Oregon Department of Consumer and Business Services, Insurance Regulation

Rule Rule 836-051-0015
Disclosure Requirements


An insurer shall provide to each prospective buyer of life insurance a Buyer’s Guide and a Policy Summary prior to accepting the applicant’s initial premium or premium deposit, except that if the policy for which application is made contains an unconditional refund provision effective for at least ten days or if the Policy Summary contains such an unconditional refund provision, the Buyer’s Guide and Policy Summary must be delivered with the policy or prior to delivery of the policy.


An insurer shall provide a Buyer’s Guide and a Policy Summary to any prospective buyer upon request of the prospective buyer.


In the case of policies for which the Equivalent Level Death Benefit does not exceed $5,000, the Policy Summary need include only the information described in the items in OAR 836-051-0010 (Definitions)(8)(b), (c), (d), (e)(A), (e)(B), (e)(C), (f), (g), (j), and (k).

Last accessed
Jun. 8, 2021