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Kansas Statutes

Article 4

General Provisions Relating to Life Insurance Companies

40-401Formation of company on stock or mutual plan; powers of companies; combination policies; specified disease and critical illness riders; organizational requirements; guaranty funds; deposits with joint custodians; withdrawals, when; paid-up capital stock, surplus and deposit requirements; rules and regulations 40-402Paid-up capital stock, surplus; deposit of securities 40-403bSame; foreign companies 40-409Valuation of policies; compensation of actuary; standard valuation law; commissioners' reserve valuation method; lapse rates; aggregate reserves; calculations; Kansas companies doing business in another state; annual opinion by actuary on reserves; confidential; valuation manual; principle-based valuation; single state exemption 40-410Cancellation of policy for nonpayment of premiums; notice, when; policyowner defined 40-411Notice of intention to cancel policy for nonpayment of premium; time for payment 40-412When action to be maintained on insurance contract 40-413Death of beneficiary in policy; duties of insurance company 40-414Exemption of interests in policies; exceptions 40-414aTrust provisions in contracts; restrictions on alienation; exemptions 40-415Insurance to go to estate of insured when beneficiary dies before insured 40-416Subsequent agreements 40-417Fraud and perjury; penalty 40-418Materiality of misrepresentation in obtaining policy 40-419Tender of premiums with defense of misrepresentation 40-419aRefund upon cancellation of individual term policy; calculation 40-420Contents of insurance policy; exceptions 40-420aPolicy loan interest rates; purpose 40-420bSame; definitions 40-420cSame; methods to determine interest rates; definitions 40-420dSame; applicability to policies 40-421Provisions insurance policy not to contain 40-422Industrial life insurance; definitions 40-423Same; contents of industrial life insurance policy; exceptions; surrender 40-424Same; designation of beneficiary; change of; payments 40-425Same; cash surrender value and value of stipulated form to be equal 40-426Same; commissioner may authorize policies more favorable 40-427Nonforfeiture benefits and cash surrender values in life policies issued prior to the operative date of K.S.A. 40-428 40-428Standard nonforfeiture law 40-429Loan provisions in policies 40-431Definition of due date for the payment of premiums and of when premium in default 40-432Invalidity of part 40-433Group life insurance; types of policies and requirements 40-433aSame; provision granting employee right of assignment of benefits 40-434Same; policy provisions required 40-435Same; conversion privileges; notice 40-436Establishment of separate accounts; investment and handling; contracts for benefits in variable amounts; limitation and regulation of issuance; authority of commissioner; rules and regulations 40-437Same; application of other laws; variable life contracts, provisions required; reserve liability requirements 40-438Same; severability 40-439Assignment of rights and privileges under life and accident and health insurance policies 40-440Same; act acknowledges existing right of assignment 40-441Designation of trustee under will as beneficiary of life insurance policy 40-442Issuance of life insurance policy; filing of form prior to issuance 40-443Same; approval of commissioner 40-444Same; disapproval of policy form; notice, requirements; hearing 40-445Same; withdrawal of approval; notice and hearing; unlawful for insurer to issue or use such form 40-447Payment of life insurance proceeds; interest required to be paid, when 40-448Transfer of domicile of domestic company; approval of commissioner; admittance as foreign insurer; deposit of securities; certificate of secretary of state; continuation of existing authority and policies; nonrecognition of transfer for certain purposes 40-449Policies covering debtors, replacement by creditor; limitation on contestation 40-450Life insurance; insurable interests; assignments to charitable, benevolent, educational and religious institutions 40-451Coverage temporarily effective, when; written receipt for premium may exclude, void or limit coverage; refund of unearned premium 40-452Life insurance; employer's insurable interest in employees; when 40-453Life insurance; insurable interest 40-461Structured settlement protection act; definitions 40-462Same; disclosure statement, contents 40-463Same; approval of transfer; required findings 40-464Same; discharge of structured settlement obligor and annuity issuer, when; liability of transferee 40-465Same; application for approval of transfer of structured settlement payment rights; procedure 40-466Same; limitations on provisions of transfer agreement 40-467Same; citation of act; applicability to workers compensation 40-4,101Standard nonforfeiture law for individual deferred annuities; citation of act 40-4,102Same; application 40-4,103Same; nonforfeiture requirements 40-4,104Same; minimum values; rules and regulations 40-4,105Same; computation of present value 40-4,106Same; calculation of cash surrender value 40-4,107Same; calculation of paid-up annuity benefits 40-4,108Same; maturity date 40-4,109Same; disclosure of death benefits 40-4,110Same; inclusion of lapse of time considerations 40-4,111Same; proration of values; additional benefits 40-4,112Same; rules and regulations 40-4,113Same; effective date 40-4,201Unclaimed life insurance benefits act; citation 40-4,202Same; definitions 40-4,203Same; comparison to death master file; determination of beneficiaries, process; escheat to state, when