§ 83-7-27. Separate accounts to fund pension or profit sharing plans or to provide for life insurance or annuities
Any domestic life insurance company may establish one (1) or more separate accounts, and may allocate thereto amounts (including without limitation proceeds applied under optional modes of settlement or under dividend options) to fund pension or profit sharing plans or to provide for life insurance or annuities (and benefits incidental thereto), payable in fixed or […]
§ 83-7-29. Investment of amounts allocated to separate accounts
Except as may be provided with respect to reserves for guaranteed benefits and funds referred to in subsection (2) of this section: amounts allocated to any separate account and accumulations thereon may be invested and reinvested without regard to any requirements or limitations prescribed by the laws of this state governing the investments of life […]
§ 83-7-31. Crediting of income or charging of losses on separate accounts
The income, gains and losses, realized or unrealized, from assets allocated to a separate account shall be credited to or charged against the account without regard to other income, gains or losses of the company.
§ 83-7-33. Valuation of assets allocated to separate accounts
Unless otherwise approved by the commissioner of insurance, assets allocated to a separate account shall be valued at their market value on the date of valuation, or if there is not readily available market, then in accordance with the terms of the contract or the rules or other written agreement applicable to such separate account; […]
§ 83-7-35. Ownership of amounts allocated to separate accounts
The amounts allocated to a separate account in the exercise of the power granted by Sections 83-7-27 through 83-7-49 shall be owned by the company, and the company shall not be, or hold itself out to be, a trustee with respect to such amounts. To the extent so provided under the applicable contracts, that portion […]
§ 83-7-7. Policy beneficiary designations of trustees
Life insurance may be made payable to a trustee to be named as beneficiary in the policy and the proceeds of such insurance shall be paid to such trustee and shall be held and disposed of by the trustee as provided in a trust agreement made by the insured during his lifetime. It shall not […]
§ 83-7-9. Assignment of group life insurance policy
Subject to the terms of the policy or pursuant to an agreement between the insured, the group policyholder, and the insurer, any person insured under a group life insurance policy may make to any other person, other than the policyholder, an assignment of all or any part of the incidents of ownership conferred on him […]
§ 83-7-11. Penalty for false statement as to publication
Any solicitor, agent, examining physician, or other person who shall knowingly or wilfully make any false or fraudulent statement or representation in or with reference to any publication for insurance, or who shall make any such statement for the purpose of obtaining fee, commission, money, or benefit in any corporation transacting business under this chapter, […]
§ 83-7-13. Application of insured to be filed with policy of insurance
All life insurance companies doing business in the State of Mississippi shall deliver to the insured with the policy, certificate, or contract of insurance in any form a copy of the insured’s application; and in default thereof, said life insurance company shall not be permitted in any court of this state to deny that any […]
§ 83-7-15. Misstatement of age not to invalidate policy
Any misstatement of age in any policy, certificate, or contract of life insurance in any form shall not invalidate said policy, certificate, or contract of life insurance; but in such a case when a loss occurs, the beneficiaries shall recover on said policy, certificate, or contract of insurance such an amount of insurance as the […]