§ 33-20-101 Scope
§ 33-20-102 Industrial life insurance defined
§ 33-20-103 Standard provisions required — exceptions
§ 33-20-104 Grace period
§ 33-20-105 Incontestability
§ 33-20-106 Entire contract
§ 33-20-107 Misstatement of age
§ 33-20-108 Dividends
§ 33-20-109 Renumbered 33-20-131
§ 33-20-110 Table of values
§ 33-20-111 Table of installments
§ 33-20-112 Reinstatement
§ 33-20-113 Payment of premiums
§ 33-20-114 Payment of claims — interest
§ 33-20-115 Beneficiary — industrial policies
§ 33-20-116 Title
§ 33-20-117 Nonforfeiture rights — policies issued before operative date
§ 33-20-118 Contestability — excluded or restricted coverage
§ 33-20-119 Incontestability — limitation on liability after reinstatement of life insurance or annuity
§ 33-20-120 Policy settlements — holding proceeds — indebtedness deducted from proceeds
§ 33-20-121 Prohibited provisions — limitations on liability
§ 33-20-122 Prohibited provisions — industrial life insurance
§ 33-20-123 Prohibited policy plans — life insurance policies or annuity contracts
§ 33-20-124 Policy provisions — conformity with state statutes
§ 33-20-127 Life insurance policy with long-term care provision or accelerated benefits provision — summary required
§ 33-20-128 Life insurance policy paying long-term benefits — monthly report
§ 33-20-131 Policy loan or certificate loan
§ 33-20-132 Variable policy loan interest rates — purpose
§ 33-20-133 Variable interest rates — exclusions from application
§ 33-20-134 Variable interest rates — published monthly average defined
§ 33-20-135 Variable interest rates on policy loans
§ 33-20-136 Variable interest rates — applicability to policies issued before October 1985
§ 33-20-141 Notice required for cancellation
§ 33-20-142 Contents of notice — proof — limitation on recovery — exemptions
§ 33-20-150 Life insurance policy and sales illustrations — annuity disclosure — rules
§ 33-20-151 Repealed
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Terms Used In Montana Code > Title 33 > Chapter 20 > Part 1 - Policy Provisions

  • 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.
  • Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
  • Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
  • Contract: A legal written agreement that becomes binding when signed.
  • Dependent: A person dependent for support upon another.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Fraud: Intentional deception resulting in injury to another.
  • Grace period: The number of days you'll have to pay your bill for purchases in full without triggering a finance charge. Source: Federal Reserve
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Person: includes a corporation or other entity as well as a natural person. See Montana Code 1-1-201
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the territories. See Montana Code 1-1-201
  • Statute: A law passed by a legislature.
  • United States: includes the District of Columbia and the territories. See Montana Code 1-1-201
  • Writing: includes printing. See Montana Code 1-1-203