Section 10110.5 - Waiver of premium payments upon involuntary unemployment of insured; waiver of surrender charge benefit upon voluntary or involuntary unemployment of insured(a) A policy or endorsement issued by an admitted life and disability insurer may contain a provision for a waiver of premium payments in the event of involuntary unemployment of the insured. Insurers issuing policies or endorsements containing that provision shall establish any additional reserves and file any additional financial reports that the commissioner may require.(b) A contract or supplemental contract issued by an admitted life and disability insurer may contain a provision for a waiver of surrender charge benefit for a life insurance or annuity contract in the event of voluntary or involuntary unemployment of the owner, insured, or annuitant, as applicable. Insurers issuing contracts or supplemental contracts containing that provision shall establish any additional reserves and file any additional financial reports that the commissioner may require.Amended by Stats 2013 ch 345 (SB 281),s 1, eff. 1/1/2014.Amended by Stats 2012 ch 567 (SB 1449),s 1, eff. 1/1/2013.Added by Stats 2005 ch 67 (AB 837),s 1, eff. 1/1/2006.