(1) “Life insurance” means insurance on human lives and every insurance appertaining thereto and includes the granting of endowment benefits, additional benefits in event of death or dismemberment by accident or accidental means, additional benefits in event of the insured’s or premium payer’s disability and optional modes of settlement of proceeds of life insurance including annuity benefits payable under such a settlement provision. “Life insurance” does not include workers’ compensation coverages.
(2) For convenience, reference to “life insurance” in the Insurance Code includes life insurance as defined in subsection (1) of this section and annuities as defined in ORS 731.154, except if the inclusion of annuities obviously is inapplicable or if the context requires, or the Insurance Code provides, otherwise. [1967 c.359 §37]
Section: Previous 731.150 731.154 731.156 731.158 731.162 731.164 731.166 731.170 731.174 731.178 731.182 731.186 731.190 731.194 731.204 NextLast modified: August 7, 2008