Idaho § 41-1924 - Standard provisions - Reversionary annuities
Full text of Idaho Idaho Statutes § 41-1924 — Standard provisions - Reversionary annuities, with citation guidance and answers to common questions.
§ 41-1924. Standard provisions - Reversionary annuities
(1) Except as stated herein, no contract for a reversionary annuity shall be delivered or issued for delivery in this state unless it contains in substance each of the following provisions:
(a) Any such reversionary annuity contract shall contain the provisions specified in sections 41-1918 through 41-1922 except that under section 41-1918 the insurer may at its option provide for an equitable reduction of the amount of the annuity payments in settlement of an overdue payment in lieu of providing for deduction of such payments from an amount payable upon settlement under the contract.
(b) In such reversionary annuity contracts there shall be a provision that the contract may be reinstated at any time within three years from the date of default in making stipulated payments to the insurer, upon production of evidence of insurability satisfactory to the insurer, and upon condition that all overdue payments and any indebtedness to the insurer on account of the contract be paid, or, within the limits permitted by the then cash values of the contract, reinstated, with interest as to both payments and indebtedness at a rate to be specified in the contract but not exceeding six per cent (6%) per annum compounded annually.
(2) This section shall not apply to group annuities or to annuities included in life insurance policies, and any of such provisions not applicable to single premium annuities shall not to that extent be incorporated therein.
[41-1924, added 1961, ch. 330, sec. 455, p. 645.]
Source: official Idaho text · Last verified 2026-08-27
Frequently Asked Questions About Idaho § 41-1924
What does Idaho Statutes § 41-1924 cover?
Section 41-1924 ("Standard provisions - Reversionary annuities") is part of the Idaho Statutes, the codified statutory law of Idaho. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Idaho § 41-1924?
A common citation format is "Idaho Statutes § 41-1924" (Idaho). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Idaho law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Idaho official source linked on this page or consult a licensed Idaho attorney.
How does Idaho § 41-1924 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Idaho can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Idaho.