Connecticut Administrative Code › Title 38a - Insurance Department › 819 - Unfair Insurance Practices: Advertisements of Accident and Sickness Insurance › Military Sales Practices › Section 38a-819-73 - Definitions

Current through July 10, 2024
As used in sections
				  38a-819-70 to
				  38a-819-75,
				  inclusive, of the Regulations of Connecticut State Agencies:
(1) "Active Duty" means full-time duty in the
				active military service of the United States and includes members of the
				reserve component (National Guard and Reserve) while serving under published
				orders for active duty or full-time training. The term does not include members
				of the reserve component who are performing active duty or active duty for
				training under military calls or orders specifying periods of less than 31
				calendar days.
(2) "Department of
				Defense (DOD) Personnel" means all active duty service members and all civilian
				employees, including nonappropriated fund employees and special government
				employees, of the Department of Defense.
(3) "Door to Door" means a solicitation or
				sales method whereby an insurance producer proceeds randomly or selectively
				from household to household without prior specific appointment.
(4) "General Advertisement" means an
				advertisement having as its sole purpose the promotion of the reader's or
				viewer's interest in the concept of insurance or in the promotion of the
				insurer or the insurance producer.
(5) "Insurer" means an insurance company
				required to be licensed under the laws of this state to provide life insurance
				products, including annuities.
(6)
				"Insurance producer" means a person required to be licensed under the laws of
				this state to sell, solicit or negotiate life insurance, including
				annuities.
(7) "Known" or
				"Knowingly" means, depending on its use in sections
				38a-819-70 to
				38a-819-75,
				inclusive, of the Regulations of Connecticut State Agencies, the insurance
				producer or insurer had actual awareness, or in the exercise of ordinary care
				should have known, that the person solicited is a service member.
(8) "Life Insurance" means insurance coverage
				on human lives including benefits of endowment and annuities, and may include
				benefits in the event of death or dismemberment by accident and benefits for
				disability income and unless otherwise specifically excluded, includes
				individually issued annuities.
(9)
				"Military Installation" means any federally owned, leased, or operated base,
				reservation, post, camp, building, or other facility to which service members
				are assigned for duty, including barracks, transient housing, and family
				quarters.
(10) "My Pay" means a
				Defense Finance and Accounting Service (DFAS) web-based system that enables
				service members to process certain discretionary pay transactions or provide
				updates to personal information data elements without using paper
				forms.
(11) "Service Member" means
				any active duty officer (commissioned and warrant) or enlisted member of the
				United States Armed Forces.
(12)
				"Side Fund" means a fund or reserve that is part of or otherwise attached to a
				life insurance policy (excluding individually issued annuities) by rider,
				endorsement or other mechanism which accumulates premium or deposits at
				interest or by other means. The term does not include (A) accumulated or cash
				value or secondary guarantees provided by a universal life policy; (B) cash
				values provided by a whole life policy which are subject to standard
				nonforfeiture law for life insurance; (C) or a premium deposit fund which (i)
				contains only premiums paid in advance which accumulate at interest; (ii)
				imposes no penalty for withdrawal; (iii) does not permit funding beyond future
				required premiums; (iv) is not marketed or intended as an investment; and (v)
				does not carry a commission, either paid or calculated.
(13) "Specific Appointment" means a
				prearranged appointment agreed upon by both parties and definite as to place
				and time.
(14) "United States Armed
				Forces" means all components of the Army, Navy, Air Force, Marine Corps, and
				Coast Guard.