§ 58036. Shortened Benefit Period Nonforfeiture Benefit.

“Shortened Benefit Period Nonforfeiture Benefit” means that, when premiums cease being paid, the covered benefits will be paid by the Issuer at the rate specified in the Partnership Policy or Certificate but the lifetime maximum benefit payable will be reduced to an amount less than provided in the Partnership Policy or Certificate at date of issue.

HISTORY

1. Renumbering and amendment of former section 58033 to new section 58036 filed 10-1-98 as an emergency; operative 10-1-98. Submitted to OAL for printing only pursuant to Welfare and Institutions Code section 22009(d) (Register 98, No. 41). A Certificate of Compliance must be transmitted to OAL by 1-29-99 or emergency language will be repealed by operation of law on the following day.

2. Certificate of Compliance as to 10-1-98 order transmitted to OAL 1-28-99 and filed 3-15-99 (Register 99, No. 12).

Note

Note: Authority cited: Section 22009(a), Welfare and Institutions Code. Reference: Section 22005(b), Welfare and Institutions Code.