Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards

Life Health > Life Insurance

South Dakota Changes Life Exclusions Statute

Your article was successfully shared with the contacts you provided.

NU Online News Service, Feb. 22, 3:35 p.m. – South Dakota Gov. William Janklow has signed a bill, Senate Bill 37, that gives the state insurance director the authority to expand the list of exclusions allowed in life insurance policies.

The bill, which was introduced by the state Senate Commerce Committee, keeps four of the five exclusions permitted in the past. Life insurers can still refuse to pay benefits for deaths resulting from war, aviation, specific hazardous occupations, or suicide within two years after the purchase of the policy.

The bill eliminates an exclusion for deaths occurring outside the United States or Canada, but it adds a new section allowing the insurance director to use the normal regulatory process to promulgate any exclusion or restriction found to be in the best interest of the insurance-buying public.

The text of the bill is available at


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.