State statute · Wyoming

Standard provisions required in life insurance policies

Wyo. Stat. Ann. ss. 26-16-102 to 26-16-120

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

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Publisher. Wyoming Legislature (wyoleg.gov)

Status. Wyoming Statutes, public domain.

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What this document is

Wyo. Stat. Ann. ss. 26-16-102 to 26-16-120: Standard provisions required in life insurance policies is a state statute published by Wyoming Legislature (wyoleg.gov). It is one of the Wyoming documents that insurance license exam questions are written from, including wyoming 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.

Wyo. Stat. Ann. § 26-16-119(a)(i) (Provisions limiting liability prohibited)
“No life insurance policy shall be delivered or issued for delivery in this state if it contains any provision: (i) Limiting the time within which an action at law or in equity may be commenced on the policy to less than three (3) years after the cause of action has accrued;”
Wyo. Stat. Ann. § 26-16-103 (Grace period)
“The policy shall continue in full force during the grace period, which shall be counted from the premium due date specified in the policy. The insurer may impose an interest charge not to exceed six percent (6%) per annum for the number of days of grace elapsing before the payment of the premium,...”
Wyo. Stat. Ann. § 26-16-106 (Misstatement of age)
“If the age of the insured or of any other person whose age is considered in determining the premium or benefit is misstated, any amount payable or benefit accruing under the policy shall be in an amount as the premium would purchase at the correct age.”
Wyo. Stat. Ann. § 26-16-120(a)(i) (Prohibited provisions generally)
“No life insurance policy, other than industrial insurance, shall be issued or delivered in this state, or be issued by any domestic insurer, if it contains any provision: (i) By which the policy purports to be issued or to take effect more than one (1) year before the original application for the...”
Wyo. Stat. Ann. § 26-16-118(a)(ii) (Standard provisions for reversionary annuities)
“A provision that the contract may be reinstated at any time within three (3) years from the date of default in making stipulated payments to the insurer, upon production of evidence of insurability satisfactory to the insurer, and upon condition that all overdue payments and any indebtedness to the...”
Wyo. Stat. Ann. § 26-16-104 (Incontestability)
“The policy, exclusive of provisions relating to disability benefits or to additional benefits in case of death by accident or accidental means, is incontestable, except for nonpayment of premiums, after it is in force during the insured's lifetime for a period of two (2) years from its date of issue.”
Wyo. Stat. Ann. § 26-16-108(d) (Policy Loans: Deferral of Loan)
“The policy shall reserve the insurer's right to defer the granting of a loan, other than for the payment of any premium to the insurer, for six (6) months after application. The provision shall also contain a table indicating in writing the loan values each year during the first twenty (20) years...”
Wyo. Stat. Ann. § 26-16-108(c)(ii) (Policy Loans: Termination for Excess Indebtedness)
“If the total indebtedness on the policy, including interest due or accrued, equals or exceeds the amount of the policy loan value, the policy terminates and is void after notice is mailed by the insurer within at least thirty (30) days to the last address of record with the insurer of the insured...”
Wyo. Stat. Ann. § 26-16-110(a) (Reinstatement of Policies)
“Unless the policy has been surrendered for its cash surrender value, or its cash surrender value has been exhausted, or the paid-up term insurance, if any, has expired, the policy will be reinstated at any time within three (3) years, or two (2) years in the case of industrial life insurance...”
Wyo. Stat. Ann. tit. 26 ch. 16 § 26-16-112(a) (Payment of claims)
“If the benefits under the policy are payable because of the death of the insured, settlement shall be made upon receipt of proof of death and, at the insurer's option, surrender of the policy or proof of the interest of the claimant, or both.”
Wyo. Stat. Ann. tit. 26 ch. 16 § 26-16-112(c) (Payment of claims; date of payment)
“For purposes of this section, date of payment shall include the date of the postmark stamped on an envelope properly addressed and postage prepaid, containing the payment.”
Wyo. Stat. Ann. tit. 26 ch. 16 § 26-16-112(b) (Payment of claims; interest)
“Benefits shall be paid within the time requirements of W.S. 26-15-124 and shall include interest accrued from the date of death until date of payment. The interest rate shall be not less than the rate of interest payable on death proceeds left on deposit with the insurer.”

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Wyo. Stat. Ann. ss. 26-16-102 to 26-16-120: Standard provisions required in life insurance policies is a state statute published by Wyoming Legislature (wyoleg.gov). Edition: State statute, retrieved 2026-08-28.

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

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