(1) TYPES OF POLICIES PERMITTED. Subject to sub. (2), the life fund may issue to any resident of the state any kind of life insurance with any riders or endorsements thereto that would be filed with the commissioner for issuance by private insurers authorized to do a life insurance business in this state. Coverages may be combined and granted in the same policy by the life fund to the same extent as by a private life insurer.
(2) LIMITS ON POLICIES FROM FUND. No policies may be issued on any one risk exceeding $10,000 for residents of this state.