S.D. Admin. R. 20:06:06:05

Current through Register Vol. 51, page 67, December 16, 2024

Section 20:06:06:05 - Restricted coverages - Rates

If a credit life or credit health insurance form provides for coverages which are more restrictive than provided for in § 20:06:06:03.01 or 20:06:06:04.02, the insurer shall demonstrate to the satisfaction of the director that the schedule of premium rates applicable to such forms will, or can reasonably be expected to, produce a loss ratio of 50 percent in accordance with the basic test set forth in § 20:06:06:01. In no event will an insurer limit pre-existing condition coverage to be more restrictive than that allowed in SDCL 58-17-97 or a suicide exclusion that is more restrictive than allowed in SDCL 58-15-45.

4 SDR 6, effective 8/9/1977; 5 SDR 91, effective 4/25/1979; 12 SDR 151, 12 SDR 155, effective 7/1/1986; 38 SDR 116, effective 1/10/2012.

General Authority: SDCL 58-19-34.

Law Implemented: SDCL 58-15-45, 58-17-97, 58-19-26.