South Dakota Changes Life Exclusions Statute

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.