Code of Massachusetts Regulations
211 CMR - DIVISION OF INSURANCE
Title 211 CMR 31.00 - Life Insurance Solicitation
Section 31.03 - Scope
Universal Citation: 211 MA Code of Regs 211.31
Current through Register 1531, September 27, 2024
(1) Except for the exemptions specified in 211 CMR 31.03(2), 211 CMR 31.00 shall apply to any solicitation, negotiation or procurement of life insurance occurring within Massachusetts. 211 CMR 31.05(2) shall apply only to an existing nonexempt policy held by a policy owner residing in Massachusetts. 211 CMR 31.00 shall apply to any issuer of life insurance contracts including fraternal benefit societies.
(2) Unless otherwise specifically included, 211 CMR 31.00 shall not apply to:
(a) Individual and group annuity
contracts;
(b) Credit life
insurance;
(c) Group life insurance
(except for disclosures relating to pre-need funeral contracts and
arrangements; these disclosure requirements shall extend to the issuance or
delivery of certificates as well as to the master policy);
(d) Life insurance policies issued in
connection with pension and welfare plans as defined by and which are subject
to the federal Employee Retirement Income Security Act of 1974 (ERISA),
29 U.S.C Section
1001
et seq.; or
(e) Variable life insurance under which the
amount or duration of the life insurance varies according to the investment
experience of a separate account.
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