Oregon § 743.213 Determination of paid-up nonforfeiture benefits

Oregon Statutes

§ 743.213 — Determination of paid-up nonforfeiture benefits

Oregon § 743.213

Vol.18

Title 56Insurance

Ch. 743Health and Life Insurance and Annuities

This text of Oregon § 743.213 (Determination of paid-up nonforfeiture benefits) is published on Counsel Stack Legal Research, covering Oregon primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Or. Rev. Stat. § 743.213 (2026).

Text

Any paid-up nonforfeiture benefit available under a life insurance policy in the event of default in a premium payment due on any policy anniversary shall be such that its present value as of such anniversary shall be at least equal to the cash surrender value then provided for by the policy or, if none is provided for, that cash surrender value which would have been required by ORS 743.207 in the absence of the condition that premiums have been paid for at least a specified period.

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Any paid-up nonforfeiture benefit available under a life insurance policy in the event of default in a premium payment due on any policy anniversary shall be such that its present value as of such anniversary shall be at least equal to the cash surrender value then provided for by the policy or, if none is provided for, that cash surrender value which would have been required by ORS 743.207 in the absence of the condition that premiums have been paid for at least a specified period.