California Insurance Code Section 10295.15

CA Ins Code § 10295.15 (2017)  

(a) Except at the request of the policyholder or contractholder, all accelerated death benefit provisions or supplemental contracts shall be renewable for the life of the underlying life insurance policy, provided the premiums are timely paid. The statement shall be prominently displayed on the first page of the accelerated death benefit policy or rider.

(b) If an accelerated death benefit is offered with an underlying term life insurance policy, the accelerated death benefit shall include a prominent statement on page one that the accelerated death benefit terminates with the policy.

(Amended by Stats. 2014, Ch. 360, Sec. 4. (AB 2578) Effective January 1, 2015.)

Last modified: October 25, 2018