Or. Admin. Code § 836-051-0510

Current through Register Vol. 63, No. 11, November 1, 2024

Section 836-051-0510 - Applicability and Scope

(1) OAR 836-051-0500 to 836-051-0600 apply to all group life insurance policies and certificates and all individual life insurance policies except:

(a) Variable life insurance;

(b) Individual and group annuity contracts;

(c) Credit life insurance;

(d) Life insurance policies with an illustrated death benefit that does not exceed $10,000 on any individual; and

(e) Group term life insurance policies.

(2) OAR 836-051-0500 to 836-051-0600 apply to life insurance policies described in section (1) of this section that are sold on or after July 1, 1997. An insurer may conform its policies to the provisions of OAR 836-051-0500 to 836-051-0600 prior to that date.

Or. Admin. Code § 836-051-0510

ID 5-1997, f. 5-27-97, cert. ef. 7-1-97

Stat. Auth.: ORS 731.244 & 746.240

Stats. Implemented: ORS 746.075, 746.085, 746.100, 746.110 & 746.240