Oregon Administrative Rules
Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION
Division 51 - LIFE, INDIVIDUAL AND GROUP; ANNUITIES
Section 836-051-0350 - Waiver of Premium
Universal Citation: OR Admin Rules 836-051-0350
Current through Register Vol. 63, No. 12, December 1, 2024
(1) An insurer may offer a waiver of premium as part of the accelerated benefit provision in the absence of a regular waiver of premium provision.
(2) When an accelerated benefit is included in an individual term policy or an individually-paid group certificate, the accelerated benefit provision must include a waiver of premium provision for any remaining face amount.
(3) A term rider shall not be affected by the payment of the accelerated benefit if premiums continue to be paid for the rider.
Stat. Auth.: ORS 731.244 & ORS 743.154
Stats. Implemented: ORS 743.154
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