Oregon Department of Consumer and Business Services, Insurance Regulation

Rule Rule 836-051-0920
Report to Contract Owners


(1)

For an annuity in the payout period with changes in non-guaranteed elements and for the accumulation period of a deferred annuity, the insurer shall provide each contract owner with a report, at least annually, on the status of the contract that contains at least the following information:

(a)

The beginning and end date of the current report period.

(b)

The accumulation and cash surrender value, if any, at the end of the previous report period and at the end of the current report period.

(c)

The total amounts, if any, that have been credited, charged to the contract value or paid during the current report period; and

(d)

The amount of outstanding loans, if any, as of the end of the current report period.

(2)

For a deferred annuity with only guaranteed elements and no cash surrender value during the accumulation period, the insurer shall provide each contract owner with a report, at least annually, on the status of the contract that contains at least the following information:

(a)

The beginning and end date of the current report period.

(b)

The selected annuitization date, including any time restraints for changing the annuitization date.

(c)

The selected annuitization option, including any time restraints for changing to another option.

(d)

Any additional benefit values, such as the death benefit and any optional access to cash values.
Source

Last accessed
Jun. 8, 2021