Or. Admin. Code § 836-051-0350

Current through Register Vol. 63, No. 12, December 1, 2024

Section 836-051-0350 - Waiver of Premium

(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.

Or. Admin. Code § 836-051-0350

ID 8-1992, f. 5-26-92, cert. ef. 6-1-92; ID 1-1996, f. & cert. ef. 1-12-96

Stat. Auth.: ORS 731.244 & ORS 743.154

Stats. Implemented: ORS 743.154