607.02 Scope of operation. (1) Types of policies permitted. Subject to sub. (2), the life fund may issue to any resident of the state any kind of life insurance with any riders or endorsements thereto that would be filed with the commissioner for issuance by private insurers authorized to do a life insurance business in […]
607.03 Nature of fund. Unless expressly provided otherwise, the life fund is subject as an insurer to chs. 600 to 646, except for chs. 610 to 618, 645, and 646, and is subject to all other laws applicable to insurers issuing life insurance, specifically including of the soldiers’ and sailors’ civil relief act of 1940, […]
607.04 Solicitation. The life fund may not employ agents or solicitors and may not pay commissions for the procuring of insurance applications. History: 1973 c. 117.
607.07 Examination and underwriting. (1) Medical examinations. No medical examination need be required on an application for a policy. The manager may require a medical examination or other medical information in accordance with usual practices in the life insurance business. An application for a policy shall be reviewed after all required medical information is provided […]
607.15 Surplus distribution. The net profits of the life fund shall be distributed annually among the policyholders, except that so far as is practicably possible, the ratio of surplus to assets shall be kept between 7 percent and 10 percent. History: 1973 c. 117.
607.21 Payments from life fund. In addition to the payments under s. 604.04 (3), and the payments which become due under its policies, the life fund shall pay: (1) A fee, to be determined by the manager, to the medical examiner for each medical examination made under s. 607.07 (1); (2) The actual expense of […]
607.22 Policy loans. (1) General. Loans may be made on a policy to an aggregate amount which, together with accumulated interest at rates to be fixed from time to time by the commissioner, and applicable to all policies then in force, does not exceed the cash surrender value on the next policy anniversary on the […]
