WILLIAM DONALD SCHAEFER, Governor                    Ch. 495

(4)  Death within [two (2)] 2 years from the date of
issue of the policy while the insured is resident outside
continental United States of America and Canada;

(5)  Death within [two (2)] 2 years from the date of
issue of the policy as a result of suicide, while sane or insane.

(b)  A policy which contains any exclusion or restriction
pursuant to subsection (a) of this section shall also provide
that in the event of death under the circumstances to which any
such exclusion or restriction is applicable, the insurer will pay
a determinable amount which in no event shall be less than the
reserve in accordance with the commissioners reserve valuation
method upon the basis of the mortality table and interest rate
specified in the policy for the calculation of nonforfeiture
benefits (or if the policy provides for no such benefits,
computed according to a mortality table and interest rate
determined by the insurer and specified in the policy), provided
such table and interest rate are acceptable as a standard for the
valuation of such policy in accordance with § 83 with adjustment
for indebtedness or dividend credit.

(c)  This section shall not apply to group life insurance,
reinsurance, or to any provision in a life insurance policy
relating to additional disability benefits or to additional
benefits in the event of death by accident or accidental means.

(d)  Nothing contained in this section shall prohibit any
provision which in the opinion of the Commissioner is more
favorable to the policyholder than a provision permitted by this
section.

(E) NOTWITHSTANDING ANY OTHER PROVISION OF LAW, IN ANY
NEWLY ISSUED POLICY OF LIFE INSURANCE, THE 2-YEAR EXCLUSION FOR
DEATH AS A RESULT OF SUICIDE PERMITTED IN SUBSECTION (A) SHALL
BE DEEMED TO HAVE COMMENCED ON THE DATE ON WHICH THE THAT INSURER
ISSUING THE NEW POLICY FIRST ISSUED A LIFE INSURANCE POLICY TO
THE INSURED, EXCEPT THAT:

(1) IF THE INSURED DOES NOT LAPSE, FORFEIT, SURRENDER
OR OTHERWISE TERMINATE THE PRIOR POLICY WITHIN 12 MONTHS AFTER
THE ISSUANCE OF THE NEW POLICY OR IF THE INSURED LAPSES,
FORFEITS, SURRENDERS OR OTHERWISE TERMINATES THE IMMEDIATELY
PRIOR POLICY MORE THAN 6 MONTHS BEFORE THE ISSUANCE OF THE NEW
POLICY, THE 2-YEAR EXCLUSION FOR DEATH AS A RESULT OF SUICIDE MAY
COMMENCE ON THE DATE OF ISSUE OF THE NEW POLICY; AND

(1) THE EXCLUSION FOR DEATH AS A RESULT OF SUICIDE
MAY COMMENCE ON THE DATE OF ISSUE OF THE NEW POLICY IF THE PRIOR
POLICY TERMINATES:-----------------------------------------------------

(I) BEFORE THE PATE OF ISSUE OF THE NEW POLICY;
OR

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