(1) PURPOSE. The purpose of this rule is to
establish guidelines for wording change of beneficiary provisions and related
provisions in accident and sickness insurance policies.
GUIDELINES. A change of beneficiary
provisions and any related provision:
Shall comply with s.
Stats., except as provided in ss.
Stats., where applicable, and
May include requirements or limitations which would be consistent with an
orderly method of handling beneficiary designations and changes such as:
1. A requirement that a beneficiary
designation or change be recorded by the insurer;
2. A provision that a claim payment made
before a change in beneficiary designation is recorded is not subject to such
3. A requirement that a
beneficiary designation or change be written as opposed to oral; or
4. A requirement that a beneficiary
designation or change be given to a particular agent, representative or
Wis. Admin. Code Office of the Commissioner of Insurance § Ins 3.30
Cr. Register, May, 1974,
No. 221, eff. 6-1-74; emerg. am. (2) and (3) (a), eff. 6-22-76; am. (2) and (3)
(a), Register, September, 1976, No. 249, eff. 10-1-76; am. (2) and (3) (a),
Register, March, 1979, No. 279, eff. 4-1-79; correction in (2) made under s.
13.93(2m) (b) 7, Stats., Register, April, 1992, No.