Utah Admin. Code 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:
(a) an annuity;
(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
.
Notes
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