11 NCAC 12 .1204             ASSIGNEE/BENEFICIARY

Before the payment of any accelerated benefit, the insurer shall obtain from any assignee or irrevocable beneficiary a signed acknowledgement of concurrence for payment.  If the insurer paying the accelerated benefit is the assignee under the policy, no such acknowledgement is required.

 

History Note:        Authority G.S. 58‑2‑40; 58‑3‑150; 58‑7‑15(1); 58‑58‑1;

Eff. March 1, 1992.