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23-81-107. Life insurance — Misstatement of age provision.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-81-107. Life insurance — Misstatement of age provision.
(a) 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 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.
(b) As to overstatement of age, the policy may provide, in lieu of the provisions required under subsection (a) of this section, that the insurer will refund any excess of premium collected for the amount of insurance or benefit stated in the policy, as based upon the correct age.
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-81-107
Stored review status: Historical 2020-11-06 source release; later amendments not reconciled; machine-extracted, not independently legally reviewed; source heading status: text_in_historical_source. A text match is a research starting point; applicability is not established.
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Record provenance
Stable record: arkansas_code:legal_authorities:23-81-107
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: 498c4c6e4797384ecdf916dbf2e61304a5fbe30b1070fb6076d935dcd6c0947d
Source location: content.xml paragraph 48657
Stored source content
23-81-107. Life insurance — Misstatement of age provision.
(a) 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 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.
(b) As to overstatement of age, the policy may provide, in lieu of the provisions required under subsection (a) of this section, that the insurer will refund any excess of premium collected for the amount of insurance or benefit stated in the policy, as based upon the correct age.
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