(a) Except as provided in subsection (b), nothing in this chapter applies to, or shall affect:

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Terms Used In Tennessee Code 56-26-122

  • accident and sickness insurance: includes any policy or contract covering insurance against loss resulting from sickness or from bodily injury or death by accident, or both. See Tennessee Code 56-26-101
  • 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.
  • Insured: as used in this chapter , shall not be construed as preventing a person other than the insured with a proper insurable interest from making application for, and owning a policy covering the insured, or from being entitled under such a policy to any indemnities, benefits and rights provided in the policy. See Tennessee Code 56-26-112
(1) Any policy of workers’ compensation insurance or any policy of liability insurance with or without supplementary expense coverage in such policy;
(2) Any policy or contract of reinsurance;
(3) Any blanket or group insurance policy; or
(4) Life insurance or annuity contracts, or contracts supplemental thereto, that contain only the provisions relating to accident and sickness insurance as:

(A) Provide additional benefits in case of death or dismemberment or loss of sight by accident; or
(B) Operate to safeguard the 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.
(b) Sections 56-26-101 – 56-26-103 and 56-26-105 apply to any blanket or group insurance policy.
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