Each policy of industrial sickness and accident insurance shall be subject to the provisions of sections 44-709 to 44-767, except that no such policy shall be required to contain any of the provisions set forth in sections 44-710.03 and 44-710.04. No such policy shall contain any provision relative to notice of proof of loss, the time for paying benefits, or the time within which suit may be brought upon the policy, which in the opinion of the Director of Insurance is less favorable to the insured than would be permitted by such standard provisions. Such policy may contain a provision that upon proper written request a named beneficiary shall be designated in or by endorsement on the policy to receive the proceeds thereof on the death of the insured, and there shall be reserved to the insured the power to change the beneficiary at any time by written notice to the insurer at its home office, accompanied by the policy for endorsement of the change thereon by the insurer. The insurer shall have the right to refuse to designate a beneficiary if evidence satisfactory to the company of such beneficiary’s insurable interest in the life of the insured is not furnished on request. Any such policy may provide in substance that any payment thereunder may be made to the insured or to the insured’s estate or to any relative by blood or connection by marriage of the insured or, to the extent of such portion of any payment under the policy as may reasonably appear to the insurer to be due to such person, to any other person equitably entitled thereto by reason of having incurred expense occasioned by the maintenance or illness or burial of the insured, except that if the policy is in force at the death of the insured, the proceeds thereof shall be payable to the named beneficiary if living, but upon the expiration of fifteen days after the death of the insured, unless proof of claim in the manner and form required by the policy, accompanied by the policy for surrender, has theretofore been made by such beneficiary, the insurer may pay to any other person permitted by the policy.