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23-85-107. Time limit on certain defenses provision.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-85-107. Time limit on certain defenses provision.
(a) There shall be a provision as follows:
“Time Limit on Certain Defenses: (1) After three (3) years from the date of issue of this policy, no misstatements, except fraudulent misstatements, made by the applicant in the application for such policy shall be used to void the policy or to deny a claim for loss incurred or disability as defined in the policy commencing after the expiration of such three-year period.
“(2) No claim for loss incurred or disability, as defined in the policy, commencing after three (3) years from the date of issue of this policy shall be reduced or denied on the ground that a disease or physical condition not excluded from coverage by name or specific description effective on the date of loss had existed prior to the effective date of coverage of this policy.”
(b) Provision number one (1) as stated in subsection (a) of this section shall not be so construed as to affect any legal requirement for avoidance of a policy or denial of a claim during the initial three-year period, nor to limit the application of §§ 23-85-119 — 23-85-121 in the event of misstatement with respect to age or occupation or other insurance.
(c) A policy which the insured has the right to continue in force subject to its terms by the timely payment of premium until at least fifty (50) years of age or, in the case of a policy issued after forty-four (44) years of age, for at least five (5) years from its date of issue, may contain in lieu of the foregoing the following provision, from which the clause in parentheses may be omitted at the insurer's option, under the caption “Incontestable”:
“After this policy has been in force for a period of three (3) years during the lifetime of the insured (excluding any period
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-85-107
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:23-85-107
Source file: gov.ar.code.title.23.odt
Pages: Not recorded – Not recorded
Passage SHA-256: c4c7ed115077addd9832a3ed245304a6f74946b5739cd750da0dba53536226ea
Source location: content.xml paragraph 51247
Stored source content
23-85-107. Time limit on certain defenses provision.
(a) There shall be a provision as follows:
“Time Limit on Certain Defenses: (1) After three (3) years from the date of issue of this policy, no misstatements, except fraudulent misstatements, made by the applicant in the application for such policy shall be used to void the policy or to deny a claim for loss incurred or disability as defined in the policy commencing after the expiration of such three-year period.
“(2) No claim for loss incurred or disability, as defined in the policy, commencing after three (3) years from the date of issue of this policy shall be reduced or denied on the ground that a disease or physical condition not excluded from coverage by name or specific description effective on the date of loss had existed prior to the effective date of coverage of this policy.”
(b) Provision number one (1) as stated in subsection (a) of this section shall not be so construed as to affect any legal requirement for avoidance of a policy or denial of a claim during the initial three-year period, nor to limit the application of §§ 23-85-119 — 23-85-121 in the event of misstatement with respect to age or occupation or other insurance.
(c) A policy which the insured has the right to continue in force subject to its terms by the timely payment of premium until at least fifty (50) years of age or, in the case of a policy issued after forty-four (44) years of age, for at least five (5) years from its date of issue, may contain in lieu of the foregoing the following provision, from which the clause in parentheses may be omitted at the insurer's option, under the caption “Incontestable”:
“After this policy has been in force for a period of three (3) years during the lifetime of the insured (excluding any period during which the insured is disabled), it shall become incontestable as to the statements contained in the application.”
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Arkansas Code — all titles (historical 2020) · legal_authorities
23-85-119. Optional change of occupation provision.
There may be a provision as follows:
“Change of Occupation: If the insured is injured or contracts sickness after having changed his occupation to one classified by the insurer as more hazardous than that stated in this policy or while doing for compensation anything pertaining to an occupation so classified, the insurer will pay only such portion of the indemnities provided in this policy as the premium paid would have purchased at the rates and within the limits fixed by the insurer for such more hazardous occupation. If the insured changes his occupation to one classified by the insurer as less hazardous than that stated in this policy, the insurer, upon receipt of proof of such change of occupation, will reduce the premium rate accordingly, and will return the excess pro rata unearned premium from the date of change of occupation or from the policy anniversary date immediately preceding receipt of such proof, whichever is the more recent. In applying this provision, the classification of occupational risk and the premium rates shall be such as have been last filed by the insurer, prior to the occurrence of the loss for which the insurer is liable or prior to date of proof of change in occupation, with the state official having supervision of insurance in the state where the insured resided at the time this policy was issued; but if such filing was not required, then the classification of occupational risk and the premium rates shall be those last made effective by the insurer in such state prior to the occurrence of the loss or prior to the date of proof of change in occupation.”
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-85-119
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. The source passage cites 23-85-119. This identifies an authority to review, not proof of applicability.
Arkansas Code — all titles (historical 2020) · legal_authorities
23-85-121. Optional other insurance in this insurer provision.
(a) There may be a provision as follows:
“Other Insurance in This Insurer: If an accident or sickness or accident and sickness policy or policies previously issued by the insurer to the insured is in force concurrently herewith, making the aggregate indemnity for (insert type of coverage or coverages) in excess of $ (insert maximum limit of indemnity or indemnities) the excess insurance shall be void and all premiums paid for such excess shall be returned to the insured or to his estate.”
(b) In lieu of the provision in subsection (a) of this section, there may be a provision as follows:
“Insurance effective at any one (1) time on the insured under a like policy or policies in this insurer is limited to the one (1) such policy elected by the insured, his beneficiary or his estate, as the case may be, and the insurer will return all premiums paid for all other such policies.”
Source: Arkansas Code — historical release 78 (November 6, 2020) · 23-85-121
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. The source passage cites 23-85-121. This identifies an authority to review, not proof of applicability.