§ 4510. Life insurance certificates; required and prohibited\nprovisions. (a) No certificate or other evidence of a life insurance\ncontract shall be delivered or issued for delivery in this state by any\nauthorized society unless it contains in substance the following\nprovisions, or provisions which in the opinion of the superintendent are\nmore favorable to the insured members, except that such provisions as\nare not applicable to single premium or term life insurance shall to\nthat extent not be incorporated in such certificate or contract:\n (1) For certificates in which the amount and frequency of premiums may\nvary, a provision that, after payment of the first premium, the insured\nis entitled to a grace period of not less than sixty-one days, beginning\non the day when the fraternal benefit society determines that the\ncertificate's net cash surrender value is insufficient to pay the total\ncharges necessary to keep the certificate in force for one month from\nthat day within which to pay sufficient premium to keep the policy in\nforce for three months from the date the insufficiency was determined.\nDuring such grace period the certificate shall continue in full force,\nbut in case the certificate becomes a claim, on account of death,\nmaturity or other benefit accrued during such grace period before an\namount of premium sufficient to keep the certificate in force is paid,\nan amount of premium sufficient to keep the policy in force until the\nday the certificate became a claim may be deducted from any amount\npayable in any settlement under the certificate. For all other\ncertificates, a provision that the insured is entitled to a grace period\nof not less than one month or thirty days within which the payment of\nany premium after the first may be made, and that during such grace\nperiod the certificate shall continue in full force, but in case the\ncertificate becomes a claim, on account of death, maturity or other\nbenefit accrued during such grace period before the overdue premiums are\npaid, the amount of such premium or premiums may be deducted from any\namount payable in any settlement under the certificate.\n (2) A provision that the certificate shall be incontestable after it\nhas been in force during the lifetime of the insured member for a period\nof two years from its date of issue, and, if a certificate provides that\nthe death benefit provided by the certificate may be increased, or other\ncertificate provisions changed, upon the application of the certificate\nholder and the production of evidence of insurability, a provision that\nthe certificate with respect to each such increase or change shall be\nincontestable after two years from the effective date of such increase\nor change, except in each case for (i) non-payment of premiums, and (ii)\nviolation of the provisions of the certificate relating to military or\nnaval service, and, at the option of the society, (iii) provisions\nrelating to benefits in the event of total and permanent disability, and\n(iv) provisions which grant additional insurance against death by\naccident or accidental means.\n (3) A provision that if it shall be found at any time before final\nsettlement under the certificate that the age of the insured (or the age\nof the beneficiary, if considered in determining the premium) has been\nmisstated, and the discrepancy and the premium payment involved have not\nbeen adjusted, the amount payable under the certificate shall be such as\nthe premium would have purchased at the correct age, except that if the\ncorrect age was not an insurable age under the society's charter,\nconstitution or by-laws, and such charter, constitution or by-laws so\nprovide, only the net mortuary payments made thereunder shall be\nreturned or, at the option of the society, the amount payable under the\ncertificate shall be such as the premium would have purchased at the\ncorrect age according to the society's promulgated rates and any\nextension ther
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