South Dakota Codified Laws 58-11-44.1. Unanswered questions no basis for denial of recovery unless insurer demandedanswers
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Questions on an application for a life or health insurance policy or annuity contract which are not answered shall not serve as a basis for denying recovery pursuant to subdivisions 58-11-44(1) to (3), inclusive, unless the insurer challenges the same and demands an answer within ninety days from receipt of the application.
Terms Used In South Dakota Codified Laws 58-11-44.1
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Answer: The formal written statement by a defendant responding to a civil complaint and setting forth the grounds for defense.
- Contract: A legal written agreement that becomes binding when signed.
Source: SL 1974, ch 310.