Sec. 3 AAC 26.430 - Applicability
§ 3 AAC 26.430. Applicability
(a) The provisions of 3 AAC 26.430 - 3 AAC 26.449 apply to a solicitation or sale of a life insurance or annuity product by an insurer or insurance producer to an active duty service member of the United States armed forces, except for a solicitation or sale involving
(1) consumer credit insurance; in this paragraph, "consumer credit insurance" has the meaning given in AS 21.57.160;
(2) a group life insurance policy or group annuity contract
(A) in which in-person, face-to-face solicitation of individuals by an insurance producer does not take place; or
(B) if the contract or certificate does not include a side fund;
(3) an application to an insurer that issued an existing life insurance policy or annuity contract to
(A) exercise a contractual change or conversion privilege;
(B) replace the existing policy or contract by the same insurer under a program filed with and approved by the director; or
(C) exercise a term conversion privilege among corporate affiliates;
(4) an individual stand-alone health insurance policy, including a disability income policy;
(6) a life insurance contract offered through or by a nonprofit military association qualifying under 26 U.S.C. 501(c)(23) (Internal Revenue Code) and that is not underwritten by an insurer; or
(7) a life insurance policy or annuity contract that is used to fund
(C) a governmental or church plan defined in 26 U.S.C. 414 (Internal Revenue Code), including a governmental or church welfare benefit plan;
(D) a deferred compensation plan of a state or local government or tax exempt organization under 26 U.S.C. 457 (Internal Revenue Code);
(E) a nonqualified deferred compensation arrangement under 26 U.S.C. 409 A (Internal Revenue Code) established or maintained by an employer or plan sponsor;
(F) a settlement of or assumption of liabilities associated with personal injury litigation or a dispute or claim resolution process; or
(G) a formal prepaid funeral contract.
(b) Nothing in 3 AAC 26.430 - 3 AAC 26.449 abrogates the ability of an organization to educate members of the United States armed forces in accordance with the United States Department of Defense's DoD Instruction 1344.07 - Personal Commercial Solicitation on DoD Installations or successor directive.
(c) Except as provided in (d) of this section, for purposes of 3 AAC 26.430 - 3 AAC 26.449, solicitation does not include
(1) a general advertisement;
(2) direct mail;
(3) Internet marketing; or
(4) telephone marketing, if the caller explicitly and conspicuously discloses that the subject matter of the call is life insurance and does not make a statement that avoids a clear and unequivocal statement that life insurance is the subject matter of the solicitation.
(d) Notwithstanding (c) of this section, and for purposes of 3 AAC 26.430 - 3 AAC 26.449, a solicitation includes an in-person, face-to-face meeting established by an insurer or insurance producer using one or more of the methods listed in (c) of this section.(Eff. 12/28/2008, Register 188)
In 2010 the revisor of statutes, acting under AS 01.05.031, renumbered former AS 21.36.150 as AS 21.36.900. As of Register 196 (January 2011), the regulations attorney made a conforming technical revision under AS 44.62.125(b)(6), to the authority citation that follows 3 AAC 26.430, so that the citation to former AS 21.36.150 now refers to the renumbered statute, AS 21.36.900.
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