reglab/statecodes huggingface dataset:
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.02.03 - CERTIFICATE OF LIABILITY INSURANCE FOR MOTOR VEHICLES › Section 18.02.03.012 - MINIMUM SPECIFICATIONS FOR A CERTIFICATE OF LIABILITY INSURANCE IN LIEU OF THE CONTRACT OF INSURANCE

Current through August 31, 2023
A document constitutes a certificate of liability insurance if
				it has these characteristics: (4-6-23)
01.
Individual-Owned Motor
			 Vehicles
. (4-6-23)
a. Identifies the
			 insurer or surety company authorized to do business in Idaho.
			 (4-6-23)
b. States the name and
			 address of the owner of the insured motor vehicle. (4-6-23)
c. Describes the motor vehicle including an
			 identification number or the words "all owned vehicles" if more than one
			 vehicle is insured. (4-6-23)
d.
			 Shows the date coverage begins. (4-6-23)
e. Shows either that coverage ends after a
			 fixed date or period, or when cancelled. (4-6-23)
f. May show of the insurance policy or
			 document number. (4-6-23)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.02 - LIFE SETTLEMENTS › Section 18.03.02.001 - TITLE AND SCOPE

Current through August 31, 2023
01.
Title
. 18.03.02, "Life Settlements." (3-31-22)
02.
Scope
. This rule sets forth
			 requirements regarding the sale and settlement of life insurance contracts
			 where the owner of the contract is an Idaho resident. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.02 - LIFE SETTLEMENTS › Section 18.03.02.010 - DEFINITIONS

Current through August 31, 2023
01.
Advertising Materials
.
			 (3-31-22)
a. Printed and published material,
			 audio visual material, and descriptive literature of a broker or provider used
			 in direct mail, newspapers, magazines, radio scripts, TV scripts, web sites and
			 other internet displays or communications, other forms of electronic
			 communications, billboards and similar displays; (3-31-22)
b. Descriptive literature and sales aids of
			 all kinds issued by a provider or broker for presentation to members of the
			 insurance buying public, including but not limited to circulars, leaflets,
			 booklets, depictions, illustrations, and form letters; and (3-31-22)
c. Prepared sales talks, presentations and
			 material for use by providers and brokers. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.02 - LIFE SETTLEMENTS › Section 18.03.02.011 - REGISTRATION TO OPERATE AS LIFE SETTLEMENT PROVIDER OR LIFE SETTLEMENT BROKER

Current through August 31, 2023
01.
Registration
. Not later than ten (10) days after first operating
			 as a provider or broker a person will notify the Director that they are acting
			 as a provider or broker by registering with the Department and paying
			 applicable fees as set forth at IDAPA 18.01.02, "Schedule of Fees, Licenses and
			 Miscellaneous Charges". Registration includes information as prescribed by the
			 Director along with a certification from the applicant that they have read and
			 familiarized themselves with the requirements of Sections
			 41-1950 through
			 41-1965, Idaho Code, and these
			 rules. (3-31-22)
02.
Renewal
			 of Registration
. Registration as a broker or provider continues until
			 the next renewal date of the person's producer license. If the initial
			 registration takes place within ninety (90) calendar days from the producer
			 license expiration date, registration will continue until the following
			 producer license renewal date. Registration may be renewed by payment of the
			 applicable renewal fee as set forth at IDAPA 18.01.02. An insurance producer
			 who allows their registration as a broker or provider to lapse may, within
			 twelve (12) months from the renewal due date, reinstate the registration by
			 paying a penalty in the amount of double the unpaid renewal fee. If a
			 registration is allowed to lapse for more than twelve (12) months without
			 reinstatement, a producer wishing to act a broker or provider will re-register
			 with the Department and pay the applicable registration fee prior to operating
			 as a broker or provider. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.02 - LIFE SETTLEMENTS › Section 18.03.02.013 - ANNUAL REPORTING REQUIREMENTS

Current through August 31, 2023
All persons registered with the Director as a provider will
				file an annual statement with the Director, on or before March 1st of each
				year. An annual report is needed regardless of whether any life settlement
				contracts with Idaho owners were executed during the year. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.02 - LIFE SETTLEMENTS › Section 18.03.02.014 - EXAMINATION AND RECORDS

Current through August 31, 2023
Brokers and providers are subject to examination by the
				Director in accordance with Title 41, Chapter 2, Idaho Code, and pay, at the
				direction of the Director, the actual travel expenses, reasonable living
				expense allowance, and reasonable compensation incurred on account of the
				examination upon presentation of a detailed account of the charges and
				expenses. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.02 - LIFE SETTLEMENTS › Section 18.03.02.016 - ADDITIONAL REQUIREMENTS

Current through August 31, 2023
01.
Owner's
			 Statement
. (3-31-22)
a. Prior to
			 entering into a life settlement contract, the provider obtains from each owner
			 a written statement in substantially the following form: "I, [owners name],
			 have freely and voluntarily consented to the life settlement contract that
			 accompanies this statement. I have carefully read my insurance policy that is
			 the subject of the life settlement contract and I understand the benefits that
			 are available under the policy. I further understand that by entering into the
			 life settlement contract, the right to benefits under the insurance policy will
			 be sold to another party and I, my heirs or former beneficiaries will no longer
			 have any right to receive those policy benefits." (3-31-22)
b. If the owner has a terminal or chronic
			 illness, the following wording is also to be included in the owner's statement:
			 "I am currently suffering from a terminal or chronic illness that was not
			 diagnosed until after the policy that is the subject of the life settlement
			 contract was issued." (3-31-22)
c.
			 The statement of the owner needs to also be acknowledged by a notary public.
			 (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.03 - VARIABLE CONTRACTS › Section 18.03.03.001 - PURPOSE

Current through August 31, 2023
To provide a comprehensive plan: for the qualification and
				licensing of insurers to write policies or contracts on a variable basis; for
				establishment of separate accounts and the investment of assets contained
				therein; for the filing and approval of policy and contract forms; for reports
				to contract holders; for the qualification, examination and licensing of agents
				and other persons; providing for the establishment and preservation of certain
				records and the establishment of other standards pertaining to the offering and
				sale of such contracts. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.03 - VARIABLE CONTRACTS › Section 18.03.03.010 - DEFINITIONS

Current through August 31, 2023
01.
Variable Contracts
. Any
			 policy or contract that provides for insurance or annuity benefits which vary
			 according to the investment experience of any separate account or accounts
			 maintained by the insurer as to such policy or contract. (3-31-22)
02.
Agent
. Any person,
			 corporation, partnership, or other legal entity which under the laws of this
			 state is licensed as a life insurance agent. (3-31-22)
03.
Variable Contract Agent
. An
			 agent who sells or offers to sell any contract on a variable basis.
			 (3-31-22)
04.
Satisfactory
			 Alternative Examination
. Part I of the written examination includes any
			 securities examination that is declared by the Director to be an equivalent
			 examination. The following are satisfactory alternative examinations: (3-31-22)
a. The Financial Industry Regulatory
			 Authority (FINRA), Examination for Principals, or Examination for Qualification
			 as a Registered Representative; (3-31-22)
b. The various securities examinations needed
			 by the New York Stock Exchange, the American Stock Exchange, or the Pacific
			 Coast Stock Exchange; (3-31-22)
c.
			 The Securities and Exchange Commission test given pursuant to Section
			 15(b)(8)  of the
			 Securities Exchange Act of 1934, as amended; (3-31-22)
d. The examination recommended for the
			 testing of variable contract agents by the National Association of Insurance
			 Commissioners, when adopted by the Insurance Department of any State or
			 Territory of the United States and approved for use by such Department by the
			 Securities and Exchange Commission; and (3-31-22)
e. Any State Securities Sales Examination
			 accepted by the Securities and Exchange Commission.
			 (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.03 - VARIABLE CONTRACTS › Section 18.03.03.011 - QUALIFICATIONS OF INSURANCE COMPANIES TO ISSUE VARIABLE CONTRACTS

Current through August 31, 2023
01.
Parent or Affiliated
			 Insurer
. An insurer that issues variable contracts and that is a
			 subsidiary of, or affiliated through common management or ownership with,
			 another life insurer authorized to transact such insurance in this state meets
			 the provisions of this Section if either it or the parent or affiliated insurer
			 meets the provisions hereof. (3-31-22)
02.
Delivery
. Before any insurer
			 delivers or issues for delivery variable contracts in this state, it will
			 submit to the Director a general description of the kinds of variable contracts
			 it intends to issue; (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.03 - VARIABLE CONTRACTS › Section 18.03.03.012 - SEPARATE ACCOUNTS

Current through August 31, 2023
01.
Domestic
			 Life Insurer
. A domestic life insurer issuing variable contracts and
			 establishing one (1) or more separate accounts pursuant to Sections
			 41-1936 and
			 41-734 of the Idaho Insurance Code
			 is subject to the following provisions: (3-31-22)
a. To the extent that the company's reserve
			 liability with regard to:
(a) benefits
			 guaranteed as to dollar amount and duration, and
(b) funds guaranteed as to principal amount
			 or stated rate of interest is maintained in any separate account, a portion of
			 the assets of such separate account at least equal to such reserve liability
			 are invested in accordance with the laws of this state governing the
			 investments of life insurance companies. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.03 - VARIABLE CONTRACTS › Section 18.03.03.013 - FILING OF CONTRACTS

Current through August 31, 2023
Each insurer will submit to the Director a copy of each
				prospectus adopted by it for use in conjunction with the sale of any contract
				offered for sale in this state. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.03 - VARIABLE CONTRACTS › Section 18.03.03.014 - CONTRACTS PROVIDING FOR VARIABLE BENEFITS

Current through August 31, 2023
01.
Illustrations
. Illustrations of benefits payable under any
			 variable contract providing benefits payable in variable amounts cannot include
			 projections of past investment experience into the future or attempted
			 predictions of future investment experience. (3-31-22)
02.
Payment of Periodic Stipulated
			 Payments
. No individual variable annuity contract calling for the
			 payment of periodic stipulated payments will be delivered or issued for
			 delivery unless it contains in substance the following provisions or provisions
			 which are more favorable to the holders of such contracts: (3-31-22)
a. The grace period is for one (1) month, but
			 not less than thirty (30) days, in which any stipulated payment to the insurer
			 falling due after the first may be made, during which period of grace the
			 contract will continue in force. The contract may include a statement of the
			 basis for determining the date that any such payment received during the period
			 of grace is applied to produce the values under the contract;
			 (3-31-22)
b. At any time within one
			 (1) year from the date of default in making periodic stipulated payments to the
			 insurer during the life of the annuitant, unless the cash surrender value has
			 been paid, the contract may be reinstated upon payment to the insurer of such
			 overdue payments as prescribed by the contract, and payment or reinstatement of
			 all indebtedness to the insurer on the contract, including interest. The
			 contract may include a statement of the basis for determining the date which
			 the amount to cover such overdue payments and indebtedness is applied to
			 produce the values under the contract; (3-31-22)
c. Specifying the options available in the
			 event of default in a periodic stipulated payment, which may include an option
			 to surrender the contract for a cash value as determined by the contract, and
			 will include an option to receive a paid-up annuity if the contract is not
			 surrendered for cash, the amount of such paid-up annuity being determined by
			 applying the value of the contract at the annuity commencement date in
			 accordance with the terms of the contract. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.03 - VARIABLE CONTRACTS › Section 18.03.03.015 - REQUISITE REPORTS

Current through August 31, 2023
01.
Statement
			 Reporting the Investments
. Any insurer issuing individual variable
			 contracts providing benefits in variable amounts will mail to the contract
			 holder at least once in each contract year after the first at the last address
			 known to the company, a statement or statements reporting the investments held
			 in the separate account and, in the case of contracts under which payments have
			 not yet commenced, a statement reporting as of a date not more than four (4)
			 months previous to the date of mailing, (a) the number of accumulation units
			 credited to such contracts and the dollar value of a unit, or (b) the value of
			 the contract holder's account. (3-31-22)
02.
Statement of Business to
			 Director
. The insurer will submit annually to the Insurance Director a
			 statement of the business of its separate account or accounts in such form as
			 may be prescribed by the National Association of Insurance Commissioners.
			 (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.03 - VARIABLE CONTRACTS › Section 18.03.03.016 - FOREIGN INSURERS

Current through August 31, 2023
If the law or rule in the place of domicile of a foreign
				insurer provides a degree of protection to the policyholders and the public
				which is substantially equal to that provided by these rules, the Director, at
				their discretion, may consider compliance with such law or rule as compliance
				with these rules. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.04 - REPLACEMENT OF LIFE INSURANCE AND ANNUITIES › Section 18.03.04.001 - TITLE AND SCOPE

Current through August 31, 2023
This rule regulates the activities of insurers, agents and
				brokers with respect to the replacement of existing life insurance and
				annuities, and establishes minimum standards of conduct. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.04 - REPLACEMENT OF LIFE INSURANCE AND ANNUITIES › Section 18.03.04.010 - DEFINITIONS

Current through August 31, 2023
01.
Conservation
. Any attempt by
			 the existing insurer or its agent or broker to dissuade a policy owner from the
			 replacement of existing life insurance or annuity. Conservation does not
			 include such routine administrative procedures such as late payment reminders,
			 late payment offers or reinstatement offers. (3-31-22)
02.
Direct-Response Sales
. Any
			 sale of life insurance or annuity where the insurer does not utilize an agent
			 in the sale or delivery of the policy. (3-31-22)
03.
Existing Insurer
. The
			 insurance company whose policy is or will be changed or terminated in such a
			 manner as described in the definition of "replacement." (3-31-22)
04.
Existing Life Insurance or
			 Annuity
. Any life insurance or annuity in force, including life
			 insurance under a binding or conditional receipt or a life insurance policy or
			 annuity that is in an unconditional refund period. (3-31-22)
05.
Replacement
. Any transaction
			 by which new life insurance or a new annuity is to be purchased, and it is
			 known or should be known to the proposing agent or broker, or to the proposing
			 insurer if there is no agent, that existing life insurance or an annuity has
			 been or is to be: (3-31-22)
a. Termination.
			 Lapsed, forfeited, surrendered, or otherwise terminated. (3-31-22)
b. Conversion or Continuance. Converted to
			 reduced paid-up insurance, continued as extended term insurance, or reduced in
			 value by the use of nonforfeiture benefits or other policy values.
			 (3-31-22)
c. Amendment. Amended so
			 as to effect either a reduction in benefits or in the term for which coverage
			 would remain in force or for which benefits would be paid. (3-31-22)
d. Reissuance. Reissued with any reduction in
			 cash value. (3-31-22)
e. Loans.
			 Pledged as collateral or subjected to borrowing, whether in a single loan or
			 under a schedule of borrowing over a period of time for amounts in the
			 aggregate exceeding twenty-five percent (25%) of the loan value set forth in
			 the policy. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.04 - REPLACEMENT OF LIFE INSURANCE AND ANNUITIES › Section 18.03.04.011 - EXEMPTIONS

Current through August 31, 2023
Unless specifically included, this rule does not apply to
				transactions involving: (3-31-22)
01.
Credit Life Insurance
. (3-31-22)
02.
Group Life Insurance or Group
			 Annuities
. (3-31-22)
03.
Existing Insurer
. An application to the insurer that issued the
			 existing life insurance and a contractual change or conversion privilege being
			 exercised; (3-31-22)
04.
Binding or Conditional Receipt Issued by Same Company
. Proposed
			 life insurance that is to replace life insurance under a binding or conditional
			 receipt issued by the same company. (3-31-22)
05.
Common Ownership or Control
.
			 Transactions where the replacing insurer and the existing insurer are the same,
			 or are subsidiaries or affiliates under common ownership or control. Provided,
			 however, agents or brokers proposing replacement will comply with the
			 requirements of Subsection
			 012.01. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.04 - REPLACEMENT OF LIFE INSURANCE AND ANNUITIES › Section 18.03.04.012 - DUTIES OF AGENTS AND BROKERS

Current through August 31, 2023
01.
Statement
			 Submitted to Insurer
. Each agent or broker who initiates the application
			 submits to the insurer to which an application for life insurance or annuity is
			 presented, with or as part of each application: (3-31-22)
a. A statement signed by the applicant as to
			 whether replacement of existing life insurance or annuity is involved in the
			 transaction; and (3-31-22)
b. A
			 signed statement as to whether the agent or broker knows replacement is or may
			 be involved in the transaction. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.04 - REPLACEMENT OF LIFE INSURANCE AND ANNUITIES › Section 18.03.04.013 - DUTIES OF ALL INSURERS

Current through August 31, 2023
Each insurer will: (3-31-22)
01.
Notice to Representatives of
			 Rule
. Informs its field representatives or other personnel responsible
			 for compliance with this rule of the requirements of this rule.
			 (3-31-22)
02.
Application
. Requires with or as a part of each completed
			 application for life insurance or annuity a statement signed by the applicant
			 as to whether such proposed insurance or annuity will replace existing life
			 insurance or annuity. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.04 - REPLACEMENT OF LIFE INSURANCE AND ANNUITIES › Section 18.03.04.015 - DUTIES OF INSURERS WITH RESPECT TO DIRECT RESPONSE SALES

Current through August 31, 2023
01.
Insurer Did Not Propose
			 Replacement
. If in the solicitation of a direct response sale, the
			 insurer did not propose the replacement, and a replacement is involved, the
			 insurer will propose to send to the applicant with the policy a Replacement
			 Notice as described on the DOI website or other substantially similar form
			 approved by the Director. (3-31-22)
02.
Insurer Proposed
			 Replacement
. If the insurer proposed the replacement it will: (3-31-22)
a. Provide to applicants or prospective
			 applicants with or as part of the application a replacement notice as described
			 on the DOI website or other substantially similar form approved by the
			 Director. (3-31-22)
b. Request from
			 the applicant with or as part of the application, a list of all existing life
			 insurance or annuities replaced and properly identified by name of insurer and
			 insured. (3-31-22)
c. Comply with
			 the requirements of Subsection
			 014.02.b., if the applicant
			 furnishes the names of the existing insurers, and the requirements of
			 Subsection 014.03, except that it need not
			 maintain a replacement register. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.04 - REPLACEMENT OF LIFE INSURANCE AND ANNUITIES › Section 18.03.04.016 - PENALTIES

Current through August 31, 2023
Failure by an insurer, agent, representative, officer, or
				employee of such insurer to comply with the requirements of this rule is
				subject to such penalties as may be appropriate under the Idaho Code, including
				Section 41-1327, Idaho Code.
				(3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.05 - CREDIT LIFE AND CREDIT DISABILITY INSURANCE › Section 18.03.05.000 - LEGAL AUTHORITY

Current through August 31, 2023
Title 41, Chapters 2 and 23, Sections
				41-211 and
				41-2314, Idaho Code.
				(3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.05 - CREDIT LIFE AND CREDIT DISABILITY INSURANCE › Section 18.03.05.001 - SCOPE

Current through August 31, 2023
This rule protects the interests of debtors and the public in
				this state by providing a system of rate, policy form, and operating standards
				for the transaction of credit life and credit disability insurance. Nothing in
				this rule chapter applies to insurance for which no identifiable charge is made
				to the debtor. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.05 - CREDIT LIFE AND CREDIT DISABILITY INSURANCE › Section 18.03.05.010 - DEFINITIONS

Current through August 31, 2023
The definitions set forth in Chapters 2 and 23 are applicable
				to these rules. In addition, the following terms have the meanings set forth
				below. (3-31-22)
01.
Closed-End
			 Credit
. A credit transaction that is not open-end credit.
			 (3-31-22)
02.
Compensation
. Money or anything else of value. (3-31-22)
03.
Credit Insurance
. Means
			 credit life insurance and credit disability insurance. (3-31-22)
04.
Credit Transaction
. Any
			 transaction by the terms of which the repayment of money loaned or loan
			 commitment made, or payment for goods, services or properties sold or leased,
			 is to be made at a future date or dates. (3-31-22)
05.
Identifiable Charge
. The
			 amount the debtor is charged for insurance which is disclosed in the credit or
			 other instrument furnished the debtor which sets out the financial elements of
			 the credit transactions, and including any differential in finance, interest,
			 service or other similar charge made to debtors who are in like circumstances,
			 except for their insured or noninsured status. (3-31-22)
06.
Net Written Premium
. A gross
			 written premium minus refunds on terminations. (3-31-22)
07.
Open-End Credit
. An
			 arrangement as defined in Section
			 28-41-301(26),
			 Idaho Code, including revolving charge accounts. (3-31-22)
08.
Pre-existing Condition
. A
			 health condition, including sickness or injury, for which there has been
			 medical advice, diagnosis or treatment within six (6) months preceding the
			 effective date of the debtor's coverage and which exists prior to the effective
			 date of the coverage. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.05 - CREDIT LIFE AND CREDIT DISABILITY INSURANCE › Section 18.03.05.011 - RIGHTS AND TREATMENT OF DEBTORS

Current through August 31, 2023
01.
Multiple
			 Plans of Insurance
. If a creditor makes available to the debtors more
			 than one (1) plan of credit life insurance or more than one (1) of credit
			 disability insurance, all debtors are to be informed of all such plans for
			 which they are eligible. (3-31-22)
02.
Substitution
. When a
			 creditor requires credit life insurance, credit disability insurance, or both,
			 as additional security for an indebtedness, the debtor will be given the option
			 of furnishing the amount of insurance through existing policies of insurance
			 owned or controlled by the debtor or by procuring and furnishing the coverage
			 through any insurer authorized to transact insurance business in this state. If
			 this subsection is applicable, the debtor will be informed by the creditor of
			 the right to provide alternative coverage before the transaction is completed.
			 (3-31-22)
03.
Termination of
			 Group Credit Insurance Policy
. (3-31-22)
a. If a debtor is covered by a group credit
			 insurance policy providing for the payment of single premiums to the insurer,
			 then provision will be made by the insurer that in the event of termination of
			 the policy for any reason, insurance coverage with respect to any debtor
			 insured under such policy is to be continued for the entire period for which
			 the single premium has been paid. (3-31-22)
b. If a debtor is covered by a group credit
			 insurance policy providing for the payment of premiums to the insurer on a
			 monthly outstanding balance basis, then the policy will provide that, in the
			 event of termination of such policy for whatever reason, termination notice
			 will be given to the insured debtor at least thirty (30) days prior to the
			 effective date of termination except where replacement of the coverage by the
			 same or another insurer in the same or greater amount takes place without lapse
			 of coverage. The requisite notice is given by the insurer or, at the option of
			 the insurer, by the creditor. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.05 - CREDIT LIFE AND CREDIT DISABILITY INSURANCE › Section 18.03.05.013 - DETERMINATION OF REASONABLENESS OF BENEFITS IN RELATION TO PREMIUM CHARGE

Current through August 31, 2023
01.
General Standard
. Benefits
			 provided by credit insurance policies need to be reasonable in relation to the
			 premium charged. This requirement is satisfied if the premium rate charged
			 develops or is expected to develop a loss ratio of not less than fifty percent
			 (50%). The Department of Insurance has established prima facie rates as a means
			 to achieve the loss ratio benchmark. With the exception of deviations approved
			 under Section 019, prima
			 facie rates filed in accordance with Section
			 014 as adjusted pursuant to Section
			 018, may be conclusively presumed
			 to satisfy this general standard. (3-31-22)
02.
Nonstandard Coverage
. If any
			 insurer files for approval of any form, providing coverage more restrictive
			 than that described in Section
			 014, the insurer will demonstrate
			 to the satisfaction of the director that the premium rates to be charged for
			 such restricted coverage will develop or may reasonably be expected to develop
			 a loss ratio not less than that contemplated for standard coverage at the
			 premium rates described in these sections. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.05 - CREDIT LIFE AND CREDIT DISABILITY INSURANCE › Section 18.03.05.014 - PRIMA FACIE RATES

Current through August 31, 2023
01.
Credit
			 Life Insurance Prima Facie Rates
. (3-31-22)
a. The Director will post on the Department's
			 website the prima facie rates for credit life insurance that are to be used.
			 (3-31-22)
b. If the benefits
			 provided are other than those described in Paragraph 014.0l.a., premium rates
			 for such benefits will be actuarially consistent with the rates provided in
			 Paragraph 014.0l.a. (3-31-22)
c. If
			 the policy provisions are other than those that correspond to the use of rates
			 provided for in this subsection, those other provisions will not be unfair,
			 unjust, inequitable, misleading, or deceptive; encourage misrepresentation of
			 the coverage; or be contrary to statute or administrative rule.
			 (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.05 - CREDIT LIFE AND CREDIT DISABILITY INSURANCE › Section 18.03.05.015 - CREDIT LIFE INSURANCE

Current through August 31, 2023
Premium rates in conformance with Section
				014 apply to policies providing
				credit life insurance to be issued with or without evidence of insurability, to
				be offered to all debtors, and containing: (3-31-22)
01.
Exclusions
. No exclusions
			 other than suicide within six (6) months of the incurred indebtedness; and
			 (3-31-22)
02.
Age
			 Restrictions
. Either no age restrictions or age restrictions making
			 ineligible for coverage debtors sixty-five (65) or over at the time the
			 indebtedness is incurred or debtors having attained age seventy (70) or over on
			 the maturity date of the indebtedness. (3-31-22)
03.
Open-End Credit Plan
.
			 Insurance written in connection with an open-end credit plan may exclude from
			 the classes eligible for insurance, classes of debtors determined by age, and
			 provide for the cessation of insurance or reduction in the amount of insurance
			 upon attainment of not less than age sixty-five (65). (3-31-22)
04.
Closed-End Credit Plans
. On
			 insurance written in connection with closed-end credit plans and open-end
			 credit plans where the amount of insurance is based on or limited to the
			 outstanding unpaid balance, no provision excluding or denying a claim for death
			 resulting from a pre-existing condition except for those conditions for which
			 the insured debtor received medical advice, diagnosis or treatment within six
			 (6) months preceding the effective date of coverage and which caused or
			 substantially contributed to the death of the insured debtor within six (6)
			 months following the effective date of coverage. The effective date of coverage
			 for each part of the insurance attributable to a different advance or charge to
			 the plan account is the date on which the advance or charge is posted to the
			 plan account. Other more restrictive provisions may be used subject to
			 appropriate rate adjustment approved by the director. (3-31-22)
05.
Other Provisions
. If the
			 policy provisions are other than those that correspond to the use of rates
			 provided for in Section
			 014, those other provisions are not
			 to be unfair, unjust, inequitable, misleading, or deceptive; encourage
			 misrepresentation of the coverage; or be contrary to statute or administrative
			 rule. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.05 - CREDIT LIFE AND CREDIT DISABILITY INSURANCE › Section 18.03.05.017 - REFUND FORMULAS

Current through August 31, 2023
01.
Filing
			 and Approval by the Director
. Any refund formula that is at least as
			 favorable to the insured debtor as the "sum of the digits" formula, or the
			 "Rule of 78," for single premium decreasing or disability plans or pro-rata for
			 other plans, will be deemed acceptable. (3-31-22)
02.
Termination
. In the event of
			 termination, no charge for credit insurance may be made for the first fifteen
			 (15) days of a loan month and a full month may be charged for sixteen (16) days
			 or more of a loan month. (3-31-22)
03.
Minimum Refund
. No refund of
			 five dollar ($5) or less need be made. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.05 - CREDIT LIFE AND CREDIT DISABILITY INSURANCE › Section 18.03.05.018 - EXPERIENCE REPORTS AND ADJUSTMENT OF PRIMA FACIE RATES

Current through August 31, 2023
01.
Report of Credit Life and Credit
			 Disability Business Written
. Each insurer doing credit insurance
			 business in this state will annually file with the Director and the NAIC
			 Support and Services Office a report of credit life and credit disability
			 business written on a calendar year basis. Such report will utilize the Credit
			 Insurance Supplement-Annual Statement Blank as approved by the National
			 Association of Insurance Commissioners. Such filing will be made in accordance
			 with and no later than the due date in the Instructions to the Annual
			 Statement. (3-31-22)
02.
Review of Loss Ratio Standards
. On a triennial basis beginning in
			 1995, the director will review the loss ratio standards set forth in Section
			 013 and the prima facie rates set
			 forth in Section 014 and
			 determine therefrom the rate of expected claims on a statewide basis, compare
			 such rate of expected claims with the rate of actual claims for the preceding
			 three years determined from the incurred claims and earned premiums at prima
			 facie rates reported in the Annual Statement Supplement, and may, if deemed
			 necessary, revise the actual statewide prima facie rates to be used by insurers
			 during the next three (3) years. Such rates will reflect the difference between
			 (a) actual claims based on experience; and (b) expected claims based on the
			 loss ratio standards set forth in Section
			 013 applied to the prima facie
			 rates set forth in Section
			 014. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.05 - CREDIT LIFE AND CREDIT DISABILITY INSURANCE › Section 18.03.05.019 - USE OF RATES - DIRECT BUSINESS ONLY

Current through August 31, 2023
01.
Use of
			 Prima Facie Rates
. An insurer that files rates or has rates on file not
			 in excess of the prima facie rates shown in Section
			 014, to the extent adjusted
			 pursuant to Section 018, may use
			 those rates without further proof of their reasonableness. (3-31-22)
02.
Use of Rates Higher Than Prima
			 Facie Rates
. An insurer may file for approval of and use rates higher
			 than the prima facie rates established pursuant to Section
			 018, to the extent adjusted, if it
			 can be expected that the use of such higher rates will result in a ratio of
			 claims incurred to premiums earned (assuming the use of such higher rates) not
			 less than fifty percent (50%) for those accounts to which such higher rates
			 apply and that such upward deviations will not result on a statewide basis for
			 that insurer of a ratio of claims incurred to premiums earned of less than the
			 expected loss ratio underlying the current prima facie rate developed or
			 adjusted pursuant to Section
			 018. If rates higher than the prima
			 facie rates shown in Section
			 014, to the extent adjusted
			 pursuant to Section 018, are
			 filed for approval, the filing will specify the accounts to which such rates
			 apply. Such rates may be: (3-31-22)
a. Applied
			 uniformly to all accounts of the insurer; or (3-31-22)
b. Applied on an equitable basis approved by
			 the Director to only one (1) or more accounts of the insurer for which the
			 experience has been less favorable than expected; or (3-31-22)
c. Applied according to a case-rating
			 procedure on file with the director. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.05 - CREDIT LIFE AND CREDIT DISABILITY INSURANCE › Section 18.03.05.020 - SUPERVISION OF CREDIT INSURANCE OPERATIONS

Current through August 31, 2023
01.
Responsibilities of Insurer
. Each insurer transacting credit
			 insurance in this state is responsible for the settlement, adjustment and
			 payment of all claims and is responsible for conducting a thorough periodic
			 review of creditors with respect to their credit insurance business with such
			 creditors, to assure compliance with the insurance laws of this state and the
			 rules promulgated by the Director. Such review needs to include, but not be
			 limited to, a verification of the accuracy of premium payments or other
			 identifiable charges, premium refunds, and claims incurred. (3-31-22)
02.
Maintenance of Records
.
			 Records of such reviews will be maintained for four (4) years for review by the
			 director. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.05 - CREDIT LIFE AND CREDIT DISABILITY INSURANCE › Section 18.03.05.021 - PRODUCER'S LICENSE NEEDED

Current through August 31, 2023
01.
Life and
			 Disability Insurance License or Limited License
. Except as provided in
			 this section, to solicit credit life and credit disability insurance, producer
			 is: licensed to sell life and disability insurance; or issued an appropriate
			 "Limited License". (3-31-22)
02.
Administration of Group Policy
. Under Section
			 41-1005(2)(b),
			 Idaho Code, the issuance of group certificates of credit life insurance and
			 credit disability insurance and the performance of other ministerial duties in
			 connection with group insurance policy administration does not need the person
			 doing such acts to be licensed as a producer provided that no commission is
			 paid for such services. A group policyholder may be reimbursed its expense of
			 administering a group policy without being licensed as a producer, and such
			 reimbursement will not be considered a commission provided it is reasonably
			 computed to equate to the actual administrative expenses. It will be presumed
			 that an amount of reimbursement not exceeding ten percent (10%) of the net
			 written prima facie premium for the group policy is reasonably computed to
			 equate to the administrative expenses of the group policyholder. Amounts
			 exceeding ten percent (10%) of the net written prima facie premium will be
			 presumed to exceed actual administrative expenses unless prior approval to pay
			 such greater amount is secured pursuant to the insurer demonstrating to the
			 director's satisfaction that such higher amount does not exceed the
			 policyholder's actual administrative expenses. For purposes of this subsection,
			 "prima facie premium" means premiums at the rates set forth in Section
			 014 without adjustment pursuant to
			 Section 018.
			 (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.03.05 - CREDIT LIFE AND CREDIT DISABILITY INSURANCE › Section 18.03.05.022 - DISCLOSURE

Current through August 31, 2023
When a premium or identifiable charge is payable by a debtor
				for credit insurance coverage offered by a creditor, at the time such insurance
				is applied for, disclosures will be made to the principal debtor and copies
				given and retained, in accordance with State and Federal law. The creditor will
				also disclose the optional nature of the coverage, premium or identifiable
				charge separately by type of coverage, eligibility requirements, and policy
				limitations and exclusions. These disclosures need to be made prominently above
				the space for the signature indicating election to obtain such coverage. These
				disclosures may be made in conjunction with either (1) the Federal
				Truth-in-Lending disclosure, (2) a Notice of Proposed Insurance, or (3) the
				insurance policy or certificate. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.04.01 - HEALTH CARRIER EXTERNAL REVIEW › Section 18.04.01.001 - SCOPE

Current through August 31, 2023
This rule sets forth uniform requirements to be followed by
				health carriers and independent review organizations in implementing external
				review procedures in accordance with Title 41, Chapter 59, Idaho Code.
				(3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.04.01 - HEALTH CARRIER EXTERNAL REVIEW › Section 18.04.01.010 - DEFINITIONS

Current through August 31, 2023
The definitions set forth in Title 41, Chapter 2 and 59 are
				applicable to these rules. In addition, the following term has the following
				meaning: (3-31-22)
01.
URAC
. The nationally recognized private health care accreditation
			 organization based in Washington, D.C., that accredits independent review
			 organizations. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.04.01 - HEALTH CARRIER EXTERNAL REVIEW › Section 18.04.01.020 - NOTICE OF RIGHT TO EXTERNAL REVIEW

Current through August 31, 2023
01.
Disclosure to Covered Persons
. Health carriers will provide
			 external review procedures to covered persons as per Chapter 59, Title 41 and
			 in manner as directed by the Department. (3-31-22)
02.
Notice to Covered Person
. In
			 accordance with Chapter 59, Title 41: (3-31-22)
a. The written notice of the covered person's
			 right to request an external review is to use the form posted on the
			 Department's website or is substantially similar. Health carriers are to submit
			 notice forms to the Director for approval; and (3-31-22)
b. The written notice sent by the health
			 carrier as prescribed by this subsection is to include an authorization form to
			 disclose protected health information in compliance with the federal regulation
			 and in a manner as approved by the Department. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.04.01 - HEALTH CARRIER EXTERNAL REVIEW › Section 18.04.01.021 - REQUEST FOR EXTERNAL REVIEW

Current through August 31, 2023
01.
Request
			 Form
. The form for a covered person to request an external review will
			 be available from the Department and will be posted on the Department's web
			 site. (3-31-22)
02.
Authorization Form
. The covered person's request for an external
			 review is to include an authorization form to disclose protected health
			 information prescribed in Paragraph 020.02.b. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.04.01 - HEALTH CARRIER EXTERNAL REVIEW › Section 18.04.01.022 - HEALTH CARRIER NOTICE OF INITIAL DETERMINATION OF AN EXTERNAL REVIEW REQUEST

Current through August 31, 2023
Health carriers are to use the form posted on the Department's
				website or one substantially similar as determined by the Department.
				(3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.04.01 - HEALTH CARRIER EXTERNAL REVIEW › Section 18.04.01.023 - APPROVAL OF INDEPENDENT REVIEW ORGANIZATIONS

Current through August 31, 2023
01.
Application for Registration
. Independent review organizations
			 need to apply to the department on the requisite form and pay the applicable
			 fees, as set forth at IDAPA 18.01.02, to be registered to perform external
			 reviews. (3-31-22)
02.
Notice
			 to Director
. (3-31-22)
a. An
			 independent review organization will notify the Director in writing within
			 thirty (30) days of the date the independent review organization is no longer
			 accredited by a nationally recognized private accrediting entity or no longer
			 satisfies the minimum requirements established under Title 41, Chapter 59,
			 Idaho Code and this rule. (3-31-22)
b. Any change in the independent review
			 organization's schedule of costs and fees for performing external reviews need
			 to be submitted to the Director at least sixty (60) days before the effective
			 date of the change. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.04.01 - HEALTH CARRIER EXTERNAL REVIEW › Section 18.04.01.024 - VOLUNTARY ELECTION BY ERISA PLAN ADMINISTRATOR

Current through August 31, 2023
01.
Written Notice and Compliance
. If a single employer self-funded
			 ERISA employee benefit plan administrator or designee voluntarily elects to
			 comply with Title 41, Chapter 59, Idaho Code, the administrator or designee
			 will comply with all provisions of Title 41, Chapter 59, Idaho Code, and this
			 rule, as if it were a health carrier and, in a manner, as approved by the
			 department on forms posted on the Department's website. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.04.02 - RULE TO IMPLEMENT UNIFORM COVERAGE FOR NEWBORN AND NEWLY ADOPTED CHILDREN › Section 18.04.02.001 - SCOPE

Current through August 31, 2023
This rule sets forth uniform definitions and requirements to be
				followed by health plans regarding involuntary complications of pregnancy and
				coverage to newborn and newly adopted children. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.04.02 - RULE TO IMPLEMENT UNIFORM COVERAGE FOR NEWBORN AND NEWLY ADOPTED CHILDREN › Section 18.04.02.010 - DEFINITIONS

Current through August 31, 2023
As used in this chapter the following terms have the following
				meanings. (3-31-22)
01.
Congenital Anomaly
. A condition existing at or from birth that is
			 a significant deviation from the common form or function of the body, impairing
			 the function of the body, whether caused by a hereditary or developmental
			 defect or disease. (3-31-22)
02.
Health Plan
. Any type of benefit plan or contract of coverage
			 subject to the requirements of Title 41, Chapters 21, 22, 34, 39, 40, or 41,
			 Idaho Code, which provides coverage for injury or sickness. (3-31-22)
03.
Health Plan Member
. A person
			 entitled to benefits as a member, subscriber or insured under a health plan and
			 who, under the terms of the health plan contract, may add dependents for
			 coverage under the health plan. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.04.02 - RULE TO IMPLEMENT UNIFORM COVERAGE FOR NEWBORN AND NEWLY ADOPTED CHILDREN › Section 18.04.02.011 - COVERAGE REQUIREMENTS OF NEWBORN AND NEWLY ADOPTED CHILDREN

Current through August 31, 2023
01.
Coverage
. A health plan will
			 provide coverage to: (3-31-22)
a. A newborn
			 child and (3-31-22)
b. A newly
			 adopted child. (3-31-22)
Idaho Administrative Code › Title IDAPA 18 - Insurance, Department of › Rule 18.04.02 - RULE TO IMPLEMENT UNIFORM COVERAGE FOR NEWBORN AND NEWLY ADOPTED CHILDREN › Section 18.04.02.021 - COVERAGE OF INVOLUNTARY COMPLICATIONS OF PREGNANCY

Current through August 31, 2023
Involuntary complications of pregnancy, as that term is used in
				Title 41, Idaho Code, also includes but is not limited to: ectopic pregnancy
				which is terminated; spontaneous termination of pregnancy which occurs during a
				period of gestation in which a viable birth is not possible; and conditions
				requiring hospital confinement (when the pregnancy is not terminated), whose
				diagnoses are distinct from pregnancy but are adversely affected by pregnancy
				or are caused by pregnancy, such as acute nephritis, nephrosis, cardiac
				decompensation, missed abortion and similar medical and surgical conditions of
				comparable severity, but not false labor, occasional spotting, physician
				prescribed rest during the period of pregnancy, morning sickness, hyperemesis
				gravidarum, preeclampsia and similar conditions associated with the management
				of a difficult pregnancy not constituting a nosologically distinct complication
				of pregnancy. (3-31-22)