KRS 304.15-280: Prohibited provisions.

(1) No life insurance policy, other than industrial life insurance, shall be delivered or

issued for delivery in this state, if it contains any of the following provisions:

(a) A provision by which the policy purports to be issued or to take effect more

than one (1) year before the original application for the insurance was made.

(b) A provision for any mode of settlement at maturity of the policy of less value

than the amount insured under the policy, plus dividend additions, if any, less

any indebtedness to t he insurer on or secured by the policy and less any

premium that may by the terms of the policy be deducted.

(c) A provision to the effect that the agent soliciting the insurance is the agent of

the person insured under the policy, or making the acts or re presentations of

such agents binding upon the person so insured under the policy.

(2) No industrial life insurance policy shall be delivered or issued for delivery in this

state if it contains any of the following provisions:

(a) A provision by which the i nsurer may deny liability under the policy for the

reason that the insured has previously obtained other insurance from the same

insurer.

(b) A provision giving the insurer the right to declare the policy void because the

insured has had any disease or ail ment, whether specified or not, or because

the insured has received institutional, hospital, medical or surgical treatment

or attention, except a provision which gives the insurer the right to declare the

policy void, either before or after claim, if befor e the date of issue of the

policy the insured had any one (1) or more of such serious diseases or ailments

as is specified in such provision, or if the insured has, within two (2) years

prior to the issuance of the policy, received institutional, hospital, medical or

surgical treatment or attention and if the insured or claimant under the policy

fails to show, by the clear preponderance of the evidence, that the specified

disease or ailment, or the condition occasioning such treatment or attention,

was not material to the risk.

(c) A provision giving the insurer the right to declare the policy void because the

insured has been rejected for insurance, unless such right be conditioned upon

a showing by the insurer that knowledge of such rejection would have le d to a

refusal by the insurer to make such contract.

(3) No insurer shall provide in any policy, certificate, contract or agreement of life

insurance for the payment of any insurance, indemnity or benefit in services, goods,

wares or merchandise of any kind.