Health and Life Insurance, second half

What this document is

Oregon Revised Statutes Chapter 743 - Health and Life Insurance, second half (116 sections, 743.269-743.826) is a state statute published by Oregon Legislative Assembly, oregonlegislature.gov (retrieved via an Internet Archive snapshot of the official site). It is one of the Oregon documents that insurance license exam questions are written from, including oregon life & health practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• ORS Chapter 743 § 743.284(2) (Computation of Benefits, Death Benefit Floor)

  “In no event shall the cash surrender benefit be less than the minimum nonforfeiture amount on the date of surrender. The death benefit under an annuity policy that provides cash surrender benefits shall be at least equal to the cash surrender benefit.”

• ORS Chapter 743 § 743.278 (Required provisions in annuity policies; exception)

  “That, if the policy provides for a lump sum settlement at maturity or any other time, the insurer shall pay upon surrender of the policy on or before the start of annuity payments, in lieu of a paid-up annuity benefit, a cash surrender benefit of the amount specified in ORS 743.284 and 743.287. The...”

• ORS Chapter 743 § 743.318 (Application; Representations by Policyholders and Insureds)

  “A group life insurance policy shall contain a provision that a copy of the application, if any, of the policyholder shall be attached to the policy when issued, that all statements made by the policyholder or by the persons insured shall be deemed representations and not warranties, and that no...”

• ORS Chapter 743 § 743.333 (Termination of Individual Coverage; Conversion Right)

  “A group life insurance policy shall contain a provision that if the insurance, or any portion of it, on a person covered under the policy ceases because of termination of employment or of membership in the class or classes eligible for coverage under the policy, such person shall be entitled to...”

• ORS Chapter 743 § 743.303 (Requirements for Issuance of Group Life Insurance Policies)

  “The policy shall be issued upon the lives of persons who are associated in a common group formed for purposes other than the obtaining of insurance, except that either of the following kinds of policies may be issued to persons other than those in a common group: (a) Group policies of credit life...”

• ORS Chapter 743 § 743.312 (Grace Period, Group Life)

  “A group life insurance policy shall contain a provision that the policyholder is entitled to a grace period of 31 days for the payment of any premium due except the first, during which grace period the death benefit coverage shall continue in force, unless the policyholder shall have given the...”

• ORS Chapter 743 § 743.324 (Misstatement of Age)

  “A group life insurance policy shall contain a provision specifying an equitable adjustment of premiums or of benefits or of both to be made in the event the age of a person insured has been misstated, such provision to contain a clear statement of the method of adjustment to be used.”

• ORS Chapter 743 § 743.309 (Group Life Nonforfeiture Provisions)

  “If a group life insurance policy is on a plan of insurance other than the term plan, it shall contain nonforfeiture provision or provisions which in the opinion of the Director of the Department of Consumer and Business Services are equitable to the insured persons and to the policyholder, but...”

• ORS Chapter 743 § 743.406(1) (Required Provisions in Group Health Insurance Policies)

  “A group health insurance policy shall contain in substance the following provisions: (1) A provision that, in the absence of fraud, all statements made by applicants, the policyholder or an insured person shall be deemed representations and not warranties, and that no statement made for the purpose...”

• ORS Chapter 743 § 743.495(1)(b) (Use of Terms "Noncancelable" or "Guaranteed Renewable")

  “The unqualified term “guaranteed renewable,” except as provided in paragraph (a) of this subsection, may be used only in a policy which the insured has the right to continue in force for life by the timely payment of premiums, during which period the insurer has no right to make unilaterally any...”

• ORS Chapter 743 § 743.472 (Permissible Reasons for Cancellation or Refusal to Renew)

  “An insurer selling individual health insurance policies may cancel or refuse to renew an individual health insurance policy only if the insurer makes a determination to cancel or not to renew all policies of the same type and form as the individual policy, or if the ground for cancellation or...”

• ORS Chapter 743 § 743.290 (Notice of nonpayment of certain benefits to be included in annuity policy)

  “An annuity policy that does not provide cash surrender benefits or does not provide death benefits at least equal to the minimum nonforfeiture amount prior to the start of annuity payments shall include a statement in a prominent place in the policy that the benefits are not provided.”

Practice this material

Questions about this source

More Oregon sources

• ORS Chapter 746 - Trade Practices (selected Secs. 746.005-746.240)State statute
• Oregon Revised Statutes Chapter 742 - Insurance Policies Generally (152 sections, 742.001-742.710)State statute
• Oregon Revised Statutes Chapter 743 - Health and Life Insurance, first half (74 sections, 743.004-743.268)State statute
• Oregon Revised Statutes Chapter 743A - Health Insurance Mandated Benefits (whole chapter, 743A.001-743A.335)State statute
• Oregon Revised Statutes Chapter 743B - Health Benefit Plans, first half (47 sections, 743B.001-743B.287)State statute
• Oregon Revised Statutes Chapter 743B - Health Benefit Plans, second half (50 sections, 743B.288-743B.810)State statute
• Oregon Revised Statutes Chapter 744 - Insurance Producers and Life Settlements, first half (60 sections, 744.052-744.367)State statute
• Oregon Revised Statutes Chapter 744 - Insurance Producers and Life Settlements, second half (86 sections, 744.369-744.994)State statute