State statute · South Dakota

Life Insurance and Annuities (SDCL 58-15)

South Dakota Codified Laws Title 58, Chapter 58-15

Publisher: sdlegislature.gov
Edition: South Dakota Codified Laws
Last checked: 2026-09-02
Status: SD statutes, public domain

Edition and licensing notes

Edition. South Dakota Codified Laws (SDLRC official posting), statutes effective August 31, 2026

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

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What this document is

South Dakota Codified Laws Title 58, Chapter 58-15 - Life Insurance and Annuities (SDCL 58-15) is a state statute published by sdlegislature.gov. It is one of the South Dakota documents that insurance license exam questions are written from, including south dakota 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.

S.D. Codified Laws tit. 58 § 58-15-13 (Grace Period in Policy)
“There shall be a provision that a grace period of thirty days, or of four weeks in the case of industrial life insurance policies the premiums for which are payable more frequently than monthly, shall be allowed within which the payment of any premium after the first may be made, during which...”
S.D. Codified Laws tit. 58 § 58-15-11 (Exclusions and Restrictions Unaffected by Incontestability Clause)
“A clause in any policy of life insurance 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 in the policy which exclude or restrict...”
S.D. Codified Laws tit. 58 § 58-15-32 (Nonforfeiture Benefit Provisions Which May Be Omitted; Deferred Payment of Cash Surrender Value)
“Except for a private placement policy, the insurer shall reserve the right to defer the payment of any cash surrender value for a period of six months after demand therefor with surrender of the policy.”
S.D. Codified Laws tit. 58 § 58-15-22 (Reinstatement Provisions Required in Policy)
“There shall be a provision that unless: (1) The policy has been surrendered for its cash surrender value, or (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 three years, or two years in the...”
S.D. Codified Laws tit. 58 § 58-15-10 (Incontestability Provision Required--Exceptions)
“There shall be a provision that the policy, exclusive of provisions relating to health benefits or to additional benefits in the event of death by accident or accidental means, is incontestable, except for nonpayment of premiums or fraud on the part of the applicant or insured, after it has been in...”
S.D. Codified Laws tit. 58 § 58-15-9 (Effect of Misstatement in Policy Regarding Age)
“There shall be a provision that if the age of the insured, or of any other 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 purchased at the correct age or ages.”
S.D. Codified Laws § 58-15-26.2 (Computation of interest), in South Dakota Codified Laws Title 58, Chapter 58-15 - Life Insurance and Annuities (SDCL 58-15)
“Interest payable pursuant to § 58-15-26.1 shall be computed from the date of death of the insured until the date of payment and shall be at the rate of four percent per annum or not less than the current rate of interest on death proceeds left on deposit with the insurer under an interest...”
S.D. Codified Laws § 58-15-44 (Dating back of application for insurance to reduce premium prohibited--Contract not invalidated), in South Dakota Codified Laws Title 58, Chapter 58-15 - Life Insurance and Annuities (SDCL 58-15)
“No insurer may knowingly deliver or issue for delivery in this state any life insurance policy that purports to be issued or to take effect as of a date more than six months before the application therefor was made, if thereby the premium on the policy is reduced below the premium that would be...”
S.D. Codified Laws § 58-15-45 (Excluding or restricting coverage in case of death--Permissible exclusions), in South Dakota Codified Laws Title 58, Chapter 58-15 - Life Insurance and Annuities (SDCL 58-15)
“However, a policy may contain provisions excluding or restricting coverage as specified in the policy in the event of death under any one or more of the following circumstances: (1) Death as a result, directly or indirectly, of war, declared or undeclared, or of action by military forces, or of any...”

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South Dakota Codified Laws Title 58, Chapter 58-15 - Life Insurance and Annuities (SDCL 58-15) is a state statute published by sdlegislature.gov. Edition: South Dakota Codified Laws (SDLRC official posting), statutes effective August 31, 2026.

No. This page summarizes the document and links to the official version. Always rely on the text published by sdlegislature.gov for the current law.

Practice questions for South Dakota Life & Health cite this document.

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