40-413. Death of beneficiary in policy; duties of insurance company. - Kansas Statutes

40-413

Chapter 40.--INSURANCE Article 4.--GENERAL PROVISIONS RELATING TO LIFE INSURANCE COMPANIES

      40-413.   Death of beneficiary in policy; duties of insurance company. In case any life insurance company organized under the laws of thisstate shall have issued or may hereafter issue any policy of insurance uponthe life of any person or persons for another's benefit in which the rightto change the beneficiary is not reserved, and such beneficiary dies duringthe lifetime of the person or persons whose life or lives are insured bysuch insurance policy or policies, it shall be lawful for such company toreceive from the person or persons whose lives are insured an affidavitsetting forth the facts in the case; and if it shall appear from suchaffidavit that the affiants have theretofore paid the annual premium onsuch policy or policies, and intended thereby to insure for the benefit ofthe person or persons named in such policy or policies as beneficiary, thatsuch person or persons are dead, and that such policy or policies have notbeen assigned or transferred to any person or persons, and nominating orappointing some other person or persons as beneficiary in place of suchdeceased in such policy or policies named, it shall then be the duty ofsuch insurance company to take up and cancel such policies, at the requestof the assured, and issue in like terms another policy or policies upon thelife or lives of such insured for the benefit of the beneficiary in suchaffidavit nominated.

      History:   L. 1927, ch. 231, 40-413; June 1.