S.D. Codified Laws § 58-15-37

Current through the 2024 Legislative Session

Section 58-15-37 - Adjusted premiums-Term insurance benefits provided by rider or supplemental policy

The adjusted premiums for any policy providing term insurance benefits by rider or supplemental policy provision shall be equal to:

(1) The adjusted premiums for an otherwise similar policy issued at the same age without such term insurance benefits, increased during the period for which premiums for such term insurance benefits are payable, by

(2) The adjusted premiums for such term insurance,

the foregoing items (1) and (2) being calculated separately and as specified in §§ 58-15-35 and 58-15-36 except that, for the purposes of subdivisions 58-15-35(2), (3), and (4), the amount of insurance or equivalent uniform amount of insurance used in the calculation of the adjusted premiums referred to in item (2) of this section shall be equal to the excess of the corresponding amount determined for the entire policy over the amount used in the calculation of the adjusted premiums in item (1) of this section.

SDCL 58-15-37

SL 1966, ch 111, ch 23, § 28 (5).