Or. Admin. Code § 836-051-0755

Current through Register Vol. 63, No. 12, December 1, 2024

Section 836-051-0755 - Definitions

As used in OAR 836-051-0750 to 836-051-0775:

(1) "Preneed insurance" is any life insurance policy that is issued in combination with, in support of, with an assignment to, or as a guarantee for a prearrangement agreement for goods and services to be provided at the time of and immediately following the death of the insured. Goods and services may include, but are not limited to embalming, cremation, body preparation, viewing or visitation, coffin or urn, memorial stone, and transportation of the deceased. The status of the policy as preneed insurance is determined at the time of issue in accordance with the policy form filing.

(2) "Ultimate 1980 CSO" means the 1980 Commissioners' Standard Ordinary Life Valuation Mortality Tables (1980 CSO) without ten-year (10-year) selection factors, incorporated into the 1980 amendments to the NAIC Standard Valuation Law approved in December 1983.

Or. Admin. Code § 836-051-0755

ID 17-2008, f. & cert. ef. 12-9-08

Stat. Authority: ORS 731.244, 733.306, 743.205

Stats. Implemented: ORS 733.306, 733.310, 743.215, 743.216, 743.221