(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:

Terms Used In Oregon Statutes 743.360

  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100

(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. [2001 c.943 § 3]

 

[1979 c.708 § 5; renumbered 743.104 in 1989]

 

[1979 c.708 § 6; renumbered 743.106 in 1989]

 

[1979 c.708 § 7; renumbered 743.107 in 1989]

 

[1979 c.708 § 8; renumbered 743.109 in 1989]

 

CREDIT LIFE AND CREDIT HEALTH INSURANCE

 

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