Except as provided in section 813 of this title, no such policy delivered or issued for delivery to any person in this territory shall contain provisions respecting the matters set forth in sections 868–878, inclusive, of this title, unless such provisions are in the words in which the same appear in the applicable section; except, that the insurer may, at its option, use in lieu of any such provision a corresponding provision of different wording approved by the Commissioner which is not less favorable in any respect to the insured or the beneficiary. Any such provision contained in the policy shall be preceded individually by the appropriate caption or, at the insurer's option, by such appropriate individual or group caption or subcaption as the Commissioner may approve.