I-3, r. 1 - Regulation respecting the Taxation Act

Section 152r2 Disposition versions

2023-09-26

152R2. For the purposes of this chapter, any rider that is attached to a policy and that provides for additional non-cancellable or guaranteed renewable accident or sickness insurance, as the case may be, is a separate non-cancellable or guaranteed renewable accident and sickness policy.

s. 152R1.2; O.C. 1463-2001, s. 47; O.C. 134-2009, s. 1; S.Q. 2023, c. 19, s. 145.

2012-09-01

152R2. For the purposes of this chapter, the following rules apply:

(a)  a reference to a premium paid by the policyholder is, depending on the method regularly followed by the insurer in computing its income, to be read as a reference to a premium paid or payable by the policyholder;

(b)  in determining the premium paid by a policyholder for a policy, the insurer may deduct the portion of the premium that

i.  may reasonably be considered, at the time the policy is issued, to be a deposit that, pursuant to the terms of the policy or the by-laws of the insurer, will be returned to the policyholder, or credited to the account of the policyholder, by the insurer on the termination of the policy, and

ii.  was not otherwise deducted under section 832 of the Act; and

(c)  any rider that is attached to a policy and that provides for additional non-cancellable or guaranteed renewable accident or sickness insurance, as the case may be, is a separate non-cancellable or guaranteed renewable accident and sickness policy.

s. 152R1.2; O.C. 1463-2001, s. 47; O.C. 134-2009, s. 1.