Rules & Regulations of the State of Tennessee
Title 0780 - Commerce and Insurance
Subtitle 0780-01 - Insurance Division
Chapter 0780-01-43 - Relating to the "Small Insurance Policy Law of 1979"
Section 0780-01-43-.05 - CONTENT OF APPLICATIONS
Universal Citation: TN Comp Rules and Regs 0780-01-43-.05
Current through September 24, 2024
(1) No application form for an industrial life insurance policy shall be used in this State after April 1, 1980 unless such form contains the provisions required by T.C.A. §56-7-702(d) (6) which are:
(a) a question as to whether the applicant
has reviewed his or her life insurance program;
(b) A question as to whether the applicant is
aware of the relationship of the cost of his or her life insurance program to
the applicant's total income;
(c) A
question which requires the applicant to disclose the total number of policies
and total amount of insurance presently in force on the life of the applicant
and the proposed insured, if the proposed insured is a person other than the
applicant.
The question must be stated in language which can be understood by the average consumer, and shall be stated so as to require a "yes" or "no" answer.
All of the questions required by this rule shall be displayed in the policy application in a manner no less prominent than other questions.
Authority: T.C.A. § 56-7-702(d)(3).
Disclaimer: These regulations may not be the most recent version. Tennessee 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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