South Dakota § 58-15-45 - Excluding or restricting coverage in case of death--Permissible exclusions.

§ 58-15-45. Excluding or restricting coverage in case of death--Permissible exclusions.

No policy of life insurance may be delivered or issued for delivery in this state if it contains any provision which excludes or restricts liability for death caused in a certain specified manner or occurring while the insured has a specified status. However, a policy may contain provisions excluding or restricting coverage as specified in the policy in the event of death under any one or more of the following circumstances:

(1)    Death as a result, directly or indirectly, of war, declared or undeclared, or of action by military forces, or of any act or hazard of such war or action, or of service in the military, naval, or air forces or in civilian forces auxiliary thereto, or from any cause while a member of such military, naval, or air forces of any country at war, declared or undeclared, or of any country engaged in such military action. However, this exclusion is not enforceable unless the applicant is affirmatively advised at the time of delivery of the policy that the policy in question contains war clause exclusions;

(2)    Death as a result of aviation or any air travel or flight;

(3)    Death as a result of a specified hazardous occupation or occupations;

(4)    Death within two years from the date of issue of the policy as a result of suicide, while sane or insane;

(5)    Any other exclusion or restriction the director may adopt, by rule promulgated pursuant to chapter 1-26, if the exclusion or restriction is in the best interest of the insurance buying public.

Source: SL 1966, ch 111, ch 23, § 26 (1) (b); SL 1992, ch 346; SL 2002, ch 233, § 1.