla. Stat. tit. 36, § 4004 (Incontestability)
“There shall be a provision that the policy (exclusive of provisions relating to disability benefits or to additional benefits in the event of death by accident or accidental means) shall be incontestable, except for nonpayment of premiums, after it has been in force during the lifetime of the...”
Okla. Stat. tit. 36, § 4008(D) (Policy loan; deferral)
“the policy shall reserve to the insurer the right to defer the granting of a loan, other than for the payment of any premium to the insurer, for six (6) months after the application therefor is made.”

Practice this material

Oklahoma Life & Health practice test

Questions about this source

No. This page summarizes the document and links to the official version. Always rely on the text published by Oklahoma State Legislature (oksenate.gov) for the current law.

Practice questions for Oklahoma Life & Health cite this document.

More Oklahoma sources

See all Oklahoma sources →