Title XXIV, BUSINESS AND FINANCIAL INSTITUTIONS

376.465. Missouri health insurance rate transparency act — definitions — rate filing requirements, procedure — rulemaking authority. — 1. This section shall be known and may be cited as the "Missouri Health Insurance Rate Transparency Act". 2. It is the intent of the Missouri gen…

376.480. Domestic companies may assume risks of foreign companies — duties of director. — Whenever any life insurance company incorporated under the laws of this state assumes the risks, in whole or in part, of any life insurance company incorporated under the laws of any other s…

376.500. Discriminations, rebates and favors prohibited — contracts to conform to policy. — No life insurance company doing business in this state shall make or permit any distinction or discrimination in favor of individuals between insurants (the insured) of the same class and …

376.502. Life insurers not to discriminate based on lawful travel destinations — violations, penalty. — 1. No life insurance company doing business within this state shall deny or refuse to accept an application for life insurance, refuse to renew, cancel, restrict, or otherwise …

376.510. Penalty for violation of section 376.500. — Any life insurance company or association which may violate any of the provisions of section 376.500 or which may permit any of its agents or representatives in this state to violate said provisions, shall have its certificate …

376.531. Life insurance policies, consent of insured required, exceptions — employers have insurable interest in employees, when, effects. — 1. No life insurance contract upon an individual, except a contract of group life insurance, shall be made or effectuated unless at the tim…

376.540. Policy, to whom payable. — In case of the death of the wife before the decease of the husband, the amount of the insurance shall be payable to her heirs, for their use, and to their conservator, if under age, unless otherwise provided for and stipulated in the policy. ­­…

376.562. Charitable, benevolent, educational and religious organizations may be beneficiary or owner of policy, life insurance, when — fraud or coercion, exception. — It shall be lawful for any charitable, benevolent, educational or religious institution qualified pursuant to sec…

376.570. Foreign executor or administrator. — Whenever any nonresident of this state dies leaving a policy of life insurance issued by any life insurance company of this state and payable to his estate, it shall be lawful for the executor or administrator, duly appointed under th…

376.580. Misrepresentation. — No misrepresentation made in obtaining or securing a policy of insurance on the life or lives of any person or persons, citizens of this state, shall be deemed material, or render the policy void, unless the matter misrepresented shall have actually …

376.590. Misrepresentations, false estimates and circulars prohibited — agents — notes to be held until policy delivered. — 1. No life insurance company doing business in this state, and no officer, director, or agent thereof, shall issue or circulate, or cause or permit to be is…

376.600. Penalty for violating section 376.590. — Any life insurance company which may violate any of the provisions of section 376.590, or which may permit any of its agents or representatives in this state to violate said provisions, shall have its certificate of authority or l…

376.610. Defense in case of suits. — In suits brought upon life policies, heretofore or hereafter issued, no defense based upon misrepresentation in obtaining or securing the same shall be valid, unless the defendant shall, at or before the trial, deposit in court for the benefit…

376.620. Suicide, effect on liability — refund of premiums, when. — 1. Any life insurance policy, rider, endorsement, amendment, or certificate issued or delivered in this state may exclude or restrict liability under such policy, rider, endorsement, amendment, or certificate for…

376.630. Life insurance policies not to be forfeited or become invalid, when. — No policies of insurance on life issued prior to the operative date of section 376.670 by any life insurance company authorized to do business in this state shall, after payment upon it of three or mo…

376.640. Paid-up policy may be demanded, when. — At any time after the payment of three or more full annual premiums, and not later than sixty days from the beginning of the extended insurance provided in section 376.630, the legal holder of any policy affected by section 376.630…

376.650. Rules of payment on commuted policy. — If the death of the insured occur within the term of temporary insurance covered by the value of the policy as determined in section 376.630, and if no condition of the insurance other than the payment of premiums shall have been vi…

376.660. Foregoing provisions inapplicable, when. — Sections 376.630 to 376.650 shall not be applicable in the following cases, to wit: If the policy shall contain a provision for an unconditional surrender value, at least equal to the net single premium, for the temporary insura…

376.669. Annuity contract requirements — paid-up annuity benefits, how calculated — cash surrender benefits, how calculated — applicable, when. — 1. This section shall not apply to any reinsurance, group annuity purchased under a retirement plan, or plan of deferred compensation …

376.670. Provisions which shall be contained in life insurance policies, exceptions. — 1. As used in this section, operative date of the valuation manual shall have the same meaning as set forth in section 376.365. 2. In the case of policies issued on or after the operative date …

376.671. Provisions which shall be contained in annuity contracts — inapplicability date. — 1. This section shall not apply to any reinsurance, group annuity purchased under a retirement plan or plan of deferred compensation established or maintained by an employer (including a p…

376.673. Life insurance policies, regulations relative to. — 1. No life insurance policy shall be issued or delivered in this state after October 13, 1967, which: (1) By its terms expressly provides that the policyholder will participate in the distribution of earnings or surplus…

376.674. Life insurance policies, no cash surrender value, regulations relative to. — 1. Notwithstanding any provision of section 376.670 to the contrary, after September 28, 1987, a company may issue policies of life insurance which differ from its existing or currently filed po…

376.675. Life insurance policies and annuity contracts to be approved — exemption, when — director's powers — judicial review of disapproval. — 1. No policy of life insurance or contract of annuity shall be delivered or issued for delivery to any person in this state unless the p…

376.676. Regulation of the valuation of life insurance policies — may adopt NAIC model regulation. — The department of commerce and insurance shall promulgate regulations governing the valuation of life insurance policies. The department of commerce and insurance may adopt the "V…

376.677. Life policies may be issued that have no cash surrender value prior to death — no policy loans so law regulating not applicable — requirements to issue. — 1. Notwithstanding any provision of section 376.670, to the contrary, after September 28, 1987, a company may issue …

376.678. Life insurance policies and annuity contracts, annual statement to holder required — company to furnish policy or contract information to holder upon request. — 1. Notwithstanding any other provision of law, all life insurance companies licensed to do business in this st…

376.679. Life insurance company may reinsure for risks involving aircraft, limitation. — Any domestic life insurer or reinsurer may also reinsure, by itself, or together with other insurance companies, subject to any limitations, approval or rules promulgated by the director of t…

376.680. Assignment of incidents of ownership, group life policy, effect of. — Subject to the terms of the policy relating to assignment of incidents of ownership thereunder, a person whose life is insured under a policy of group life insurance may assign any or all incidents of …

376.685. Optometrists, health insurance plans not to limit fees charged unless reimbursed by plan — requirements — definitions. — 1. No agreement between a health carrier or other insurer that writes vision insurance and an optometrist for the provision of vision services on a pr…

376.690. Unanticipated out-of-network care, claim procedure — definitions — limitation on amount billed to patient — external arbitration process — rulemaking authority. — 1. As used in this section, the following terms shall mean: (1) "Emergency medical condition", the same mean…

376.691. Group life policies, eligible groups authorized for issue — premiums, how paid. — Except as provided in section 376.693, no policy of group life insurance shall be delivered in this state unless it is one of the following: (1) A policy issued to an employer, or to the tr…

376.693. Special group life policies, requirements — director's approval. — Group life insurance offered to a resident of this state under a group life insurance policy issued to a group other than one described in section 376.691 shall be subject to the following requirements: (…

376.694. Group life, definitions of direct response solicitation and sponsoring or endorsing entity — certain insurers required to give notice of compensation to policyholder or endorsing entity. — 1. As used in this section, the following terms shall mean: (1) "Direct response s…

376.695. Extension of policy to insure for loss due to death of spouse or dependent children, requirements, limitations. — Except for a policy issued under subdivision (2) of section 376.691, a group life insurance policy may be extended to insure the employees or members against…

376.696. Political subdivisions purchasing any insurance policies to submit to competitive bidding, when — renewal between bidding periods deemed extension. — Any other law to the contrary notwithstanding, no contract shall be entered into by the governing body of any political s…

376.697. Required provisions for group life policies. — No policy of group life insurance shall be delivered in this state unless it contains in substance the following provisions, or similar provisions which, in the opinion of the director of the department of commerce and insur…

376.699. Person insured by group policy entitled to individual life policy, notice requirements. — If any individual insured under a group life insurance policy hereafter delivered in this state becomes entitled under the terms of such policy to have an individual policy of life …

376.700. Purpose — use of additional material. — 1. The purpose of sections 376.700 to 376.714 is to require insurers to deliver to purchasers of life insurance, information which will improve the buyer's ability to select the most appropriate plan of life insurance for his needs…

376.702. Application of law — exceptions. — 1. Except as hereafter exempted, sections 376.700 to 376.714 shall apply to any solicitation, negotiation or procurement of life insurance occurring within this state. Sections 376.700 to 376.714 shall apply to every issuer of life insu…

376.704. Definitions. — For the purposes of sections 376.700 to 376.714, the following definitions shall apply: (1) "Buyer's guide", a document which contains, and is limited to, the language contained in section 376.714 or language approved by the director of the department of c…

376.706. Delivery of guide and summary required, when. — 1. The insurer shall provide, to all prospective purchasers, a buyer's guide and a policy summary prior to accepting the applicant's initial premium or premium deposit, unless the policy for which application is made contai…

376.708. Required presentations and statements — company to maintain file. — 1. Each insurer shall maintain at its home office or principal office, a complete file containing one copy of each document authorized by the insurer for use pursuant to sections 376.700 to 376.714. Such…

376.710. Effect of omission. — Deliberate failure of an insurer to provide or deliver a buyer's guide, or a policy summary as provided in section 376.706 shall constitute an omission which misrepresents the benefits, advantages, conditions or terms of an insurance policy, and an …

376.712. Effective date. — Sections 376.700 to 376.714 shall apply to all solicitations of life insurance which commence on or after January 1, 1980. ­­-------- (L. 1979 H.B. 508 § 7)

376.714. Contents and form of buyer's guide. — The life insurance buyer's guide shall consist of the following: (1) The face page of the buyer's guide shall read as follows: ­ ­ (2) The buyer's guide shall contain the following language at the bottom of page 2: ­ ­ (3) The remain…