Section 0780-01-24-.04 - EXEMPTIONSUnless otherwise specifically included, this rule shall not apply to transactions involving:
(1) Credit life insurance;(2) Group life insurance;(3) An application to the existing insurer that issued the existing life insurance and a contractual change or a conversion privilege is being exercised;(4) Proposed life insurance that is to replace life insurance under a binding or conditional receipt issued by the same company;(5) Transactions where the replacing insurer and the existing insurer are the same, or are subsidiaries or affiliates under common ownership or control; provided, however, agents proposing replacement shall comply with the requirements of §0780-1-24-.05(1); and(6) Registered Contracts shall be exempt from the requirements of §§0780-1-24-.07(2)(b) and 0780-1-24-.07(2)(c) requiring provision of Policy Summary or ledger statement information; however, premium or contract contribution amounts and identification of the appropriate prospectus or offering circular shall be required in lieu thereof. Unless exempted by (1) through (6), above, this rule shall apply in any replacement transaction involving annuities, except for those provisions which require the completion of a Policy Summary or ledger statement as set forth in the Life Insurance Solicitation Rule.
Tenn. Comp. R. & Regs. 0780-01-24-.04
Original rule certified June 10, 1974. Repeal and new rule filed August 30, 1982; effective October 1, 1982. Repeal and new rule filed May 17, 1985; effective September 1, 1985.Authority: T.C.A. §§ 56-1-701, 56-2-301, 56-6-127 and 56-8-104.