Page:United States Statutes at Large Volume 48 Part 1.djvu/1192

 1166 Incontestibility. Policy to eonstitute entire contract. Misstatement of age. Issue of individual certificate. New policy upon ter- mination of employ- ment. Addition of new em- ployees. Provisions in policy required by State, un- der laws of which com- pany organized. Standard provisions for accident and health policies. 73d CONGRESS. SESS. II. CH. 672. JUNE 19, 1934 . filed with the Superintendent and formally approved by him ; nor shall a policy be so issued or delivered unless it contains, in substance, the following provisions 1 . A provision that the policy shall be incontestable after two years from i ts dat e of i ssue, excep t for nonpay ment of pre miums and except for violation of the conditions of the policy relating to military or naval service in time of war. 2. A provision that the policy, the application of the employer, and the individual applications, if any, of the employees insured, shall constitute the entire contract between the parties, and that all statements made by the employer or by the individual employees shall, in the absence of fraud, be deemed representations and not warranties, and that no such statement shall be used in defense to a claim u nder th e polic y, unl ess it is cont ained in a wr itten a pplica tion, but a copy of such written application need not be attached to the policy. 3 . A provision for the equitable adjustment of the premium or the amount of insu rance payable in the event of a misstate ment of the age of an employee. 4. A provision that the company will issue to the employer for delivery to the employee, whose life is insured under such policy, an individual certificate setting forth a statement as to the insurance protection to which he is entitled, to whom payable, together with provisions to the ef fect that in case of the termination of the employ- ment, for any reason whatsoever, the employee shall be entitled to have issued to him by the company, without evidence of insurability, and upon application made to the company, within thirty-one days after such termination, and upon the payment of the premium appli- cable to the class of risk to which he belongs, and to the form and amount of the policy, at his then attained age, a policy of life insur- ance in any one of the forms customarily issued by the company, except term insurance, in an amount equal to the amount of his protection und er such group -insurance po licy at the ti me of such termination. 5. A provision that to the group or class thereof originally insured shall be added, from time to time, all new employees of the employer eligible to insurance in such group or class. Except as provided in this chapter it shall be unlawful to make a contract of life insurance covering a group in the District. Policies of group life insurance, when issued in the District by any company not or ganized under the laws of the District m ay contain, when issued, any provision required by the law of the State or Terri- tory or District of the United States under which the company is organized ; and policies issued in the several States or countries, by companies organized in the District, may contain any provision required by the laws of the District, Territory, State, or country in which the same are issued, anything in this section to the contrary notwithstanding. Any such policy may be issued or delivered in the District which, in the opinion of the Superintendent, contains pro- visions on any one or more of the several foregoing requirements more favorable to the employer or to the employee than hereinbefore required. SEC. 12. STANDARD PROVISIONS FOR ACCIDENT AND HEALTH POLICIES .- (a) On and after the 1st day of January next following the passage and approval of this Act no policy of insurance against loss or damage from sickness, or bodily injury or death of t he insured by accide nt, sha ll be issued or deli vered to any person in the Distri ct by any company organized under this, or any other law of the District,