Current through Register 2024 Notice Reg. No. 38, September 20, 2024
(a) "Policy" shall include any policy, plan,
certificate, contract, agreement, statement of coverage, rider or endorsement which
provides for life insurance or annuity benefits.
(b) "Insurer" shall include any organization or
person which issues life insurance or annuities to residents of this
state.
(c) "Advertisement" shall be
material designed to create public interest in life insurance or annuities or in an
insurer, or to induce the public to purchase, increase, modify, reinstate or retain
a policy including:
(1) printed and published
material, audiovisual material, and descriptive literature of an insurer used in
direct mail, newspapers, magazines, radio and television scripts, billboards and
similar displays;
(2) descriptive
literature and sales aids of all kinds issued by an insurer or agent, including but
not limited to circulars, leaflets, booklets, depictions, illustrations and form
letters;
(3) material used for the
recruitment, training, and education of an insurer's sales personnel, agents,
solicitors and brokers which is designed to be used or is used to induce the public
to purchase, increase, modify, reinstate or retain a policy;
(4) prepared sales talks, presentations, and
material for use by sales personnel, agents, solicitors and
brokers.
(d) "Advertisement"
for the purpose of these regulations shall not include:
(1) communications or materials used within an
insurer's own organization and not intended for dissemination to the
public;
(2) communications with
policyholders other than material urging policyholders to purchase, increase,
modify, reinstate or retain a policy;
(3) a general announcement from a group or blanket
policyholder to eligible individuals on an employment or membership list that a
policy or program has been written or arranged; provided the announcement clearly
indicates that it is preliminary to the issuance of a booklet explaining the
proposed coverage.
