Section 10192 Of Article 5. Exemptions And Miscellaneous Provisions Relating To Insurance Contracts From California Insurance Code >> Division 2. >> Part 2. >> Chapter 1. >> Article 5.
10192
. If a policy of life insurance becomes paid up pursuant to a
paid up nonforfeiture benefit, the insurer shall send a notice to the
owner of the policy not later than six months after the date the
paid up nonforfeiture benefit becomes effective, and once every five
years thereafter. The notice shall advise the owner of the policy
that the owner, within six months after the date of the notice, may
request the insurer to send notices to all direct beneficiaries named
in the policy. If so requested, the insurer shall send the notices
by first-class mail to the addresses of the beneficiaries as supplied
by the owner. The notices shall advise the beneficiaries that they
are named as beneficiaries in the policy, and shall identify the
owner of the policy and the insured. The insurer shall provide, but
not be limited to, the following information upon request from the
beneficiary: (a) how the policy of insurance is identified on the
records of the insurer, (b) the amount of death benefits, and (c) the
cash surrender value of the policy.