Section 760IAC1-24-3. Applicability of rule

   Scope. (A) Except as hereafter exempted, this regulation [760 IAC 1-24] shall apply to any solicitation, negotiation or procurement of life insurance occurring within this state. This regulation [760 IAC 1-24] shall apply to any issuer of life insurance contracts including fraternal benefit societies.

  (B) Unless otherwise specifically included, this regulation [760 IAC 1-24] shall not apply to:

(1) Annuities

(2) Credit life insurance

(3) Group life insurance

(4) Life insurance policies issued in connection with pension and welfare plans as defined by and which are subject to the federal Employee Retirement Income Security Act of 1974 (ERISA).

(5) Variable life insurance under which the death benefits and cash values vary in accordance with unit values of investments held in a separate account.

(Department of Insurance; Reg 25, Sec 3; filed Dec 26, 1978, 11:10 am: 2 IR 165; readopted filed Sep 14, 2001, 12:22 p.m.: 25 IR 531; readopted filed Nov 27, 2007, 4:01 p.m.: 20071226-IR-760070717RFA; readopted filed Nov 26, 2013, 3:43 p.m.: 20131225-IR-760130479RFA)