Current through Register Vol. 54, No. 37, September 14, 2024
Section 90d.5 - Termination of coverageThe form discloses the conditions under which the coverage terminates.
(1) The following conditions are disclosed if the benefit is provided by a rider: (i) Written request from the owner for termination.(ii) Termination of the policy.(iii) Nonpayment of premium.(2) The following termination conditions are disclosed if applicable: (i) Attainment of a stated age not younger than 60.(ii) When a policy nonforfeiture option takes effect. This complies with § 89.42(e) (relating to nonforfeiture value requirements). Alternatively, this termination condition is disclosed in the policy.(3) The following termination condition is not present: receipt of benefits under a waiver of premium disability benefit or another kind of disability benefit.