§ 90g.8. Termination of coverage.
The form discloses the conditions under which the coverage terminates.
(1) Benefit provided by rider.
(i) The following conditions are disclosed if the benefit is provided by a rider:
(A) Written request from the owner for termination.
(B) Termination of the policy.
(C) Nonpayment of premium.
(D) The total amount of the paid benefits equals the maximum lifetime benefit amount. This condition is disclosed if a benefit is built into a policy.
(ii) The form may or may not provide for a continuation of benefit payments during a confinement period if the insured is receiving a benefit at the time the policy or rider terminates.
(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 specified age or contract anniversary, or both, other than at an age or anniversary at which the policy terminates.
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