58-28-24. Statement included as to variability of benefits.
Any such contract under which the benefits vary to reflect investment experience, including a group contract and any certificate in evidence of variable benefits issued thereunder, shall state that such dollar amount will so vary and shall contain on its first page a statement to the effect that the benefits thereunder are on a variable basis.
Source: SL 1966, ch 111, ch 6, §36 (4) as added by SL 1967, ch 131; SDCL, §58-28-4; SL 1971, ch 266, §2.
Structure South Dakota Codified Laws
Chapter 28 - Separate Life Insurance And Annuity Accounts
Section 58-28-14 - Approval required to maintain guaranteed benefits and funds in separate account.
Section 58-28-16 - Gains and losses from allocated assets credited or charged to separate account.
Section 58-28-17 - Ownership by insurer--Not a trustee.
Section 58-28-18 - Separate account not chargeable with liabilities from other business.
Section 58-28-19 - Voting and other rights accorded to beneficiaries of accounts.
Section 58-28-20 - Restrictions on transfers between accounts.
Section 58-28-21 - Valuation of assets allocated to account.
Section 58-28-22 - Valuation of portion of assets equal to reserve liability.
Section 58-28-23 - Contract to state procedure for determining amount of variable benefits.
Section 58-28-24 - Statement included as to variability of benefits.
Section 58-28-24.1 - Right of annuitant to cancel--Refund by insurer.
Section 58-28-25 - Approval by director required for variable contracts.
Section 58-28-26 - Factors considered by director in examining variable contracts.
Section 58-28-27 - Affiliated insurer measured by factors applicable to parent.
Section 58-28-28 - Grace, reinstatement, and nonforfeiture provisions required.
Section 58-28-29 - Actuarial standards for reserve liability on variable contracts.
Section 58-28-30 - General insurance law applicable--Exceptions.
Section 58-28-32 - Deferment of variable death benefits payment--Time period--State of emergency.