Oregon Department of Consumer and Business Services, Insurance Regulation

Rule Rule 836-051-0510
Applicability and Scope


(1)

OAR 836-051-0500 (Purpose; Authority) to 836-051-0600 (Trade Practice Regulation) 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 (Purpose; Authority) to 836-051-0600 (Trade Practice Regulation) 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 (Purpose; Authority) to 836-051-0600 (Trade Practice Regulation) prior to that date.
Source

Last accessed
Jun. 8, 2021