210 Neb. Admin. Code, ch. 82, § 004 - Exemptions

004.01 This rule does not apply to solicitations or sales involving:

004.01A Credit insurance;

004.01B Group life insurance or group annuities where there is no face-to-face solicitation of individuals by an insurance producer or where the contract or certificate does not include a side fund;

004.01C An application to the insurer that issued the existing policy or contract when a contractual change or a conversion privilege is being exercised; when the existing policy or contract is replaced by the same insurer pursuant to a program filed with and approved by the commissioner; or, when a term conversion privilege is exercised among corporate affiliates;

004.01D Individual stand-alone health and disability income policies;

004.01E Contracts offered by Servicemembers' Group Life Insurance (SGLI) or Veterans' Group Life Insurance (VGLI), as authorized by 38 U.S.C. § 1965 et seg;

004.01F Life insurance contracts offered by a non-profit military association, qualifying under Internal Revenue Code (IRC) Section 501 (c) (23), and which are not underwritten by an insurer;

004.01G Contracts used to fund:

004.01G(1) Employee pensions or welfare benefit plans that are is covered by the Employee Retirement and Income Security Act (ERISA);

004.01G(2) Plans described by IRC Sections 401(a), 401(k), 403(b), 408(k) or 408(p), as amended, if established or maintained by an employer;

004.01G(3) Government or church plans defined in IRC Section 414, a government or church welfare benefit plans, or a-deferred compensation plans of a-state or local government or tax exempt organizations under IRC Section 457;

004.01G(4) Nonqualified deferred compensation arrangements established or maintained by an employer or plan sponsor;

004.01G(5) Settlements or assumptions of liabilities associated with personal injury claims; or

004.01G(6) Contracts governed by the Burial Pre-Need Sale Act.

004.02 Nothing in this Rule will restrict the ability of organizations to educate members of the USAF pursuant Department of Defense DoD Instruction 1344.07 - Personal Commercial Solicitation on DoD Installations* or successor directive.

004.03 For purposes of this rule, "solicitation" does not include general advertisements, direct mail and internet marketing, Telephone marketing is nots "solicitation" provided the caller explicitly and discloses that the product concerned is life insurance.

Notes

210 Neb. Admin. Code, ch. 82, § 004

Amended effective 10/4/2020