Delaware Administrative Code
Title 18 - Insurance
1200 - Life Insurance and Annuities
1214 - Suitability In Annuity Transactions
Section 1214-2.0 - Exemptions

Universal Citation: 18 DE Admin Code 1214-2.0

Current through Register Vol. 28, No. 3, September 1, 2024

2.1 Unless otherwise specifically included, this regulation shall not apply to transactions involving:

2.1.1 Direct response solicitations where there is no recommendation based on information collected from the consumer pursuant to this regulation;

2.1.2 Contracts used to fund:
2.1.2.1 An employee pension or welfare benefit plan that is covered by the Employee Retirement and Income Security Act (ERISA);

2.1.2.2 A plan described by sections 401(a), 401(k), 403(b), 408(k) or 408(p) of the Internal Revenue Code (IRC), as amended, if established or maintained by an employer;

2.1.2.3 A government or church plan defined in section 414 of the IRC, a government or church welfare benefit plan, or a deferred compensation plan of a state or local government or tax-exempt organization under section 457 of the IRC; or

2.1.2.4 A nonqualified deferred compensation arrangement established or maintained by an employer or plan sponsor;

2.1.3 Settlements of or assumptions of liabilities associated with personal injury litigation or any dispute or claim resolution process; or

2.1.4 Formal prepaid funeral contracts.

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