Florida Administrative Code › 69 - DEPARTMENT OF FINANCIAL SERVICES › 69B - Division of Insurance Agent and Agency Services › Chapter 69B-150 - LIFE AND HEALTH ADVERTISING REQUIREMENTS › Section 69B-150.107 - Advertisements of Proceeds Payable, Premiums Payable, or Limited, Graded, or Modified Features

Current through Reg. 50, No. 138; July 16, 2024
(1) Deceptive
				Words, Phrases, or Illustrations Prohibited.
(a) No advertisement shall omit information
				or use words, phrases, statements, references or illustrations if such omission
				or such use has the capacity, tendency or effect of misleading or deceiving
				purchasers or prospective purchasers as to the nature or extent of any policy
				or contract benefit payable, loss covered or premium payable. The fact that the
				policy or contract offered is made available to a prospective insured for
				inspection prior to consummation of the sale or an offer is made to refund the
				premium if the purchaser is not satisfied, does not remedy misleading
				statements.
(b) Invitations to
				contract must clearly reflect the insurer, the agent, the policy form
				number(s), the type plan, premium payable, payment period, and if applicable,
				changes in face amounts and premiums.
(c) A simultaneous disclosure of the plan of
				insurance being offered shall be made in close proximity to the advertised face
				and premium amounts.
(d) An
				advertisement of life insurance sold by direct response shall not contain the
				phrase "no salesman will call," or "no agent will call," or "by eliminating the
				agent and/or commission we can offer this low cost plan," or similar wording in
				a misleading manner.
(e) Full
				benefit policies or contracts may use the term "non-medical" or "no medical
				examination required" or similar terms where issue is not guaranteed, but this
				statement shall be accompanied by a further disclosure that health questions
				are required and that issuance of the policy or contract may depend upon
				evidence of insurability.
(f) A
				full explanation must be made of the use of units in which a common premium is
				specified and varying face amounts according to age are described.
(g) An advertisement which is an invitation
				to contract shall disclose those limitations affecting the basic provisions of
				the policy.
(h) An advertisement
				which also is an invitation to join an association, trust, or discretionary
				group must solicit insurance coverage on a separate and distinct application
				which requires separate signatures for each application. The insurance program
				must be presented so as not to mislead or deceive the prospective members
				regarding the fact that they are purchasing insurance as well as applying for
				membership, if that is the case. Any applicable membership fees or dues shall
				be disclosed on each such application and shall appear separately so as not to
				be construed as part of the premium for insurance coverage.
(i) An advertisement shall not refer to
				premium solely as a "deposit."
(j)
				An advertisement containing an interest rate to be earned, rate of return to be
				earned, or yield to be earned, is prohibited unless all limitations and
				conditions which affect the ultimate rate of return earned by the
				policyholder/insured/beneficiary are disclosed prominently and conspicuously
				with equal emphasis to describe the interest rate, rate of return or
				yield.