D.C. Mun. Regs. tit. 26, r. 26-A1006

Current through Register Vol. 71, No. 49, December 6, 2024

Rule 26-A1006 - POLICIES CONTAINING LIMITED DEATH BENEFITS

1006.1

The Department of Insurance shall not disapprove of certain policies solely for the reason that the policies provide limited death benefits during the first few policy years.

1006.2

In order for policies providing limited death benefits during the first few policy years to receive favorable consideration by the Department they shall meet all statutory requirements, including those pertaining to misrepresentation, and shall be filed in accordance with § 35 -512 of the D.C. Code, 1981 ed.

1006.3

Policies providing limited death benefits during the first few policy years shall conform to the following requirements:

(a) The brief description appearing on the front and back of each policy shall contain prominent cautionary language as to the limited death benefit feature; and

(b) No accidental death benefits may be substituted for regular death benefits so as to disguise or obscure the limited death benefit feature of the policy.

D.C. Mun. Regs. tit. 26, r. 26-A1006