Oregon § 743.360 Alternative group life insurance coverage

Oregon Statutes

§ 743.360 — Alternative group life insurance coverage

Oregon § 743.360

Vol.18

Title 56Insurance

Ch. 743Health and Life Insurance and Annuities

This text of Oregon § 743.360 (Alternative group life insurance coverage) 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. § 743.360 (2026).

Text

(1)Group life insurance coverage offered to a resident in this state under a group life insurance policy issued to a group other than one described in ORS 743.351 or 743.354 may be delivered if:

(a)The Director of the Department of Consumer and Business Services finds that:

(A)The issuance of the policy is in the best interest of the public;

(B)The issuance of the policy would result in economies of acquisition or administration; and

(C)The benefits are reasonable in relation to the premiums charged;

(b)The premium for the policy is paid either from funds of a policyholder, from funds contributed by a covered person or from both; and

(c)An insurer has the discretion to exclude or limit coverage for a voluntary plan on any person for whom evidence of individual insurability is not sa

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(1) Group life insurance coverage offered to a resident in this state under a group life insurance policy issued to a group other than one described in ORS 743.351 or 743.354 may be delivered if:
(a) The Director of the Department of Consumer and Business Services finds that:
(A) The issuance of the policy is in the best interest of the public;
(B) The issuance of the policy would result in economies of acquisition or administration; and
(C) The benefits are reasonable in relation to the premiums charged;
(b) The premium for the policy is paid either from funds of a policyholder, from funds contributed by a covered person or from both; and
(c) An insurer has the discretion to exclude or limit coverage for a voluntary plan on any person for whom evidence of individual insurability is not satisfactory to the insurer.
(2) The requirements of ORS 743.303 do not apply to a policy authorized under subsection (1) of this section.