Iowa Admin. Code r. 191-15.53

Current through Regsiter Vol. 46, No. 26, June 12, 2024

Rule 191-15.53 - Exemptions

These rules apply to all group and individual life insurance policies and certificates except:

1. Variable life insurance;

2. Individual and group annuity contracts;

3. Credit life insurance;

4. Group or individual policies of life insurance issued to members of an employer group or other permitted group when:

* Every plan of coverage was selected by the employer or other group representative;

* Some portion of the premium is paid by the group or through payroll deduction; and

* Group underwriting or simplified underwriting is used; and

5. Policies and certificates where an illustration has been provided pursuant to the requirements of 191-Chapter 14.

Iowa Admin. Code r. 191-15.53

Adopted by IAB March 20, 2024/Volume XLVI, Number 19, effective 4/24/2024