Ohio Revised Code Chapter 3915 - Life Insurance Policy Provisions

• Section 3915.01 - Company Defined.
  As used in this chapter, "company" includes corporations and associations. Effective Date: 10-23-1991
• Section 3915.02 - Application Of Law.
  This chapter does not apply to annuities except as provided in sections 3915.051, 3915.073, 3915.14, and 3915.21 to 3915.24 of the Revised Code, industrial...
• Section 3915.03 - Unauthorized Policies Not To Be Issued.
  No policy of life insurance shall be issued or delivered in this state, and no policy of life insurance of a life insurance company...
• Section 3915.04 - Preliminary Term Insurance.
  Life insurance policies may provide for not more than one year preliminary term insurance by incorporation therein of the following clause immediately preceding the...
• Section 3915.05 - Policy Provisions To Be Included.
  No policy of life insurance shall be issued or delivered in this state or be issued by a life insurance company organized under the...
• Section 3915.051 - Policy Loan Interest Rates.
  (A) As used in this section: (1) "Published monthly average" means: (a) "Moody's corporate bond yield average-monthly average corporates" as published by Moody's investors...
• Section 3915.052 - Interest Payable On Policy Proceeds.
  (A) On and after January 1, 1993, any life insurance company authorized to do business in this state shall pay interest, in accordance with...
• Section 3915.053 - Policy Of Military Reservist Not To Lapse For Nonpayment Of Premiums.
  (A) (1) Except as provided in division (A)(2) of this section, this section shall apply to any individual life insurance policy insuring the life...
• Section 3915.06 - Nonforfeiture Benefit And Cash Value.
  The nonforfeiture benefit referred to in division (H) of section 3915.05 of the Revised Code shall be available to the owner of the policy...
• Section 3915.07 - Standard Nonforfeiture Law.
  (A) In the case of policies issued before January 1, 1989, or an earlier date, not before January 1, 1983, as of which section...
• Section 3915.071 - Paid-up Nonforfeiture Benefit Or Alternative Nonforfeiture Benefit.
  (A) As used in this section, "operative date of the valuation manual" means the January 1 of the first calendar year that the valuation...
• Section 3915.072 - Cash Surrender Value - Nonforfeiture Factors.
  This section applies to all policies of life insurance, not excluded by division (N) of section 3915.071 of the Revised Code, that are delivered,...
• Section 3915.073 - Standard Nonforfeiture Law For Individual Deferred Annuities.
  (A) This section shall be known as the standard nonforfeiture law for individual deferred annuities. (B) This section does not apply to any reinsurance,...
• Section 3915.08 - Loan, Reserve, And Cash Surrender Value.
  Except in the case of policies to which the second paragraph of this section applies, the loan value referred to in division (G) of...
• Section 3915.09 - Provisions Prohibited.
  No policy of life insurance shall be issued or delivered in this state, or be issued by a life insurance company organized under the...
• Section 3915.10 - Time Extension For Premium Payments.
  A life insurance company may enter into subsequent agreements in writing with the insured, which need not be attached to the policy, to extend...
• Section 3915.11 - Interest Added To Principal Debt.
  In ascertaining the indebtedness due upon policy or premium loans, the interest, if not paid when due, shall be added to the principal of...
• Section 3915.12 - Exchange, Alteration, Or Conversion Of Policy.
  Any life insurance company, at the request of the policyholder, may exchange, alter, or convert any policy of life or endowment insurance or any...
• Section 3915.13 - Back-dating Policies.
  No life insurance company nor any of its agents shall knowingly make, issue, or deliver in this state any policy or contract of life...
• Section 3915.14 - Filing Of Forms Of Policies.
  (A) No policy of life insurance, nor any indorsement, rider, or application which becomes or is designed to become a part of any such...
• Section 3915.141 - Filing Of Form Of Indorsement Or Rider Providing Accelerated Benefits.
  In the case of an indorsement or rider that provides accelerated benefits in accordance with sections 3915.21 to 3915.24 of the Revised Code, the...
• Section 3915.15 - Provisions Of Policies Of Foreign Companies.
  The policies of a life insurance company, not organized under the laws of this state, may contain any provision which the law of the...
• Section 3915.16 - Interstate Insurance Product Regulation Code Adopted.
  The "Interstate Insurance Product Regulation Compact" is intended to help states join together to establish an interstate compact to regulate designated insurance products. Pursuant...
• Section 3915.21 - Accelerated Benefits Definitions.
  As used in sections 3915.21 to 3915.24 of the Revised Code: (A) "Accelerated benefits" means the benefits that are payable under a policy and...
• Section 3915.22 - Application Of Chapter.
  (A) Except as provided in division (B) of this section, every policy that provides accelerated benefits and that is issued or delivered in this...
• Section 3915.23 - Accelerated Benefits Calculated On Mortality Risks.
  The accelerated benefits provided by any policy subject to this chapter are life insurance benefits and are calculated primarily on the basis of mortality...
• Section 3915.24 - Rules.
  Within six months after the effective date of this section, the superintendent of insurance shall adopt rules in accordance with Chapter 119. of the...

Last modified: October 10, 2016