South Dakota Administrative Rules
Title 20 - PUBLIC SAFETY
Article 20:06 - INSURANCE
Chapter 20:06:13 - Medicare supplement insurance
Section 20:06:13:28 - Delivery of buyer's guide

Universal Citation: SD Admin Rules 20:06:13:28
Current through Register Vol. 50, page 114, March 25, 2024

A policy sold through an agent shall include a buyer's guide at the time of application. The agent shall obtain a signed acknowledgment of receipt from the applicant. The insurer shall maintain the acknowledgment of receipt on file for five years. The insurer shall make the file, in whole or part, accessible to the division on request.

Direct response insurers shall deliver a buyer's guide to the applicant upon request. The offer to provide a buyer's guide to the applicant shall be in writing on the application unless a buyer's guide is delivered to all insured. A requested buyer's guide may not be delivered later than the time of delivery of the policy.

Delivery of the buyer's guide shall be made whether or not such policies or certificates are advertised, solicited, or issued as Medicare supplement policies or certificates as defined in this chapter. Except for direct response issuers, delivery of the buyer's guide shall be made to the applicant at the time of application and acknowledgment of receipt of the buyer's guide shall be obtained by the issuer. Direct response issuers shall deliver the buyer's guide to the applicant upon request, but not later than at the time the policy is delivered.

General Authority: SDCL 58-17A-6.

Law Implemented: SDCL 58-17A-6.

Disclaimer: These regulations may not be the most recent version. South Dakota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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