Pennsylvania Code (Last Updated: April 5, 2016) |
Title 31. INSURANCE |
PART IV. Life Insurance |
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
The provisions of this Chapter 87 issued under sections 635 and 637639 of The Insurance Department Act of 1921 (40 P. S. § § 275 and 277279); sections 346348, 350, 353, 354 and 410 of The Insurance Company Law of 1921 (40 P. S. § § 471473, 475, 477a, 477b and 510); and The Insurance Unfair Practices Act (40 P. S. § § 11511162), unless otherwise noted.
The provisions of this Chapter 87 adopted January 26, 1969, unless otherwise noted.