514A.3A Refund of unearned premium upon death of insured.
In the event of the death of the insured of any policy covered by this chapter, the insurer, upon receipt of notice of the insured’s death supported by a certified copy of a valid death certificate and a request for a pro rata refund by a party entitled to claim such a refund, shall refund the unearned premium prorated to the month of the insured’s death. Refund of the premium and termination of the coverage shall be without prejudice to any claim originating prior to the date of the insured’s death. The commissioner of insurance shall adopt by rule the minimum amount required for issuance of a refund.
2004 Acts, ch 1110, §39
Referred to in §514D.3, 514D.7
Structure Iowa Code
Chapter 514A - ACCIDENT AND HEALTH INSURANCE
Section 514A.1 - Definition of accident and sickness insurance policy.
Section 514A.2 - Form of policy.
Section 514A.3 - Accident and sickness policy provisions.
Section 514A.3A - Refund of unearned premium upon death of insured.
Section 514A.3B - Additional requirements.
Section 514A.4 - Conforming to statute.
Section 514A.6 - Notice — waiver.
Section 514A.8 - Nonapplication to certain policies.
Section 514A.10 - Judicial review.
Section 514A.11 - Inconsistent acts not applicable.
Section 514A.12 - Title and effective date of chapter.
Section 514A.13 - Filing requirement — prior approval.