OK SB1721

Amends Oklahoma health insurance law (36 O.S. 2001, Section 4405) regarding the "Time Limit on Certain Defenses" provision in accident and health policies

Eliminates the two-year time limit for insurers to raise defenses based on misstatements in applications, but preserves the ability to deny claims based on willfully fraudulent misstatements

Changes language to allow defenses for fraudulent misstatements to apply at any time (no time limit), while other misstatements lose defensibility after the initial coverage period

Becomes effective November 1, 2010