376.500. Discriminations, rebates and favors prohibited--contracts to conform to policy. - Missouri Statutes

Discriminations, rebates and favors prohibited--contracts to conformto policy.

376.500. No life insurance company doing business in thisstate shall make or permit any distinction or discrimination infavor of individuals between insurants (the insured) of the sameclass and equal expectations of life in the amount or payment ofpremiums or rates charged for policies of life or endowmentinsurance, or in the dividends or other benefits payable thereon,or in any other of the terms and conditions of the contracts itmakes; nor shall any such company, or agent thereof, make anycontract of insurance or agreement as to such contract other thanas plainly expressed in the policy issued thereon; nor shall anysuch company, or any officer, agent, solicitor or representativethereof, pay, allow or give, or offer to pay, allow or give,directly or indirectly, as inducement to insurance, any rebate ofpremium payable on the policy, or any special favor or advantagein the dividends or other benefits to accrue thereon, or any paidemployment or contract for services of any kind, or any valuableconsideration or inducement whatever, not specified in the policycontract of insurance; or give, sell or purchase, or offer togive, sell or purchase, as inducement to insurance or inconnection therewith, any stocks, bonds or other securities ofany insurance company or other corporation, association, orpartnership, or any dividends or profits to accrue thereon, oranything of value whatsoever. The provisions of this sectionshall also apply to all companies incorporated under theprovisions of sections 377.200 to 377.460, RSMo.

(RSMo 1939 § 5840, A.L. 1965 p. 95) Prior revisions: 1929 § 5729; 1919 § 6139; 1909 § 6934