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KANSAS LIFE & HEALTH
Addendum: for use with Kansas Life & Health online ExamFX courses and study guides version #20246en (Life) and #20247en (Health), per exam content outline update effective 10/15/18.
The following are content additions to supplement your existing text unless otherwise indicated:
Kansas Statutes, Rules and Regulations Pertinent to Life Insurance Only
Provisions – Minimum Values
The minimum values of any paid-up annuity, cash surrender or death benefits available under an annuity contract must be based upon minimum nonforfeiture amounts as defined in state statutes.
The minimum nonforfeiture amount at any time at or before annuity payments may begin must be equal to an accumulation at specified rates of interest up to the time of payouts. The interest rate used in determining minimum nonforfeiture amounts must be an annual rate determined as the lesser of 3% per year or the rate specified in the annuity contract that will be reset throughout the life of the contract.
Kansas Statutes, Rules and Regulations Pertinent to Health Insurance Only
A. Individual and Group Accident and Health Policy Clauses and Provisions
Grace Period (Individual Accident and Health)
Individual accident and health insurance policies issued in Kansas must contain a grace period provision allowing the policyowner a specified number of days for the payment of each premium after the due date. The required time periods are the same as per NAIC uniform provisions for health insurance policies: 7 days for weekly premium policies, 10 days for monthly, and 31 days for all other policies.
If a policy contains a cancellation provision, the insurer may stipulate at the end of the grace period provision that the policy may be subject to the right of the insurer to cancel in accordance with the cancellation provision.
KANSAS PROPERTY & CASUALTY
Addendum: for use with Kansas Property & Casualty online ExamFX courses and study guides version #20368en (Property) and #20369en (Casualty), per exam content outline update effective 10/15/18.The following are content additions to supplement your existing text unless otherwise indicated:
Kansas Statutes, Rules and Regulations Common to Property and Casualty Insurance Only
Delivery of Contracts
Any notice to parties to a contract that is to serve as evidence of insurance coverage may be delivered, stored, and presented by electronic means as long as it meets the requirements established by the Kansas Insurance Code.
Delivery of a notice will be considered equivalent to any delivery method required under applicable law, including delivery by first class mail, postage prepaid, certified mail, certificate of mail, or certificate of mailing.
A notice may be delivered electronically by an insurer as long as the receiving party has affirmatively consented to that method of delivery and has not withdrawn the consent, and has been informed of the requirements for accessing the notice delivered by electronic means.