South Dakota Codified Laws 58-11-55.1. Use of age or occupation in determining issuance or renewal of policies
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An insurer may use age in determining whether to issue or renew life, health, or annuity policies. An insurer may use occupation in determining whether to issue or renew a life or disability policy.
Terms Used In South Dakota Codified Laws 58-11-55.1
- 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.
Source: SL 1997, ch 287, § 2.