OAR 836-051-0530
Policies to Be Illustrated

(1)

An insurer shall identify each life insurance policy form filed with the Director on or after July 1, 1997, that will be marketed with an illustration. For informational purposes, the insurer shall file with the policy form filing a sample illustration in John Doe format to match a John Doe policy. Approval of a policy form filing will not be given until the Director has received the informational sample illustration. The insurer shall also identify in writing each policy form being actively marketed on July 1, 1997, with which an illustration is being or will be used. Any decision to market with an illustration or not may be changed by notice to the Director.

(2)

If an insurer does not identify a policy form as one to be marketed with an illustration, any use of an illustration for any policy using that form prior to the first policy anniversary is prohibited.

(3)

If a policy form is identified by the insurer as one to be marketed with an illustration, a basic illustration prepared and delivered in accordance with OAR 836-051-0500 (Purpose; Authority) to 836-051-0600 (Trade Practice Regulation) is required, except that a basic illustration need not be provided to individual members of a group or to individuals insured under multiple lives coverage issued to a single applicant unless the coverage is marketed to these individuals. The illustration furnished an applicant for a group life insurance policy or policies issued to a single applicant on multiple lives may be either an individual or composite illustration representative of the coverage on the lives of members of the group or the multiple lives covered.

(4)

Potential enrollees of non-term group life insurance subject to OAR 836-051-0500 (Purpose; Authority) to 836-051-0600 (Trade Practice Regulation) shall be furnished a quotation as described in this section with the enrollment materials. The quotation shall show potential policy values for sample ages and policy years on a guaranteed and non-guaranteed basis appropriate to the group and the coverage. This quotation shall not be considered an illustration for purposes of 836-051-0500 (Purpose; Authority) to 836-051-0600 (Trade Practice Regulation), but all information provided shall be consistent with the illustrated scale. A basic illustration shall be provided at delivery of the certificate to enrollees for non-term group life who enroll for more than the minimum premium necessary to provide pure death benefit protection. In addition, the insurer shall make a basic illustration available to any non-term group life enrollee who requests it.

Source: Rule 836-051-0530 — Policies to Be Illustrated, https://secure.­sos.­state.­or.­us/oard/view.­action?ruleNumber=836-051-0530.

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 836-051-0530’s source at or​.us