§33-13-21. Same -- Misstatement of age or sex.
In an annuity or pure endowment contract, other than a
reversionary, survivorship, or group annuity, there shall be a
provision that if the age or sex of the person or persons upon
whose life or lives the contract is made, or of any of them, has
been misstated, the amount payable or benefits accruing under the
contract shall be such as the stipulated payment or payments to
the insurer would have purchased according to the correct age or
sex; and that if the insurer shall make or has made any
overpayment or overpayments on account of any such misstatement,
the amount thereof with interest at the rate to be specified in
the contract but not exceeding six percent per annum, may be
charged against the current or next succeeding payment or
payments to be made by the insurer under the contract.