044-60 Wyo. Code R. §§ 60-2 - Exemptions
(a) This regulation shall not apply to
solicitations or sales involving the following, unless otherwise stated in this
regulation:
(i) Credit insurance;
(ii) Group life insurance or group annuities
where there is no in-person solicitation of individuals by an insurance
producer or where the contract or certificate does not include a side
fund;
(iii) An application to the
existing insurer that issued the existing policy or contract when a contractual
change or a conversion privilege is being exercised, or when the existing
policy or contract is being 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;
(iv) Individual stand-alone health policies,
including disability income policies;
(v) Contracts offered by Servicemembers'
Group Life Insurance (SGLI) or Veterans' Group Life Insurance (VGLI), as
authorized by
38
U.S.C. Section 1965
et seq,
and contracts offered by State Sponsored Life Insurance (SSLI) as authorized by
37 U.S.C. Section
707
et seq.;
(vi) Life insurance contracts offered through
or by a non-profit military association, qualifying under Section 501(c)(23) of
the Internal Revenue Code (IRC), and which are not underwritten by an insurer;
or
(vii) Contracts used to fund:
(A) An employee pension or welfare benefit
plan that is covered by the Employee Retirement and Income Security Act
(ERISA);
(B) A plan described by
Sections 401(a), 401(k), 403(b), 408(k), or 408(p) of the IRC, as amended, if
established or maintained by an employer;
(C) A government or church plan defined in
Section 414 of the IRC, a government or church welfare benefit plan, or a
deferred compensation plan of a state or local government or tax exempt
organization under Section 457 of the IRC;
(D) A nonqualified deferred compensation
arrangement established or maintained by an employer or plan sponsor;
(E) Settlements of, or assumptions of
liabilities associated with, personal injury litigation or any dispute or claim
resolution process; or
(F)
Prearranged funeral contracts.
(b) Nothing herein shall be construed to
abrogate the ability of organizations to educate members of the United States
Armed Forces in accordance with Department of Defense DoD Instruction 1344.07 -
Personal Commercial Solicitation on DoD Installations or successor
directive.
(c) For purposes of this
regulation, general advertisements, direct mail, and internet marketing shall
not constitute "solicitation." Telephone marketing shall not constitute
"solicitation" provided the caller explicitly and conspicuously discloses that
the product concerned is life insurance and makes no statements that avoid a
clear and unequivocal statement that life insurance is the subject matter of
the solicitation. Provided however, nothing in this subsection shall be
construed to exempt an insurer or insurance producer from this regulation in
any in-person meeting established as a result of the "solicitation" exemptions
identified in this subsection.
Notes
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