Section 760 IAC 1-77-2 - Applicability and scopeAuthority: IC 27-4-1-4
Affected: IC 27-4-1-4
Sec. 2.
(a) This rule applies to all solicitations or sales of any life insurance or annuity product by an insurer or insurance producer to an active duty service member of the United States armed forces, except solicitations or sales involving any of the following:(2) Group life insurance or group annuities where:(A) there is no in-person, face-to-face solicitation of individuals by an insurance producer; or(B) the contract or certificate does not include a side fund.(3) An application to the existing insurer that issued the existing policy or contract when:(A) a contractual change or a conversion privilege is being exercised;(B) the existing policy or contract is being replaced by the same insurer pursuant to a program filed with and approved by the commissioner; or(C) a term conversion privilege is exercised among corporate affiliates.(4) Individual stand-alone health policies, including disability income policies.(5) Contracts offered by SGLI or VGLI.(6) Life insurance contracts offered through or by a nonprofit military association, qualifying under Section 501(c)(23) of the Internal Revenue Code (IRC), and that are not underwritten by an insurer.(7) Contracts used to fund:(A) an employee pension or welfare benefit plan that is covered by the Employee Retirement and Income Security Act (ERISA);(B) a plan described by Sections 401(a), 401(k), 403(b), 408(k), or 408(p) of the IRC, as amended, if established or maintained by an employer;(C) a government or church plan defined in Section 414 of the IRC, a government or church welfare benefit plan, or a deferred compensation plan of a state or local government or tax exempt organization under Section 457 of the IRC; (D) a nonqualified deferred compensation arrangement established or maintained by an employer or plan sponsor;(E) settlements of or assumptions of liabilities associated with personal injury litigation or any dispute or claim resolution process; or(F) prearranged funeral contracts.(b) Nothing in this rule shall be construed to abrogate the ability of nonprofit organizations or other organizations, or both, to educate members of the United States armed forces in accordance with Department of Defense DoD Instruction 1344.07 - Personal Commercial Solicitation on DoD Installations or successor directive.(c) For purposes of this rule, the following shall not constitute solicitation: (1) Advertisements, direct mail, and Internet marketing.(2) Telephone marketing, provided the caller:(A) explicitly and conspicuously discloses that the product concerned is life insurance; and(B) makes no statements that avoid a clear and unequivocal statement that life insurance is the subject matter of the solicitation. Nothing in this subsection shall be construed to exempt an insurer or insurance producer from this rule in any in-person, face-to-face meeting established as a result of the solicitation exemptions identified in this subsection.
Department of Insurance; 760 IAC 1-77-2; filed May 12, 2009, 11:29 a.m.: 20090610-IR-760080118FRAReadopted filed 11/20/2015, 9:25 a.m.: 20151216-IR-760150341RFAReadopted filed 11/15/2021, 8:32 a.m.: 20211215-IR-760210419RFA