Additional Standards for Waiver of Premium Benefits for Total Disability and Other Qualifying Events For Whole Life Insurance Policies and Certificates for Employer Groups
Purpose of Proposed New Rules: The Additional Standards for Waiver of Premium Benefits for Total Disability and Other Qualifying Events For Whole Life Insurance Policies and Certificates F or Employer Groups apply to waiver of premium benefits that are built into group life insurance policy and certificate forms or added to such policy and certificate forms by rider, endorsement, or amendment. The waiver is for premiums due under a group life insurance certificate in the event that the insured becomes totally disabled or experiences any allowable qualifying event under the terms of the form. The waiver can include waiver benefits for one or more benefit triggers and is not required to provide waiver for both total disability and all qualifying events.
Published Notices of Standards: Citation of Notice published on September 5, 2023