Statute · California Insurance Code
Cal. Ins. Code § 10110.5 — General Provisions
Cal. Ins. Code § 10110.5
- Type
- Statute
- Source
- California Insurance Code
- Jurisdiction
- California
- Date
- 2014-01-01
- Current through
- Nov 2, 2026 (California Legislative Counsel)
(a) A policy or endorsement issued by an admitted life and disability insurer may contain a provision for a waiver of premium payments in the event of involuntary unemployment of the insured. Insurers issuing policies or endorsements containing that provision shall establish any additional…
Citator
Cal. Ins. Code § 10110.5 — General Provisions is in force in the current edition of the Code, and nothing recorded condemns it.
(a) A policy or endorsement issued by an admitted life and disability insurer may contain a provision for a waiver of premium payments in the event of involuntary unemployment of the insured. Insurers issuing policies or endorsements containing that provision shall establish any additional reserves and file any additional financial reports that the commissioner may require.
(b) A contract or supplemental contract issued by an admitted life and disability insurer may contain a provision for a waiver of surrender charge benefit for a life insurance or annuity contract in the event of voluntary or involuntary unemployment of the owner, insured, or annuitant, as applicable. Insurers issuing contracts or supplemental contracts containing that provision shall establish any additional reserves and file any additional financial reports that the commissioner may require.