11 NCAC 12 .1106 DISABILITY INSURANCE PLANS
If the financial institution sponsors a mortgage life insurance plan and a disability insurance plan that are underwritten by the same insurer, and if the new insurer consolidates the mortgage life plan pursuant to 11 NCAC 12 .1104 by offering the same coverage at the old premium, the new insurer must also consolidate the disability insurance plan by offering the same coverage at the old premium.
History Note: Authority G.S. 58‑2‑40; 58‑2‑210;
Eff. February 1, 1992;
Pursuant to G.S. 150B-21.3A, rule is necessary without substantive public interest Eff. May 1, 2018.