Compilation of Rules and Regulations of the State of Georgia
Department 120 - OFFICE OF COMMISSIONER OF INSURANCE, SAFETY FIRE COMMISSIONER AND INDUSTRIAL LOAN COMMISSIONER
Chapter 120-2 - RULES OF COMMISSIONER OF INSURANCE
Subject 120-2-11 - ADVERTISING OF LIFE INSURANCE AND ANNUITY CONTRACTS
Rule 120-2-11-.03 - Definitions

Universal Citation: GA Rules and Regs r 120-2-11-.03

Current through Rules and Regulations filed through March 20, 2024

For the purpose of these Regulations:

(1) "Commissioner" shall mean the Insurance Commissioner of the State of Georgia.

(2) "Policy" shall include any policy, plan, certificate, contract, agreement, statement of coverage, rider or endorsement which provides for life insurance or annuity benefits.

(3) "Insurer" shall include any individual, corporation, association, partnership, or any other legal entity which is defined as an "insurer" in the Georgia Insurance Code or issues life insurance or annuity contracts for delivery in this State.

(4) "Advertisement" shall be verbal, printed, written or other material or communication of any type from any source which is designed to create or has the effect of creating public interest in life insurance, annuities or in an insurer, agent or counselor, or induces or tends to induce the public to purchase, increase, modify, reinstate, surrender or retain a policy including, but not limited to:

(a) printed and/or published material, audiovisual material, mailing envelopes, descriptive literature used by an insurer in direct mail, newspapers, magazines, radio and television scripts, billboards or similar displays;

(b) descriptive literature and sales aids of all kinds issued, distributed or used by an insurer, agent or counselor, including but not limited to circulars, leaflets, booklets, depictions, illustrations, and form letters, including the use of pamphlets, brochures, books or portions thereof, authored by third parties;

(c) materials, statements or communications of any type used for the recruitment, training, and education of an insurer's sales personnel and agents which are designed to be used or are used to induce the public to purchase, increase, modify, reinstate, surrender or retain a policy; and

(d) prepared or extemporaneous sales talks, presentations, and material for use or used by sales personnel, agents or counselors.

(5) "Advertisement" for the purpose of these rules shall not include:

(a) communications or materials used within an insurer's own organization and not disseminated to the public.

(b) communications with policyholders other than material urging policyholders to purchase, increase, modify, reinstate, surrender or retain a policy.

(c) 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.

Ga. L. 1960, pp. 289, 305, 394, 395.

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