230 R.I. Code R. 230-RICR-20-25-3.3

Current through November 21, 2024

Section 230-RICR-20-25-3.3 - Scope

A. Except for the exemptions specified in § 3.3(B) of this Part, this Part shall apply to any solicitation, negotiation or procurement of life insurance occurring within this state. This Part shall apply to any issuer of life insurance contracts including fraternal benefit societies.

B. This Part shall not apply to:

1. Individual and group annuity contracts;

2. Credit life insurance;

3. Group life insurance;

4. Life insurance policies issued in connection with pension and welfare plans as defined by and which are subject to the federal Employee Retirement Income Security Act of 1974 (ERISA), 29 U.S.C. § 1001 et seq. as amended; or

5. Variable life insurance under which the amount or duration of the life insurance varies according to the investment experience of a separate account.

230 R.I. Code R. 230-RICR-20-25-3.3