Iowa Code 514A.8 – Nonapplication to certain policies
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Terms Used In Iowa Code 514A.8
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Contract: A legal written agreement that becomes binding when signed.
- following: when used by way of reference to a chapter or other part of a statute mean the next preceding or next following chapter or other part. See Iowa Code 4.1
514A.8 Nonapplication to certain policies.
Nothing in this chapter shall apply to or affect any of the following:
1. Any policy of workers’ compensation insurance or any policy of liability insurance with or without supplementary expense coverage therein.
2. Any policy or contract of reinsurance.
3. Any blanket or group policy of insurance.
4. Life insurance, endowment or annuity contracts, or contracts supplemental thereto which contain only such provisions relating to accident and sickness insurance as provide additional benefits in case of death or dismemberment or loss of sight by accident, or as operate to safeguard such contracts against lapse, or to give a special surrender value or special benefit or an annuity in the event that the insured or annuitant shall become totally and permanently disabled, as defined by the contract or supplemental contract.
[C54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §514A.8]
2018 Acts, ch 1041, §102
Referred to in §514D.3, 514D.7
Nothing in this chapter shall apply to or affect any of the following:
1. Any policy of workers’ compensation insurance or any policy of liability insurance with or without supplementary expense coverage therein.
2. Any policy or contract of reinsurance.
3. Any blanket or group policy of insurance.
4. Life insurance, endowment or annuity contracts, or contracts supplemental thereto which contain only such provisions relating to accident and sickness insurance as provide additional benefits in case of death or dismemberment or loss of sight by accident, or as operate to safeguard such contracts against lapse, or to give a special surrender value or special benefit or an annuity in the event that the insured or annuitant shall become totally and permanently disabled, as defined by the contract or supplemental contract.
[C54, 58, 62, 66, 71, 73, 75, 77, 79, 81, §514A.8]
2018 Acts, ch 1041, §102
Referred to in §514D.3, 514D.7