West Virginia Code of State Rules
Agency 114 - Insurance Commission
Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER
Series 114-07 - Premium Financing Of Life Insurance For College Students
Section 114-7-5 - Selling Practices

5.1. Sales presentation-Cash values-Written summary to applicant. -- Any cash values shown at the time of presentation should be based on the face amount of the policy being offered and not for a larger policy. For example, if a ten thousand dollars ($10,000) policy is being presented, the values for such ten thousand dollars ($10,000) policy, and not for a fifty thousand dollars ($50,000) or seventy-five dollars ($75,000) program, should be shown. An appropriate written summary setting forth the proposal accepted shall be given to the applicant at the time he executes the application.

5.2. Filing sales material. -- All sales material, promissory notes and other forms used in the sale of such programs must be submitted to the West Virginia Insurance Department in duplicate with duplicate letters of transmittal referring to the policy form or forms in connection with which such material is to be used. No such materials shall be used until submitted for approval as outlined above.

5.3. "Bird Dogging" prohibited. -- No person other than a licensed agent shall participate in the solicitation, negotiation, or effectuation of life insurance with respect to college students in this State. Solicitation includes, but is not limited to, situations where a licensed agent compensates or agrees to compensate certain professors, students, or administrative personnel for aiding him in the solicitation of prospects.