OAR 836-052-0500
Statutory Authority; Applicability
(1)
OAR 836-052-0500 (Statutory Authority; Applicability) to 836-052-0786 (Requirement to Deliver Shopper’s Guide) are adopted pursuant to the requirements and authority of ORS 731.244 (Rules),742.003 (Filing and approval of policy forms), 742.005 (Grounds for disapproval of policy forms), 742.023 (Contents of policies in general), 743.013, 743.655 (Rules), 743.656 (Eligibility for benefits) and 746.240 (Undefined trade practices injurious to public prohibited).(2)
Except as otherwise specifically provided, OAR 836-052-0500 (Statutory Authority; Applicability) to 836-052-0786 (Requirement to Deliver Shopper’s Guide) apply to all long term care insurance policies, including qualified long term care contracts and life insurance policies that accelerate benefits for long term care delivered or issued for delivery in this state by insurers, fraternal benefit societies, nonprofit health, hospital and medical service corporations, prepaid health plans, health maintenance organizations and all similar organizations.(3)
OAR 836-052-0500 (Statutory Authority; Applicability) to 836-052-0786 (Requirement to Deliver Shopper’s Guide) do not apply to a provision in a life insurance policy, rider or endorsement that provides accelerated death benefits in a single lump-sum upon the occurrence of a single qualifying event as defined in ORS 743.154 (Acceleration of death benefits).(4)
OAR 836-052-0500 (Statutory Authority; Applicability) to 836-052-0786 (Requirement to Deliver Shopper’s Guide) apply to policies having indemnity benefits that are triggered by activities of daily living and sold as disability income insurance if:(a)
The benefits of the disability income policy are dependent upon or vary in amount based on the receipt of long-term care services;(b)
The disability income policy is advertised, marketed or offered as insurance for long-term care services; or(c)
Benefits under the policy may commence after the policyholder has reached normal retirement age for Social Security unless benefits are designed to replace lost income or pay for specific expenses other than long-term care services.
Source:
Rule 836-052-0500 — Statutory Authority; Applicability, https://secure.sos.state.or.us/oard/view.action?ruleNumber=836-052-0500
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