Department of Consumer and Business Services
Insurance Regulation - Chapter 836
Division 51
LIFE, INDIVIDUAL AND GROUP; ANNUITIES
836-051-0340
Exercise of the Accelerated Benefit
(1) For conditions of eligibility resulting from accident, an accelerated benefit provision must be exercisable on or after the issue date of the accelerated benefit provision.
(2) For conditions of eligibility resulting from illness, an accelerated benefit provision must be exercisable not later than the 30th day after the issued date of the accelerated benefit provision.
(3) For the purpose of defining the qualifying event described in ORS 743.154(2)(c), an insurer shall not require a period of continuous confinement that is greater than 180 days.
Statutory/Other Authority: ORS 731.244 & 743.154
Statutes/Other Implemented: ORS 743.154
History:
ID 8-1992, f. 5-26-92, cert. ef. 6-1-92