Or. Admin. Code § 836-080-0090 - Suitability in the Sale of Life Insurance
A person may not recommend to a consumer the purchase, sale or replacement of a life insurance policy, or any rider, endorsement or amendment to the policy, without reasonable grounds to believe that the recommendation or transaction is not unsuitable for the consumer based upon reasonable inquiry concerning the consumer's insurance objectives, financial situation and needs, age and other relevant information known by the person. For the purpose of this rule, when a person recommends a group life insurance policy, "consumer" refers to the intended group policyholder.
Notes
Stat. Auth.: ORS 731.244
Stats. Implemented: ORS 746.100, 746.110 & 746.240
State regulations are updated quarterly; we currently have two versions available. Below is a comparison between our most recent version and the prior quarterly release. More comparison features will be added as we have more versions to compare.