Wisconsin Statutes

Wis. Stat. § 632.44 (2026)

Required provisions in life insurance

✓ current as of July 2026

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632.44632.44 Required provisions in life insurance.

632.44(1)(1) Separate benefits. Every life insurance policy shall specify separately each benefit promised in the policy.

632.44(2)(2) Grace period. Every life insurance policy other than a group policy shall contain a provision entitling the policyholder to a grace period of not less than 31 days for the payment of any premium due except the first, during which the death benefit shall continue in force.

632.44(3)(3) Credit life.

632.44(3)(a)(a) Individual credit life insurance policies shall be for nonrenewable, nonconvertible, term insurance. This restriction does not apply when evidence of insurability is required nor when the credit transaction is for more than 5 years.

632.44(3)(b)(b) When the insured debtor has paid or has made an obligation to pay all or any part of the premium under an individual credit life insurance policy, the total charge to the debtor shall be shown in the policy issued to the insured debtor. However, the rate of charge to the debtor rather than the total charge may be shown where the indebtedness is variable from period to period and the premium is computed periodically on the outstanding balance. The policy shall contain provision for cancellation of insurance upon termination of indebtedness through prepayment and shall provide for a refund of any unearned charge to the debtor, computed on a formula filed with the commissioner.

632.44(3)(c)(c) The insurer shall fully control and be responsible for the settlement or adjustment of all claims.

632.44 HistoryHistory: 1975 c. 375, 421.

632.44 Cross-referenceCross-reference: See also ss. Ins 2.05, 3.25, and 3.26, Wis. adm. code.

Notes of Decisions

Cited in 1 case, 2003–2003 · leading case: Fox Ex Rel. Fricker v. Catholic Knights Ins. Soc'y, 2003 WI 87 (Wis. 2003).

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Fox Ex Rel. Fricker v. Catholic Knights Ins. Soc'y, 2003 WI 87 (Wis. 2003). · cites it 4× “For example, Wis. Stat. § 632.44 (2) requires that every life insurance policy, except group policies, "contain a provision entitling the policyholder to a grace period of *224 not less than 31 days for the payment of any premium due except the first, during which the death…”

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