Utah Code 31A-22-424. Documents constituting entire life insurance policy
Current as of: 2023 | Check for updates
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| (1) | A life insurance policy shall contain a provision that defines the documents and agreements that constitute the entire contract between the parties. |
| (i) | a risk distributing arrangement providing for compensation or replacement for damages or loss through the provision of a service or a benefit in kind; |
| (ii) | a contract of guaranty or suretyship entered into by the guarantor or surety as a business and not as merely incidental to a business transaction; and |
| (iii) | a plan in which the risk does not rest upon the person who makes an arrangement, but with a class of persons who have agreed to share the risk. See Utah Code 31A-1-301
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