Section R590-79-2 - Purpose and Scope(1) The purpose of this rule is to require an insurer to provide to a life insurance purchaser information to assist the purchaser in selecting a plan of life insurance appropriate for the purchaser's needs. (2) This rule applies to: (a) any solicitation, negotiation, or procurement of life insurance within this state; and(b) any issuer of a life insurance contract including a fraternal benefit society.(3) Unless otherwise included, this rule does not apply to:(b) credit life insurance;(c) group life insurance , except that a disclosure relating to a preneed funeral contract or prearrangement shall extend to the issuance or delivery of a certificate as well as to the policy;(d) a life insurance policy issued in connection with a pension and welfare plan as defined by the Employee Retirement Income Security Act of 1974 (ERISA), 29 U.S.C. 18, et seq.; or(e) variable life insurance .Utah Admin. Code R590-79-2
Amended by Utah State Bulletin Number 2021-24, effective 12/9/2021