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.