S.D. Codified Laws § 58-33-126 (2026) – Using the credited interest rate as net return or misrepresenting mortality costs considered false, misleading, deceptive, or unfair.

The following acts or practices by an insurer or insurance producer are declared to be false, misleading, deceptive, or unfair:

(1) Using or describing the credited interest rate on a life insurance policy in a manner that implies that the credited interest rate is a net return on premium paid; or
(2) Excluding individually issued annuities, misrepresenting the mortality costs of a life insurance product, including, stating, or implying that the product costs nothing or is free.

Source: SL 2008, ch 272 , § 10.