Section 3 AAC 26.430 - Applicability(a) The provisions of 3 AAC 26.430 - 3 AAC 26.449 apply to a solicitation or sale of a life insurance or annuity product by an insurer or insurance producer to an active duty service member of the United States armed forces, except for a solicitation or sale involving(1) consumer credit insurance; in this paragraph, "consumer credit insurance" has the meaning given in AS 21.57.160;(2) a group life insurance policy or group annuity contract(A) in which in-person, face-to-face solicitation of individuals by an insurance producer does not take place; or(B) if the contract or certificate does not include a side fund;(3) an application to an insurer that issued an existing life insurance policy or annuity contract to (A) exercise a contractual change or conversion privilege;(B) replace the existing policy or contract by the same insurer under a program filed with and approved by the director; or(C) exercise a term conversion privilege among corporate affiliates;(4) an individual stand-alone health insurance policy, including a disability income policy;(5) a contract offered by Servicemembers' Group Life Insurance or Veterans' Group Life Insurance, as authorized by 38 U.S.C. 1965 - 1980 A;(6) a life insurance contract offered through or by a nonprofit military association qualifying under 26 U.S.C. 501(c)(23) (Internal Revenue Code) and that is not underwritten by an insurer; or(7) a life insurance policy or annuity contract that is used to fund (A) an employee pension or welfare benefit plan covered under 29 U.S.C. 1001 - 1461 (Employee Retirement Income Security Act of 1974);(B) a plan described in 26 U.S.C. 401(a) or (k), 26. U.S.C. 403(b), or 26 U.S.C. 408(k) or (p) (Internal Revenue Code), if the plan is established or maintained by an employer;(C) a governmental or church plan defined in 26 U.S.C. 414 (Internal Revenue Code), including a governmental or church welfare benefit plan;(D) a deferred compensation plan of a state or local government or tax exempt organization under 26 U.S.C. 457 (Internal Revenue Code);(E) a nonqualified deferred compensation arrangement under 26 U.S.C. 409 A (Internal Revenue Code) established or maintained by an employer or plan sponsor;(F) a settlement of or assumption of liabilities associated with personal injury litigation or a dispute or claim resolution process; or(G) a formal prepaid funeral contract.(b) Nothing in 3 AAC 26.430 - 3 AAC 26.449 abrogates the ability of an organization to educate members of the United States armed forces in accordance with the United States Department of Defense's DoD Instruction 1344.07 - Personal Commercial Solicitation on DoD Installations or successor directive.(c) Except as provided in (d) of this section, for purposes of 3 AAC 26.430 - 3 AAC 26.449, solicitation does not include (1) a general advertisement;(3) Internet marketing; or(4) telephone marketing, if the caller explicitly and conspicuously discloses that the subject matter of the call is life insurance and does not make a statement that avoids a clear and unequivocal statement that life insurance is the subject matter of the solicitation.(d) Notwithstanding (c) of this section, and for purposes of 3 AAC 26.430 - 3 AAC 26.449, a solicitation includes an in-person, face-to-face meeting established by an insurer or insurance producer using one or more of the methods listed in (c) of this section.Eff. 12/28/2008, Register 188In 2010 the revisor of statutes, acting under AS 01.05.031, renumbered former AS 21.36.150 as AS 21.36.900. As of Register 196 (January 2011), the regulations attorney made a conforming technical revision under AS 44.62.125(b)(6), to the authority citation that follows 3 AAC 26.430, so that the citation to former AS 21.36.150 now refers to the renumbered statute, AS 21.36.900.
Authority:AS 21.06.090
AS 21.36.020
AS 21.36.030
AS 21.36.040
AS 21.36.050
AS 21.36.900