N.H. Code Admin. R. Ins 301.06 - Solicitation of Life Insurance General Rules

(a) Each insurer shall maintain at its home office or principal office a complete file containing one copy of each document authorized and used by the insurer pursuant to this part. The file shall contain one copy of each authorized form for a period of 5 years following the date of its last authorized use unless otherwise provided by Ins 301. Insurers must also comply with RSA 400-B:4 and Ins 2602.
(b) A producer shall inform the prospective purchaser, prior to commencing a life insurance sales presentation, that they are acting as a life insurance producer and inform the prospective purchaser of the full name of the insurance company which the producer is representing to the buyer. In sales situations in which a producer is not involved, the insurer shall identify its full name.
(c) An insurance producer shall not use terms such as "financial planner", "investment advisor", "financial consultant", or "financial counseling" in such a way as to imply that they are primarily engaged in an advisory business in which compensation is unrelated to sales, unless that is actually the case and the producer otherwise complies with RSA 402-J:3 and RSA 405:44-a. This provision is not intended to:
(1) Preclude persons who hold some form of formally recognized financial planning or consultant designation from using this designation even when they are only selling insurance;
(2) Preclude persons who are members of a recognized trade or professional association having such terms as part of its name from citing membership, providing that a person citing membership, if authorized only to sell insurance products, shall disclose that fact; or
(3) Permit persons to charge an additional fee for services that are customarily associated with the solicitation, negotiation, or servicing of policies.
(d) Any reference to nonguaranteed elements shall include a statement that the item is not guaranteed and is based on the company's current scale of nonguaranteed elements using the appropriate special term such as "current dividend" or "current rate" scale. If a nonguaranteed element would be reduced by the existence of a policy loan, a statement to that effect shall be included in any reference to nonguaranteed elements. A presentation or depiction of a policy issued after the effective date of 2017 Ins 309 that includes nonguaranteed elements over a period of years shall be governed by this part. Solicitations pertaining to nonguaranteed elements shall also comply with Ins 2602.05(o).

Notes

N.H. Code Admin. R. Ins 301.06

#1900, eff 1-1-82; amd by #2141, eff 1-1-83; ss by #4287, eff 7-1-87; ss by #5657, eff 7-1-93; ss by #7015, INTERIM, eff 7-1-99, EXPIRED: 10-29-99

New. #7450, eff 2-16-01, EXPIRED: 2-16-09

New. #9651, eff 2-5-10

Amended by Volume XXXVII Number 50, Filed December 14, 2017, Proposed by #12423, Effective 2/5/2018, Expires 2/5/2028

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