Oregon Statutes 743.247 – Notice to variable life insurance policyholders
An insurer issuing individual variable life insurance policies shall mail to each policyholder at least once in each policy year after the first, at the last address of the policyholder known to the insurer:
Terms Used In Oregon Statutes 743.247
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
(1) A statement reporting the investments held in the applicable separate account.
(2) A statement reporting as of a date not more than four months preceding the date of mailing:
(a) In the case of an annuity policy under which payments have not yet commenced, the number of accumulation units credited to such policy and the dollar value of a unit, or the value of the policyholder’s account; and
(b) In the case of a life insurance policy, the dollar amount of the death benefit. [1973 c.435 § 15]
(Individual Annuity and Pure Endowment Policies)