514A.7 Age limit.
If any such policy contains a provision establishing, as an age limit or otherwise, a date after which the coverage provided by the policy will not be effective, and if such date falls within a period for which premium is accepted by the insurer or if the insurer accepts a premium after such date, the coverage provided by the policy will continue in force subject to any right of cancellation until the end of the period for which premium has been accepted. In the event the age of the insured has been misstated and if, according to the correct age of the insured, the coverage provided by the policy would not have become effective, or would have ceased prior to the acceptance of such premium or premiums, then the liability of the insurer shall be limited to the refund, upon request, of all premiums paid for the period not covered by the policy.
[C54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §514A.7]
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.