Wisconsin Administrative Code
Office of the Commissioner of Insurance
Chapter Ins 3 - Casualty Insurance
Section Ins 3.30 - Change of beneficiary and related provisions in accident and sickness insurance policies
Universal Citation: WI Admin Code ยง Ins 3.30
Current through August 26, 2024
(1) PURPOSE. The purpose of this rule is to establish guidelines for wording change of beneficiary provisions and related provisions in accident and sickness insurance policies.
(2)SCOPE. This rule shall apply to policy forms subject to s. Ins 6.75(1) (c) or (2) (c) and s. 600.03(4), (22) and (23), Stats.
(3)GUIDELINES. A change of beneficiary provisions and any related provision:
(a)
Shall comply with s.
632.71,
Stats., except as provided in ss.
631.81 and
632.77(4),
Stats., where applicable, and
(b)
May include requirements or limitations which would be consistent with an
orderly method of handling beneficiary designations and changes such as:
1. A requirement that a beneficiary
designation or change be recorded by the insurer;
2. A provision that a claim payment made
before a change in beneficiary designation is recorded is not subject to such
change;
3. A requirement that a
beneficiary designation or change be written as opposed to oral; or
4. A requirement that a beneficiary
designation or change be given to a particular agent, representative or
office.
Disclaimer: These regulations may not be the most recent version. Wisconsin may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
This site is protected by reCAPTCHA and the Google
Privacy Policy and
Terms of Service apply.
