OAR 836-051-0320
Payment Options; Filing of Claims; Remaining Benefits


(1)

An insurer shall include among payment options for the accelerated benefit an option that allows the policy owner or certificate holder to take the benefit as a lump sum. The insurer shall not make the benefit available as an annuity contingent upon the life of the insured.

(2)

An insurer shall not impose any restriction on the use of the proceeds.

(3)

If any death benefit remains after payment of an accelerated benefit, any accidental death benefit that is part of the policy shall not be affected by the payment of the accelerated benefit. Any other benefits in force at the time of acceleration shall not be affected by the payment of the accelerated benefit if premiums continue to be paid for those benefits.

Source: Rule 836-051-0320 — Payment Options; Filing of Claims; Remaining Benefits, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=836-051-0320.

836‑051‑0005
Statutory Authority
836‑051‑0010
Definitions
836‑051‑0015
Disclosure Requirements
836‑051‑0020
General Requirements
836‑051‑0030
Purpose and Applicability
836‑051‑0032
Definition
836‑051‑0034
Exemptions
836‑051‑0036
Disclosure Requirements
836‑051‑0038
Insurer Duties
836‑051‑0040
Trade Practice Regulation
836‑051‑0101
Statutory Authority
836‑051‑0106
Life Insurance Valuation and Nonforfeiture Standards
836‑051‑0110
Life Insurance Nonforfeiture Standards for Men and Women
836‑051‑0115
Smoker/Nonsmoker Mortality Tables
836‑051‑0150
Individual Deferred Annuities Surrender Charge
836‑051‑0153
Limitations on Surrender Charge Scales
836‑051‑0156
Fair Surrender Charges
836‑051‑0200
Authority
836‑051‑0210
Purpose
836‑051‑0220
Definitions
836‑051‑0230
Individual Annuity or Pure Endowment Contracts
836‑051‑0235
Application of the 2012 IAR Mortality Table
836‑051‑0240
Group Annuity or Pure Endowment Contracts
836‑051‑0250
Application of the 1994 GAR Table
836‑051‑0300
Statutory Authority
836‑051‑0310
Acknowledgement of Concurrence for Payout from Assignee or Beneficiary
836‑051‑0320
Payment Options
836‑051‑0330
Disclosure
836‑051‑0340
Exercise of the Accelerated Benefit
836‑051‑0350
Waiver of Premium
836‑051‑0360
Discrimination
836‑051‑0370
Minimum Benefit Standards
836‑051‑0380
Actuarial Disclosure and Reserves
836‑051‑0500
Purpose
836‑051‑0510
Applicability and Scope
836‑051‑0520
Definitions
836‑051‑0530
Policies to Be Illustrated
836‑051‑0540
General Rules and Prohibitions
836‑051‑0550
Standards for Basic Illustrations
836‑051‑0560
Standards for Supplemental Illustrations
836‑051‑0570
Delivery of Illustration and Record Retention
836‑051‑0580
Annual Report
836‑051‑0590
Annual Certifications
836‑051‑0600
Trade Practice Regulation
836‑051‑0700
Authorization, Genetic Testing
836‑051‑0750
Purpose
836‑051‑0755
Definitions
836‑051‑0760
Minimum Valuation Mortality Standards
836‑051‑0765
Minimum Valuation Interest Rate Standards
836‑051‑0770
Minimum Valuation Method Standards
836‑051‑0775
Transition Rules
836‑051‑0900
Purpose
836‑051‑0905
Applicability and Scope
836‑051‑0910
Definitions
836‑051‑0915
Standards for the Disclosure Document and Buyer’s Guide
836‑051‑0920
Report to Contract Owners
836‑051‑0925
Trade Practice Regulation
Last Updated

Jun. 8, 2021

Rule 836-051-0320’s source at or​.us