Chapter 87. Requirements for Certain Life Insurance Policies and Sales Practices  


Section 87.1. Definitions
Section 87.2. Purpose
Section 87.3. Guaranteed annual endowments
Section 87.4. Charter policy prohibited
Section 87.5. Profit-sharing policy prohibited
Section 87.6. Policy name or title
Section 87.7. Use of certain terms
Section 87.8. Twisting
Section 87.9. Mutual funds
Section 87.10. Penalties
Section 87.11. Existing policies and contracts
Section 87.12. Limited benefit life policies
Section 87.13. Modified premium life insurance policies
Section 87.21. Scope
Section 87.22. Statements regarding status of industry or company
Section 87.23. Implying that insured is stockholder
Section 87.24. Implying that the policy was sold by the investment department of the company
Section 87.25. Implying special treatment
Section 87.26. Implying limited availability of policy
Section 87.27. Implying that insured will share in surplus company earnings
Section 87.28. Reference to payment as ‘‘deposit.’’
Section 87.29. Illustration of future dividends
Section 87.30. Implying that payment of dividends is assured
Section 87.31. Sharing in percentage of surplus
Section 87.32. Statements concerning projected dividends
Section 87.33. Explanation of nonforfeiture benefits
Section 87.34. Describing policy as ‘‘units of participation.’’
Section 87.35. Misleading prepared answers
Section 87.36. Illustrations using dollar amounts
Section 87.37. Profit from policy lapse or surrender
Section 87.38. Misleading comparisons to other companies
Section 87.39. Misrepresentation of pure annual endowment benefits
Section 87.40. False comparison with other policies
Section 87.41. Misrepresentation of options to purchase insurance
Section 87.42. Misrepresenting the nature of the policy

Notation

Authority

   The provisions of this Chapter 87 issued under sections 635 and 637—639 of The Insurance Department Act of 1921 (40 P. S. § §  275 and 277—279); sections 346—348, 350, 353, 354 and 410 of The Insurance Company Law of 1921 (40 P. S. § §  471—473, 475, 477a, 477b and 510); and The Insurance Unfair Practices Act (40 P. S. § §  1151—1162), unless otherwise noted.

Source

   The provisions of this Chapter 87 adopted January 26, 1969, unless otherwise noted.