Washington Code 48.23A.010 – Scope of chapter — Exceptions
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This chapter applies to all group and individual life insurance policies and certificates except:
Terms Used In Washington Code 48.23A.010
- 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) Variable life insurance;
(2) Individual and group annuity contracts;
(3) Credit life insurance; or
(4) Life insurance policies with no illustrated death benefits on any individual exceeding ten thousand dollars.
[ 1997 c 313 § 2.]