This conclusion is consistent with our understanding of the law, and the submissions have not raised any strong objections to it. It is also noted that a different conclusion, i.e., that the product or service advertised is not insurance, would not necessarily result in a favorable ruling for the mailers. The final issue is whether the advertisements for CGAs come within the exception provided in the three-part test in DMM, E670.5.4b. Assuming the first, our understanding that each nonprofit organization offers its own CGAs and promotes them to its own members and supporters, the second factor is also met. An argument can be made that CGAs are commercially available.
Annuities are generally commercially available.