Minnesota Legislature
Office of the Revisor of Statutes
2006 Minnesota Statutes
This is an historical version of this statute chapter. Also view the most recent published version.
62A.08 COVERAGE OF POLICY, CONTINUANCE IN FORCE.
If any such policy contains a provision establishing, as an age limit or otherwise, a date after
which the coverage provided by the policy will not be effective, and if such date falls within a
period for which premium is accepted by the insurer or if the insurer accepts a premium after such
date, the coverage provided by the policy will continue in force subject to any right of cancellation
until the end of the period for which premium has been accepted. In the event the age of the insured
has been misstated and if, according to the correct age of the insured, the policy would not have
been issued, the insurer may, within 90 days of discovering the misstatement, limit its liability to a
refund of all premiums paid. In all other instances the insurer may either adjust the premium to
reflect the actual age of the insured or adjust the benefits to reflect the actual age and the premium.
History: 1967 c 395 art 3 s 8; 1989 c 330 s 11
If any such policy contains a provision establishing, as an age limit or otherwise, a date after
which the coverage provided by the policy will not be effective, and if such date falls within a
period for which premium is accepted by the insurer or if the insurer accepts a premium after such
date, the coverage provided by the policy will continue in force subject to any right of cancellation
until the end of the period for which premium has been accepted. In the event the age of the insured
has been misstated and if, according to the correct age of the insured, the policy would not have
been issued, the insurer may, within 90 days of discovering the misstatement, limit its liability to a
refund of all premiums paid. In all other instances the insurer may either adjust the premium to
reflect the actual age of the insured or adjust the benefits to reflect the actual age and the premium.
History: 1967 c 395 art 3 s 8; 1989 c 330 s 11
Official Publication of the State of Minnesota
Revisor of Statutes