Current through Register Vol. 55, No. 1, January 4, 2025
Section 90f.8 - Termination of coverageThe form discloses the conditions under which the coverage terminates.
(1)Benefit provided by rider. The following conditions are disclosed if the benefit is provided by a rider:(i) Written request from the owner for termination.(ii) Termination of the policy.(iii) Nonpayment of premium.(iv) The benefit is paid. This condition is disclosed if the benefit is built into a policy.(2)Termination condition disclosed. The following termination condition is disclosed if applicable: When a policy nonforfeiture option takes effect. This complies with § 89.42(e) (relating to nonforfeiture value requirements). Alternatively, this termination condition is disclosed in the policy.(3)Termination condition not disclosed. The following termination condition is not disclosed: Attainment of a specific age or contract anniversary, or both, other than at an age or anniversary at which the policy terminates.