California § 10110.5. 10110.5. (Amended by Stats. 2013, Ch. 345, Sec. 1.)

California Statutes

§ 10110.5. — 10110.5. (Amended by Stats. 2013, Ch. 345, Sec. 1.)

California·Code INS Insurance Code - INS·Div. 2. DIVISION 2. CLASSES OF INSURANCE·Part 2. PART 2. LIFE AND DISABILITY INSURANCE·Ch. 1. CHAPTER 1. The Contract·Art. 1. ARTICLE 1. General Provisions

(a)A policy or endorsement issued by an admitted life and disability insurer may contain a provision for a waiver of premium payments in the event of involuntary unemployment of the insured. Insurers issuing policies or endorsements containing that provision shall establish any additional reserves and file any additional financial reports that the commissioner may require.

(b)A contract or supplemental contract issued by an admitted life and disability insurer may contain a provision for a waiver of surrender charge benefit for a life insurance or annuity contract in the event of voluntary or involuntary unemployment of the owner, insured, or annuitant, as applicable. Insurers issuing contracts or supplemental contracts containing that provision shall establish any additional reser

Free access — add to your briefcase to read the full text and ask questions with AI

(a)
A policy or endorsement issued by an admitted life and disability insurer may contain a provision for a waiver of premium payments in the event of involuntary unemployment of the insured. Insurers issuing policies or endorsements containing that provision shall establish any additional reserves and file any additional financial reports that the commissioner may require.
(b)
A contract or supplemental contract issued by an admitted life and disability insurer may contain a provision for a waiver of surrender charge benefit for a life insurance or annuity contract in the event of voluntary or involuntary unemployment of the owner, insured, or annuitant, as applicable. Insurers issuing contracts or supplemental contracts
containing that provision shall establish any additional reserves and file any additional financial reports that the commissioner may require.

California § 10110.5. (10110.5. (Amended by Stats. 2013, Ch. 345, Sec. 1.)) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.