Missouri Code of State Regulations
Title 20 - DEPARTMENT OF COMMERCE AND INSURANCE
Division 400 - Life, Annuities and Health
Chapter 1 - Life Insurance and Annuity Standards
Section 20 CSR 400-1.140 - Policies and Contracts Subject to Section 376.678, RSMo-Notice Requirements
Current through Register Vol. 48, No. 18, September 15, 2023
PURPOSE: This rule defines individual whole life policy and individual deferred annuity contract as used in section 376.678, RSMo, sets forth the conditions under which the notice requirements of section 376.678, RSMo, are satisfied and specifies the policies and contracts which are subject to section 376.678, RSMo. This rule is promulgated pursuant to sections 374.045 and 376.678, RSMo.
(2) All life insurance companies doing business in this state shall furnish, at least annually, to each individual whole life or deferred annuity policyholder the required notice defined in subsection (1)(C).
(3) The notice requirements are not applicable to-
(4) The annual notification requirements will be satisfied if the required information is sent by first class mail to the policy or contract holder's last known mailing address. Preauthorized banking arrangements are exempt from the notice requirements if the preauthorization agreement contains the information required by this rule, the premiums for the policy or contract are payable on a frequency of annually or less and the insurer has received payment on the policy or contract in the last twelve (12)-month period.
AUTHORITY: sections 374.045, RSMo 1986 and 376.678, RSMo Supp. 1987.* This rule was previously filed as 4 CSR 190-13.280. Original rule filed Dec. 15, 1987, effective April 11 , 1988.
*Original authority: 374.045, RSMo 1967 and 376.678, RSMo 1987.