28 Tex. Admin. Code § 3.4313 - Notice and Disclosure Requirements for Marketing Materials

(a) Any "invitation to contract," as defined in § 21.102 of this title (relating to Scope), used in the marketing, solicitation or sale of a life insurance contract containing an acceleration-of-life-insurance provision shall clearly and concisely disclose the following:

(1) the illness, condition, care, or confinement necessary to trigger eligibility for any acceleration-of-life-insurance benefit;

(2) the effect that an acceleration-of-life-insurance benefit provision will have on the death benefit and other values available under the life insurance contract;

(3) the tax-related disclosures contained in either subsection (a) or (b) of § 3.4316 of this title (relating to Disclosures Related to Tax Qualification of Benefits and Benefits' Effect on Public Assistance), as appropriate, and the disclosure contained in subsection (c) of §3.4316, or disclosures substantially similar to these disclosures.

(b) No insurer or agent, in marketing a life insurance contract which provides acceleration-of-life-insurance benefits, may mention, illustrate, or refer to the contract as an alternative or substitute for catastrophic major medical health insurance.

Notes

28 Tex. Admin. Code § 3.4313

The provisions of this §3.4313 adopted to be effective March 1, 1998, 23 TexReg 1585; transferred effective April 16, 1999, 24 TexReg 3092; amended to be effective June 23, 2008, 33 TexReg 4884