(a) Any policy of a foreign or alien insurer, when delivered or issued for delivery to any person in this state, may contain any provision which is not less favorable to the insured or the beneficiary than the provisions of this chapter and which is prescribed or required by the law of the state or country under which the insurer is organized.
(b) When issued for delivery in any other state or country, any policy of a domestic insurer may contain any provision permitted or required by the laws of the other state or country.