58-15-105. Request for information about beneficiaries.
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/sd/title-58/chapter-58-15/58-15-105·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
At no later than the policy delivery or the establishment of an account, and upon any change of insured or beneficiary, an insurer shall request information sufficient to ensure that all benefits or proceeds are distributed to the appropriate persons upon the death of the insured including, at a minimum, the name, address, date of birth, social security number, and telephone number of each insured and beneficiary of a policy or account, as applicable.
If an insurer issues a policy or provides an account based on information received directly from an insured's employer, the insurer may obtain the beneficiary information by communicating with the insured after the insurer's receipt of the information from the insured's employer.