Nothing in AS 21.36.090, 21.36.100, and AS 21.54.100 may be construed as including within the definition of discrimination or rebates any of the following practices:

(1) in the case of a contract of life insurance or life annuity, paying bonuses to policyholders or otherwise abating their premiums in whole or in part out of surplus accumulated from nonparticipating insurance, if the bonuses or abatement of premiums is fair and equitable to policyholders and for the best interests of the insurer;

(2) in the case of a life insurance policy issued on industrial debit, preauthorized check, bank draft, or similar plans, making allowance to policyholders who have made premium payments directly to an office of the insurer or by preauthorized debit, check, bank draft, or similar plan, in an amount that fairly represents the saving in collection expense;

(3) readjustment of the rate of premium for a group insurance policy based on the loss or expense experience thereunder, at the end of the first or a subsequent policy year of insurance thereunder, which may be made retroactive only for that policy year;

(4) issuance of life or health insurance policies or annuity contracts at rates less than the usual rates of premiums for the policies or contracts, or modification of premium or rate based on amount of insurance; but the issuance or modification may not result in reduction in premium or rate in excess of savings in administration and issuance expenses reasonably attributable to the policies or contracts;

(5) a reward under a wellness program established under a health care plan that favors an individual if the wellness program meets the following requirements:

(A) the wellness program is reasonably designed to promote health or prevent disease;

(B) an individual has an opportunity to qualify for the reward at least once a year;

(C) the reward is available for all similarly situated individuals;

(D) the wellness program has alternative standards for individuals who are unable to obtain the reward because of a health factor;

(E) alternative standards are available for an individual who is unable to participate in a reward program because of a health condition;

(F) the insurer provides information explaining the standard for achieving the reward and discloses the alternative standards; and

(G) the total rewards for all wellness programs under the health insurance policy do not exceed 20 percent of the cost of coverage.