Nebraska Administrative Code › Topic - INSURANCE, DEPARTMENT OF › Title 210 - NEBRASKA DEPARTMENT OF INSURANCE › Chapter 19 › Section 210-19-003 - Scope

Current through June 17, 2024
Unless otherwise specifically included, this regulation shall
				  not apply to transactions involving:
003.01 Credit life insurance;
003.02 Group life insurance or group
				annuities where there is no direct solicitation of individuals by an insurance
				producer. Direct solicitation shall not include any group meeting held by an
				insurance producer solely for the purpose of educating or enrolling individuals
				or, when initiated by an individual member of the group, assisting with the
				selection of investment options offered by a single insurer in connection with
				enrolling that individual. Group life insurance or group annuity certificates
				marketed through direct response solicitation shall be subject to the
				provisions of Section 011;
003.03
				Group life insurance and annuities used to fund prearranged funeral
				contracts;
003.04 An application to
				the existing insurer that issued the existing policy or contract when a
				contractual change or a conversion privilege is being exercised; or, when the
				existing policy or contract is being replaced by the same insurer pursuant to a
				program filed with and approved by the director; or, when a term conversion
				privilege is exercised among corporate affiliates;
003.05 Proposed life insurance that is to
				replace life insurance under a binding or conditional receipt issued by the
				same company;
003.06
003.06A Policies or contracts used to fund
				(i) an employee pension or welfare benefit plan that is covered by the Employee
				Retirement and Income Security Act (ERISA); (ii) a plan described by Sections
				401(a), 401(k) or 403(b) of the Internal Revenue Code; where the plan, for
				purposes of ERISA, is established or maintained by an employer; (iii) a
				governmental or church plan defined in Section 414, a governmental or church
				welfare benefit plan, or a deferred compensation plan of a state or local
				government or tax exempt organization under Section 457 of the Internal Revenue
				Code; or (iv) a nonqualified deferred compensation arrangement established or
				maintained by an employer or plan sponsor.
003.06B Notwithstanding Subparagraph (A),
				this regulation shall apply to policies or contracts used to fund any plan or
				arrangement that is funded solely by contributions an employee elects to make,
				whether on a pre-tax or after-tax basis, and where the insurer has been
				notified that plan participants may choose from among two (2) or more insurers
				and there is a direct solicitation of an individual employee by an insurance
				producer for the purchase of a contract or policy. As used in this subsection,
				direct solicitation shall not include any group meeting held by an insurance
				producer solely for the purpose of educating individuals about the plan or
				arrangement or enrolling individuals in the plan or arrangement or, when
				initiated by an individual employee, assisting with the selection of investment
				options offered by a single insurer in connection with enrolling that
				individual employee;