reglab/statecodes huggingface dataset:
Wisconsin Administrative Code › Occupational Therapists Affiliated Credentialing Board › Chapter OT 4 - Practice And Supervision › Section OT 4.03 - Standards of practice

Current through June 24, 2024
Occupational therapists and occupational therapy assistants
				shall adhere to the minimum standards of practice of occupational therapy that
				have become established in the profession, including but not limited to the
				following areas:
(1) SCREENING.
(a) An occupational therapist, alone or in
			 collaboration with an occupational therapy assistant, when practicing either
			 independently or as a member of a treatment team, shall identify individuals
			 who present deficits or declines in performance of their occupations including
			 occupational performance skills and performance patterns.
(b) Screening methods shall take into
			 consideration the occupational performance contexts relevant to the
			 individual.
(c) Screening methods
			 may include interviews, observations, testing and records review to determine
			 the need for further evaluation and intervention.
(d) The occupational therapist or
			 occupational therapy assistant shall transmit screening results and
			 recommendations to all appropriate persons.
Wisconsin Administrative Code › Occupational Therapists Affiliated Credentialing Board › Chapter OT 4 - Practice And Supervision › Section OT 4.04 - Supervision and practice of occupational therapy assistants

Current through June 24, 2024
(1) An occupational
			 therapy assistant must practice under the supervision of an occupational
			 therapist. Supervision is an interactive process that requires both the
			 occupational therapist and the occupational therapy assistant to share
			 responsibility for communication between the supervisor and the supervisee. The
			 occupational therapist is responsible for the overall delivery of occupational
			 therapy services and shall determine which occupational therapy services to
			 delegate to the occupational therapy assistant or non-licensed personnel based
			 on the establishment of service competence between supervisor and supervisee,
			 and is accountable for the safety and effectiveness of the services
			 provided.
(2) Supervision of an
			 occupational therapy assistant by an occupational therapist shall be either
			 close or general. The supervising occupational therapist shall have
			 responsibility for the outcome of the performed service.
(3) When close supervision is required, the
			 supervising occupational therapist shall have daily contact on the premises
			 with the occupational therapy assistant. The occupational therapist shall
			 provide direction in developing the plan of treatment and shall periodically
			 inspect the actual implementation of the plan. The occupational therapist shall
			 cosign evaluation contributions and intervention documents prepared by the
			 occupational therapy assistant.
(4)
(ad) In this subsection, "direct contact"
			 means face-to-face communication or communication by means of telephone,
			 electronic communication, or group conference.
(ah) When general supervision is allowed, the
			 supervising occupational therapist shall, except as provided under par. (ap),
			 have direct contact with the occupational therapy assistant and face-to-face
			 contact with the client by every tenth session of occupational therapy and no
			 less than once per calendar month.
(ap) When general supervision is allowed, and
			 occupational therapy services are provided to a client once per calendar month
			 or less frequently than once per calendar month, the supervising occupational
			 therapist shall have direct contact with the occupational therapy assistant and
			 face-to-face contact with the client no less than every other session of
			 occupational therapy.
(at) Direct
			 contact with the occupational therapy assistant under pars. (ah) and (ap) shall
			 include reviewing the progress and effectiveness of treatment, and may occur
			 simultaneously or separately from face-to-face contact with the client.
(b) The occupational therapist
			 shall record in writing a specific description of the supervisory activities
			 undertaken for each occupational therapy assistant. The written record shall
			 include client name, status and plan for each client
			 discussed.
Wisconsin Administrative Code › Occupational Therapists Affiliated Credentialing Board › Chapter OT 4 - Practice And Supervision › Section OT 4.05 - Supervision of non-licensed personnel and therapy aides

Current through June 24, 2024
(1) An occupational therapist or occupational
			 therapy assistant must provide direct supervision of non-licensed personnel at
			 all times. Direct supervision requires that the supervising occupational
			 therapist or occupational therapy assistant be available to assist, either on
			 premises or through technology and equipment meeting the requirements of s. OT
			 6.03.
(2) When an occupational
			 therapist or occupational therapy assistant delegates to non-licensed personnel
			 maintenance or restorative services to clients, the occupational therapist or
			 occupational therapy assistant must be within audible and visual range of the
			 client and the non-licensed personnel, either on premises in the immediate area
			 or through technology and equipment meeting the requirements of s. OT
			 6.03.
(3) An occupational therapist
			 or occupational therapy assistant may delegate to non-licensed personnel only
			 non-skilled, specific tasks which are neither evaluative, assessive, task
			 selective nor recommending in nature, and only after ensuring that the
			 non-licensed person has been appropriately trained for the performance of the
			 task.
(4) Occupational therapists
			 and occupational therapy assistants must exercise their professional judgment
			 when determining the number of non-licensed persons they can safely and
			 effectively supervise to ensure that quality care is provided at all times. A
			 limit of 2 is recommended.
(5) Any
			 duties assigned to non-licensed personnel must be determined and appropriately
			 supervised by an occupational therapist or occupational therapy assistant and
			 must not exceed the level of training, knowledge, skill and competence of the
			 individual being supervised. The licensed occupational therapist or
			 occupational therapy assistant is responsible for the acts or actions performed
			 by any non-licensed person functioning in the occupational therapy
			 setting.
(6) An occupational
			 therapist or occupational therapy assistant may delegate to non-licensed
			 personnel duties or functions, including the following services:
(a) Transportation of clients.
(b) Preparation or setting up of treatment
			 equipment and work area.
(c)
			 Attending to clients' personal needs during treatment.
(d) Clerical, secretarial or administrative
			 duties.
Wisconsin Administrative Code › Occupational Therapists Affiliated Credentialing Board › Chapter OT 5 - Unprofessional conduct › Section OT 5.01 - Authority and purpose

Current through June 24, 2024
The rules in this chapter are adopted by the board under the
				authority of ss.
				15.085(5)
				(b),
				227.11(2)
				and
				448.965,
				Stats., to establish the rules of conduct for occupational therapists and
				occupational therapy assistants.
Wisconsin Administrative Code › Occupational Therapists Affiliated Credentialing Board › Chapter OT 6 - Telehealth › Section OT 6.01 - Authority and purpose

Current through June 24, 2024
The rules in this chapter are adopted by the board under the
				authority of ss. 15.085(5) (b) and 448.965(1) (c) and (2), Stats., to
				establish standards of practice, care, and conduct for providing occupational
				therapy services using a telehealth visit.
Wisconsin Administrative Code › Occupational Therapists Affiliated Credentialing Board › Chapter OT 6 - Telehealth › Section OT 6.02 - Definitions

Current through June 24, 2024
As used in this chapter:
(1) "HIPAA" means the Health Insurance
			 Portability and Accountability Act of 1996,  Public Law 104-191.
(2) "Telehealth" has the meaning given in s.
			 440.01(1) (hm), Stats.
Wisconsin Administrative Code › Occupational Therapists Affiliated Credentialing Board › Chapter OT 6 - Telehealth › Section OT 6.03 - Technology and equipment

Current through June 24, 2024
An occupational therapist or occupational therapy assistant
				who provides occupational therapy services using a telehealth visit shall
				utilize technology that enables the transmission of information via the
				technology that is of sufficient quality to be functionally equivalent to
				face-to-face contact. Technology that is not real-time may be utilized to
				prepare for an occupational therapy session or to communicate with a patient
				between occupational therapy sessions.
Wisconsin Administrative Code › Occupational Therapists Affiliated Credentialing Board › Chapter OT 6 - Telehealth › Section OT 6.04 - Standards of practice, care, and conduct

Current through June 24, 2024
(1) An
			 occupational therapist or occupational therapy assistant shall be held to the
			 same standards of practice, care, and professional conduct regardless of
			 whether occupational therapy services are provided utilizing a telehealth visit
			 or an in-person visit.
(2) A
			 telehealth visit may not be utilized if the standard of care for the particular
			 occupational therapy services provided cannot be met.
(3) Upon scheduling a telehealth visit, clear
			 information shall be provided to the patient that the visit will be a
			 telehealth visit.
Wisconsin Administrative Code › Occupational Therapists Affiliated Credentialing Board › Chapter OT 6 - Telehealth › Section OT 6.06 - Supervision

Current through June 24, 2024
Supervision of an occupational therapy assistant or unlicensed
				personnel providing services to or assisting a client during a telehealth visit
				shall meet the requirements of s. OT 4.04 or 4.05, as
				appropriate.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 1 - Fraternal insurance › Section Ins 1.01 - Premiums and surplus refunds for accident and health benefits

Current through June 24, 2024
(1) SCOPE. This
			 rule shall apply to all contracts issued by fraternal benefit societies which
			 provide any type of accident and health or total and permanent disability
			 benefits as authorized in s. 632.94(4), 1977 Stats.
(2) PREMIUMS TO BE REASONABLE. The premiums
			 charged for accident and health benefits shall be reasonable in relation to the
			 benefits promised. Benefits will be considered "amply provided for" in
			 compliance with s.
			 623.15(2),
			 Stats., if the premiums are determined in accordance with reasonable actuarial
			 assumptions as to morbidity, persistency, interest, and expenses and with sound
			 actuarial margins.
(3) SURPLUS
			 REFUNDS. Any surplus developed in excess of reasonable funding requirements as
			 to contingency and solvency of the society shall be refunded to certificate
			 holders in a reasonably equitable manner. The society shall maintain adequate
			 records by certificate classes so that experience and refundable surplus may be
			 determined with reasonable equity.
Morbidity tables which will be considered as providing data
				  based on reasonable actuarial assumptions are: Tables based on recent society
				  of actuaries reports regarding experience under individual disability policies
				  or under individual medical expense policies, actual credible morbidity
				  experience of the society providing the benefits, or other credible industry
				  experience.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 2 - Life Insurance › Section Ins 2.01 - Estoppel by report of medical examiner

Current through June 24, 2024
No company or fraternal benefit society shall issue in this
				state a contract, based on a medical examination, providing for disability
				benefits, the provisions of which are in conflict with ss.
				632.50
				and
				632.71,
				Stats., or shall indulge in any practice which is at variance with said
				section.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 2 - Life Insurance › Section Ins 2.03 - Policies not dated back to lower insurance age

Current through June 24, 2024
(1) No company
			 shall issue for delivery in this state any policy or contract of life insurance
			 which purports to be issued or take effect as of a date more than 6 months
			 before the application therefor was made, if thereby the premium on such policy
			 or contract is reduced below the premium which would be payable thereon as
			 determined by the nearest birthday of the insured at the time when such
			 application was made. The date of application must be considered to be the date
			 on which the application (Part I) or the medical examination (Part II) is
			 completed, whichever is the later.
(2) This ruling does not prohibit the
			 exchange, alteration or conversion of policies of life insurance as of the
			 original date of such policies if the amount of insurance provided under the
			 new policy does not exceed the amount of insurance under the original policy or
			 the amount of insurance which the premium paid for the original policy would
			 have purchased if the new policy had been originally applied for, whichever is
			 greater; nor prohibit the exercise of any conversion privilege contained in any
			 policy or contract.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 2 - Life Insurance › Section Ins 2.05 - Separate statement of premiums for certain disability insurance benefits included in life or endowment insurance policies

Current through June 24, 2024
(1) PURPOSE. This
			 rule provides guidelines to determine which disability coverages may be
			 included in life or endowment insurance policies without a separate statement
			 of premium charge. This rule interprets and implements the separation of
			 premium requirements stated in s.
			 632.44(1),
			 Stats., as they relate to the inclusion of disability insurance by policy
			 provision or rider in life or endowment insurance policies such as authorized
			 by s.
			 Ins
			 6.70 and s.
			 627.06,
			 Stats.
(2) SCOPE. This rule shall
			 apply to the kinds of disability insurance authorized by s.
			 Ins 6.75(1) (a) and
			 (c), when such insurance is provided in a
			 life or endowment policy either by specific policy provision or by a rider
			 attached to such policy.
(3)
			 DEFINITIONS.
(a)
Life or endowment
			 insurance
. The basic life or endowment insurance coverage provided by
			 the policy and additional disability benefits which have been determined by the
			 standards in sub. (4) to be benefits which are life or endowment insurance or
			 an integral part of such coverages.
(b)
Disability insurance
			 benefit
. Insurance coverages written under the authority of s.
			 Ins 6.75(1) (a) and
			 (c), to indemnify persons in whole or in part
			 for financial loss due to bodily injury, death by accident, or health of
			 persons.
(c)
Separate
			 statement of premium
. Individual statement of the exact gross premium
			 charged for each distinct disability insurance coverage required by this rule
			 to be stated separately from the premium charge for the basic life or endowment
			 insurance coverage.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 2 - Life Insurance › Section Ins 2.07 - Replacement of life insurance or annuity contracts; disclosure requirements › Appendix II - NOTICE REGARDING REPLACEMENT REPLACING YOUR LIFE INSURANCE POLICY OR ANNUITY?

Current through June 24, 2024
Are you thinking about buying a new life insurance policy or
				  annuity and discontinuing or changing an existing one? If you are, your
				  decision could be a good one - or a mistake. You will not know for sure unless
				  you make a careful comparison of your existing benefits and the proposed policy
				  or contract's benefits.
Make sure you understand the facts. You should ask the
				  insurer or agent that sold you your existing policy or contract to give you
				  information about it.
Hear both sides before you decide. This way you can be sure
				  you are making a decision that is in your best interest.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 2 - Life Insurance › Section Ins 2.09 - Separate and distinct representations of life insurance

Current through June 24, 2024
(1) PURPOSE. The
			 interests of policyholders and purchasers of life insurance which is sold in
			 connection with any security must be safeguarded by providing them with clear
			 and unambiguous written proposals and statements in which all material relating
			 to life insurance is set forth separately from any other material. This rule
			 implements and interprets s.
			 628.34,
			 Stats., by establishing minimum standards for the form of proposals and
			 statements used to solicit, service, or collect premiums for life insurance
			 which is sold in connection with a mutual fund or other security.
(2) SCOPE. This rule shall apply to the
			 solicitation of, negotiation for, procurement of, or joint billing of any
			 insurance specified in s.
			 Ins 6.75(1)
			 (a), within this state or involving a
			 resident of this state where it is known to the insurer or the insurance agent
			 that the sale of any mutual fund or other security has been, may become, or is
			 a part of any such transaction.
(3)
			 DEFINITIONS. For the purposes of this rule:
(a) "Proposal" includes any estimate,
			 illustration, or statement which involves a representation of any premium
			 charge, dividends, terms, or benefits of any policy of life insurance within
			 sub. (2).
(b) "Life insurance"
			 includes life insurance, annuities, and endowments.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 2 - Life Insurance › Section Ins 2.12 - Exceptions to unfair discrimination

Current through June 24, 2024
The following practices, without being all-inclusive, shall not
				be considered unfairly discriminatory as considered by s.
				628.34,
				Stats.:
(1) Issuing life insurance
			 policies or life annuity contracts on a salary savings, salary allotment, bank
			 draft, pre-authorized check, or payroll deduction plan or other similar plan at
			 a reduced rate or with special underwriting considerations reasonably related
			 to the savings made by use of such plan.
(2) Issuing life insurance policies or
			 annuity contracts at premiums determined by rating plans which provide for
			 modification of premiums based on the amount of insurance; but any such rating
			 plans shall not result in reduction in premiums in excess of the savings
			 reasonably related to the savings made by use of the plan. All cost factors
			 must be given proper recognition in order to preserve equity between various
			 classes of policyholders.
(3)
			 Issuing so-called "family plan' life insurance policies which include insured,
			 spouse, and their children with the premium calculated on the basis of the
			 family unit. The rating plan must give recognition to all cost factors in order
			 to preserve equity between various classes of policyholders.
(4) Issuing policies under the authority of
			 s.
			 Ins 6.75(1)
			 (a), with the premium calculated on the basis
			 of the average age of those insured or calculated in some other manner which is
			 appropriate for the coverage offered, provided that the rate must be reasonably
			 related to the coverage provided and to the savings made by use of the rating
			 procedure.
(5) Issuing life
			 insurance policies or life annuity contracts at special rates or with special
			 underwriting considerations, reasonably related to the savings made, in
			 connection with:
(a) Employee benefit trusts
			 or plans conforming to the requirements of s.
			 815.18(3)
			 (j), Stats.
(b) Plans used to fund retirement benefits
			 under the Federal Self-Employed Individuals Tax Retirement Act of
			 1962.
(c) Plans used to fund
			 retirement benefits for employees of certain organizations exempt from Federal
			 income tax and public schools (so-called tax sheltered annuity
			 plans).
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 2 - Life Insurance › Section Ins 2.13 - Separate accounts and variable contracts

Current through June 24, 2024
(1) PURPOSE. This
			 section creates standards for establishing separate accounts and for issuing
			 contracts on a variable basis, both as provided by ss.
			 611.25
			 and
			 632.45(1),
			 Stats.
(2) DEFINITIONS. In this
			 section:
(a) "Agent" means a person who sells
			 or offers to sell any contract on a variable basis.
(b) "Contract on a variable basis" or
			 "variable contract" means a policy or contract which provides for insurance or
			 annuity benefits which may vary according to the investment experience of any
			 separate account maintained by the insurer as to the policy or contract, as
			 provided for in s.
			 632.45(1),
			 Stats., including contracts defined in pars. (e) and (f).
(c) "Interest credits" means all interest
			 that is credited to a policy or contract.
(d) "Issue" means to issue for delivery or
			 deliver.
(e) "Modified guaranteed
			 annuity" means a deferred annuity contract, the underlying assets of which are
			 held in a separate account and the values of which are guaranteed if held for
			 specified periods, containing nonforfeiture values based on a market-value
			 adjustment formula if held for shorter periods, which formula may or may not
			 reflect the value of assets held in the separate account.
(f) "Modified guaranteed life insurance
			 policy" means an individual policy of life insurance, the underlying assets of
			 which are held in a separate account and the values of which are guaranteed if
			 held for specified periods, containing nonforfeiture values based on a
			 market-value adjustment formula if held for shorter periods, which formula may
			 or may not reflect the value of assets held in the separate account.
(g) "Policy processing day" means the day on
			 which charges authorized in the policy are deducted from the policy's cash
			 value.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 2 - Life Insurance › Section Ins 2.14 - Life insurance solicitation

Current through June 24, 2024
(1) PURPOSE. The
			 purpose of this section is to require insurers to deliver to purchasers of life
			 insurance information which will improve the buyer's ability to select the most
			 appropriate plan of life insurance for the buyer's needs, improve the buyer's
			 understanding of the basic features of the policy, and improve the ability of
			 the buyer to evaluate the relative costs of similar plans of life insurance.
			 This section does not prohibit the use of additional material which is not in
			 violation of this section or any other Wisconsin statute or rule. This section
			 interprets ss.
			 628.34
			 and
			 628.38,
			 Stats. This section is in addition to and not a substitute for the requirements
			 set forth in ss.
			 Ins
			 2.16 and
			 2.17.
(2) SCOPE.
(a) Except as stated in par. (b), this
			 section applies to any solicitation, negotiation, or procurement of life
			 insurance occurring within this state. This section applies to any issuer of
			 life insurance contracts including fraternal benefit societies and the state
			 life Insurance fund.
(b) Unless
			 otherwise specifically included, this section does not apply to:
1. Annuities.
2. Credit life insurance.
3. Group life insurance.
4. Life insurance policies issued in
			 connection with pension and welfare plans as defined by and which are subject
			 to the federal employee retirement income security act of 1974 (ERISA),
			 29 U.S.C. sections
			 1001 to
			 1461.
5. Variable life insurance under which the
			 death benefits and cash values vary in accordance with unit values of
			 investments held in a separate account.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 2 - Life Insurance › Section Ins 2.15 - Annuity benefit solicitations

Current through June 24, 2024
(1) FINDINGS.
			 Information on file in the office of the commissioner of insurance and
			 submitted as Exhibit 4 at the hearing February 28, 1980 shows that some of the
			 brochures, presentations, illustrations and other sales material which have
			 been used by insurers and their representatives to sell annuity contracts to
			 Wisconsin residents are confusing, misleading and incomplete, and that annuity
			 purchasers are not receiving the information needed to make sound purchase
			 decisions. The commissioner of insurance finds that such presentations and
			 sales material are misleading, deceptive and restrain competition unreasonably
			 as considered by s.
			 628.34(12),
			 Stats., and that their continued use would constitute an unfair trade practice
			 under s.
			 628.34(12),
			 Stats., and would result in misrepresentation as defined and prohibited in s.
			 628.34(1),
			 Stats.
(2)
(a) The purpose of this section is to require
			 insurers to deliver to prospects for deferred annuity contracts or deposit
			 funds, riders or provisions accepted in conjunction with insurance policies or
			 annuity contracts, information which helps the prospect select an annuity
			 benefit appropriate to the prospect's needs, improves the prospect's
			 understanding of the basic features of the plan under consideration and
			 improves the prospect's ability to evaluate the relative benefits of similar
			 plans. This section does not prohibit the use of additional material which is
			 not in violation of any other Wisconsin rule or statute. This section is in
			 addition to and not a substitute for the requirements set forth in s.
			 Ins
			 2.16.
(b)
			 This section interprets and implements s.
			 628.34(12),
			 Stats.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 2 - Life Insurance › Section Ins 2.17 - Life insurance illustrations

Current through June 24, 2024
(1) PURPOSE. This
			 section provides rules for life insurance policy illustrations that will
			 protect consumers and foster consumer education. This section provides
			 illustration formats, prescribes standards to be followed when illustrations
			 are used, and specifies the disclosures that are required in connection with
			 illustrations. The goals of this rule are to ensure that illustrations do not
			 mislead purchasers of life insurance and to make illustrations more
			 understandable. Insurers will, as far as possible, eliminate the use of
			 footnotes and caveats and define terms used in the illustration in language
			 that would be understood by a typical person within the segment of the public
			 to which the illustration is directed. The requirements of this section are in
			 addition to and not a substitute for the requirements set forth in ss.
			 Ins
			 2.14 and
			 2.16.
(2) SCOPE. This section applies to all group
			 and individual life insurance policies and certificates except:
(a) Variable life insurance.
(b) Individual and group annuity
			 contracts.
(c) Credit life
			 insurance.
(d) Life insurance
			 policies with no illustrated death benefits on any individual exceeding
			 $10,000.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 2 - Life Insurance › Section Ins 2.18 - Life settlement contracts

Current through June 24, 2024
(1) PURPOSE. The
			 purpose of this regulation is to interpret and implement s.
			 632.69,
			 Stats.
(2) DEFINITIONS. In addition
			 to the definitions contained in s.
			 632.69(1),
			 Stats., in this section:
(a) "Commissioner"
			 means the commissioner of insurance.
(b) "Firm" means a corporation, partnership
			 or other legal entity.
(c) "Office"
			 means the office of the commissioner of insurance.
(d) "Term life insurance" means life
			 insurance which provides coverage at a fixed rate of payment for a limited
			 period of time and which provides no guaranteed nonforfeiture or endowment
			 benefits.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 2 - Life Insurance › Appendix I

Current through June 24, 2024
Important information about your life insurance policy
Keep this information with your insurance papers
Life insurance is a critical part of a broader financial plan.
				If you are considering making changes in the status of your policy you should
				consult with a licensed insurance or financial advisor in order to find an
				alternative best suited to your needs. Available alternatives include but are
				not limited to:
* Accelerated Death Benefit: Your policy may provide an early
				or accelerated cash payment if you have a terminal or chronic illness.
* Cash Surrender: Your policy may have a cash surrender value
				the life insurer will pay you if you surrender your policy.
* Gift: You may be able to give your policy to another person,
				who would then assume responsibility for paying premiums.
* Life Settlement: You may be able to sell your life insurance
				policy to a third party for an amount greater than the cash surrender value or
				accelerated death benefit but less than the expected death benefit under your
				policy. The third party becomes the policyholder and receives the benefit upon
				the death of the insured. Upon sale to the third party you would pay no further
				premium. Wisconsin law requires brokers and providers who arrange life
				settlements to be licensed.
* Maintain Your Policy: You may be able to maintain your life
				insurance policy in force by paying the premiums directly or using your current
				policy value to pay the premiums.
* Policy Changes: You may be able to reduce or eliminate future
				premium payments by obtaining a paid-up policy, by reducing coverage, or
				through other options available from your life insurer.
* Policy Loan: You may be able to obtain a loan from your life
				insurance company using the cash value of your policy as collateral. Loan
				proceeds may be used to pay premiums or for other purposes.
* Third-Party Loan: You may be able to obtain a loan from
				another party to pay your premiums using the cash value or a portion of the
				death benefit as collateral.
The listed alternatives may or may not be available depending
				on your circumstances and the terms of your life insurance policy.
If you have a specific concern about your life insurance
				policy, contact your insurance company or agent:
(Insurer name)
(Customer service)
(Address)
(Toll free telephone number, if available)
(Telephone number)
You may also contact your financial advisor, or you may contact
				the Office of the Commissioner of Insurance at 1-800-236-8517 or 608-266-0103;
				Email: ociquestions@wisconsin.gov.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 2 - Life Insurance › Section Ins 2.19 - Military sales practices

Current through June 24, 2024
(1) PURPOSE.
(a) The purpose of this section is to set
			 forth standards to protect active duty service members of the United States
			 Armed Forces from dishonest and predatory insurance sales practices by
			 declaring certain identified practices to be false, misleading, deceptive or
			 unfair.
(b) This section does not
			 create or imply a private cause of action for a violation of this
			 section.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 2 - Life Insurance › Section Ins 2.30 - Annuity mortality tables

Current through June 24, 2024
(1) PURPOSE. The purpose of this section is
			 to adopt, pursuant to s.
			 623.06(2a) (b) and
			 (d), Stats., mortality tables for use in
			 determining the minimum standard of valuation for annuity and pure endowment
			 contracts.
(2) DEFINITIONS.
(a) "1983 GAM table" means those male and
			 female group annuity mortality tables adopted for the valuation of group
			 annuity and pure endowment contracts in December of 1983 by the NAIC and
			 published on pages 414-415, NAIC proceedings, vol. I, 1984.
(b) "1983 table `a'" means that mortality
			 table adopted for the valuation of individual annuity and pure endowment
			 contracts in June of 1982 by the NAIC and published on page 454, NAIC
			 proceedings, vol. II 1982.
(c)
			 "1994 GAR table" means the group annuity reserving table adopted for the
			 valuation of group annuity and pure endowment contracts in December of 1996 by
			 the NAIC as published on pages 866 and 867, vol. XLVII, transactions, society
			 of actuaries, 1995.
(d) "2012
			 Individual Annuity Mortality Period Life Table" or "2012 IAM Period Table"
			 means the Period Table containing loaded mortality rates for calendar year
			 2012. This table contains rates, qx2012, developed by the society of actuaries
			 committee on life insurance research, and published in the 2012 proceedings of
			 the NAIC, Fall Volume I, pages 149-150.
(e) "2012 IAR Table" means that generational
			 mortality table developed by the society of actuaries committee on life
			 insurance research and containing rates, qx2012+n, derived from a combination
			 of the 2012 IAM Period Table and Projection Scale G2, using the methodology
			 stated in Section 3m.
(f) "Annuity
			 2000 mortality table" means those male and female mortality tables adopted for
			 the valuation of individual annuity and pure endowment contracts in December of
			 1996 by the NAIC as published on page 240, vol. XLVII, transactions, society of
			 actuaries, 1995.
(g) "Generational
			 mortality table" means a mortality table containing a set of mortality rates
			 that decrease for a given age from one year to the next based on a combination
			 of a Period table and a projection scale containing rates of mortality
			 improvement.
(h) "NAIC" means the
			 national association of insurance commissioners.
(i) "Period table" means a table of mortality
			 rates applicable to a given calendar year.
(j) "Projection Scale G2" or "Scale G2" is a
			 table of annual rates, G2x, of mortality improvement by age for projecting
			 future mortality rates beyond calendar year 2012. This table was developed by
			 the society of actuaries committee on life insurance research, and published in
			 the 2012 proceedings of the NAIC, Fall Volume I, pages 151-152.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 2 - Life Insurance › Section Ins 2.35 - Smoker and nonsmoker mortality tables for minimum reserve liabilities and minimum nonforfeiture benefits

Current through June 24, 2024
(1) PURPOSE. This
			 section implements ss.
			 623.06(2) (am)
			 3 and
			 632.43(6m)
			 (e) 3 f., Stats., by permitting the use of
			 mortality tables that reflect differences in mortality between smokers and
			 nonsmokers. These mortality tables are used in determining minimum reserve
			 liabilities and minimum cash surrender values and amounts of paid-up
			 nonforfeiture benefits for plans of insurance with separate premium rates for
			 smokers and nonsmokers.
(2)
			 DEFINITIONS. In this section:
(a) "1980 CSO
			 table, with or without 10-year select mortality factor" means that mortality
			 table, consisting of separate rates of mortality for male and female lives,
			 incorporated in ss.
			 623.06(2) (am)
			 3 and
			 632.43(6m)
			 (e) 3 f., Stats., and referred to in those
			 statutes as the commissioner's 1980 standard ordinary mortality table, with or
			 without 10-year select mortality factors.
(b) "1980 CET table" means that mortality
			 table consisting of separate rates of mortality for male and female lives
			 incorporated in ss.
			 623.06(2) (am)
			 3 and
			 632.43(6m)
			 (e) 3 f., Stats., and referred to in those
			 statutes as the commissioner's 1980 extended term insurance table.
(c) "1980 CSO smoker and nonsmoker mortality
			 tables" means the mortality tables with separate rates of mortality for smokers
			 and nonsmokers derived from the tables defined in par. (a), and adopted by the
			 National Association of Insurance Commissioners in December 1983.
Note: Mortality rates for these tables are published on pp.
				406-413, Proceedings of the National Association of Insurance Commissioners,
				1984 Vol. I.
(d) "1980 CET
			 smoker and nonsmoker mortality tables" means the mortality tables with separate
			 rates of mortality for smokers and nonsmokers derived from the tables defined
			 in par. (b), and adopted by the National Association of Insurance Commissioners
			 in December 1983.
Note: Mortality rates for these tables are published on pp.
				406-413, Proceedings of the National Association of Insurance Commissioners,
				1984 Vol. I.
(e) "Composite
			 mortality tables" means the mortality tables defined in pars. (a) and (b), as
			 originally published with rates of mortality that do not distinguish between
			 smokers and nonsmokers.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 2 - Life Insurance › Section Ins 2.40 - Annuity contracts without life contingencies

Current through June 24, 2024
(1) PURPOSE. This
			 section implements and interprets s.
			 632.66,
			 Stats., by authorizing life insurers to issue annuity contracts without life
			 contingencies and setting forth the conditions under which these annuity
			 contracts may be issued.
(2) SCOPE.
			 This section applies to all annuity contracts without life contingencies and
			 which are classified as life and disability insurance under s.
			 Ins
			 6.75(1).
(3) GRANT OF AUTHORITY. A life insurer that
			 holds a valid certificate of authority to transact the business of life
			 insurance and annuities in this state may issue in this state annuity contracts
			 without life contingencies, subject to the following conditions:
(a) No insurer may base the consideration to
			 be paid to the insurer for the annuity contract without a life contingency upon
			 the age or condition of health of the purchaser of the contract or any other
			 person, or on any mortality or morbidity contingencies.
(b) An insurer shall base the amounts
			 guaranteed to be paid under an annuity contract without a life contingency upon
			 reasonable assumptions as to investment income and expenses, determined in a
			 manner which is equitable to all holders of such contracts.
(c) An insurer may offer to the public an
			 annuity contract without a life contingency only through licensed
			 intermediaries or directly by the insurer.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 2 - Life Insurance › Section Ins 2.45 - Charitable organizations; insurable interest

Current through June 24, 2024
(1) PURPOSE. The
			 purpose of this section is to interpret s.
			 631.07,
			 Stats., with respect to the insurable interest of charitable organizations.
			 This section does not limit or abridge any insurable interest existing at
			 common law or by statute.
(2)
			 SCOPE. This section applies to life insurance policies issued in this state,
			 including, but not limited to, policies in force on March 1, 1994.
(3) DEFINITIONS. In this section:
(a) "Charitable organization" means an
			 organization described in
			 26 USC
			 170(c) or
			 26
			 USC 501(c) (3).
(b) "Life
			 insurance" includes endowment policies and annuities.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 2 - Life Insurance › Section Ins 2.80 - Valuation of life insurance policies

Current through June 24, 2024
(1) PURPOSE.
(a) This section establishes minimum
			 standards under ch. 623, Stats., for life insurance policy reserves by
			 providing tables of select mortality factors, establishing rules concerning a
			 minimum standard for the valuation of plans with non-level premiums or
			 benefits, and establishing rules concerning a minimum standard for the
			 valuation of plans with secondary guarantees.
(b) The method for calculating basic reserves
			 defined in this section constitutes the commissioner's reserve valuation method
			 for policies to which this section is applicable.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 3 - Casualty Insurance › Section Ins 3.01 - Accumulation benefit riders attached to health and accident policies

Current through June 24, 2024
Except where such rider is used only on a policy replacing the
				company's own policy, and so recites, no rider providing for accumulations of
				benefits will be approved for use upon any policy of health and accident
				insurance, whether it is proposed to issue such rider with or without an
				additional premium. Such rider operates as an aid to twisting the policies of
				another company in such manner as to make its use a direct encouragement of
				this practice.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 3 - Casualty Insurance › Section Ins 3.08 - Municipal bond insurance

Current through June 24, 2024
(1) PURPOSE. This section implements and
			 interprets ss.
			 601.42,
			 611.19(1),
			 618.21,
			 623.03,
			 623.04,
			 627.05,
			 628.34(2),
			 632.14,
			 and
			 632.17,
			 Stats., for the purpose of establishing minimum requirements for the
			 transaction of a type of surety insurance known as municipal bond
			 insurance.
(2)SCOPE. This section
			 shall apply to the underwriting, marketing, rating, accounting and reserving
			 activities of insurers which write municipal bond insurance.
(3)DEFINITIONS.
(a) "Annual statement" means the fire and
			 casualty annual statement form specified in s.
			 Ins
			 7.02, Forms 22-010 and 22-011.
(b) "Contingency reserve" means a reserve
			 established for the protection of policyholders covered by policies insuring
			 municipal bonds against the effect of excessive losses occurring during adverse
			 economic cycles.
(c) "Cumulative
			 net liability" means one-third of one percent of the insured unpaid principal
			 and insured unpaid interest covered by in-force policies of municipal bond
			 insurance.
(d) "Municipal bonds"
			 means securities which are issued by or on behalf of or are paid or guaranteed
			 by:
1. Any state, territory or possession of
			 the United States of America;
2.
			 Any political subdivision of any such state, territory or possession;
			 or
3. Any agency, authority or
			 corporate or other instrumentality of any one or more of the foregoing, or
			 which are guaranteed by any of the foregoing.
(e) "Municipal bond insurance" means a type
			 of surety insurance authorized by s.
			 Ins 6.75(2)
			 (g) which is limited to the guaranteeing of
			 the performance and obligations of municipal bonds.
(f) "Municipal bond insurer" means an insurer
			 which issues municipal bond insurance.
(g) "Total net liability" means the average
			 annual amount due, net of reinsurance, for principal and interest on the
			 insured amount of any one issue of municipal bonds.
(h) "Person" means any individual,
			 corporation for profit or not for profit, association, partnership or any other
			 legal entity.
(i) "Policyholders'
			 surplus" means an insurer's net worth, the difference between its assets and
			 liabilities, as reported in its annual statement.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 3 - Casualty Insurance › Section Ins 3.09 - Mortgage guaranty insurance

Current through June 24, 2024
(1) PURPOSE. This
			 section implements and interprets s.
			 Ins 6.75(2) (i) and
			 (j) and ss.
			 601.01,
			 601.42,
			 611.19(1),
			 611.24,
			 618.21,
			 620.02,
			 623.02,
			 623.03,
			 623.04,
			 623.11,
			 627.05
			 and
			 628.34(12),
			 Stats., for the purpose of establishing minimum requirements for the
			 transaction of mortgage guaranty insurance.
(2)SCOPE. This rule shall apply to the
			 underwriting, investment, marketing, rating, accounting and reserving
			 activities of insurers which write the type of insurance authorized by s.
			 Ins 6.75(2) (i) and
			 (j).
(3)DEFINITIONS.
(a) "Amount at risk" means the coverage
			 percentage or the claim settlement option percentage multiplied by the face of
			 amount of a mortgage or by the insured amount of a lease.
(b) "Annual statement" means the fire and
			 casualty annual statement form specified in s.
			 Ins
			 7.02, Forms 22-010 and 22-011.
(c) "Contingency reserve" means the reserve
			 established for the protection of policyholders against the effect of losses
			 resulting from adverse economic cycles.
(d) "Equity" means the complement of the
			 Loan-to-Value.
(e) "Face amount"
			 means the entire indebtedness under an insured mortgage before computing any
			 reduction because of an insurer's option limiting its coverage.
(f) "Loan-to-value" means the ratio of the
			 entire indebtedness to value of the collateral property expressed as a
			 percentage.
(g) "Mortgage guaranty
			 account" means the portion of the Contingency Reserve which complies with (e)
			 as amended.
(h) "Mortgage guaranty
			 insurance" means that kind of insurance authorized by s.
			 Ins 6.75(2)
			 (i).
(i) "Mortgage guaranty insurer" means an
			 insurer which:
1. Insures pursuant to s.
			 Ins 6.75(2)
			 (i), or
2. Insures pursuant to s.
			 Ins 6.75(2)
			 (j) against loss arising from failure of
			 debtors to meet financial obligations to creditors under evidences of
			 indebtedness secured by a junior lien or charge on real estate.
(j) "Mortgage guaranty insurers
			 report of policyholders position" means the annual supplementary report
			 required by s.
			 Ins
			 7.02, Forms 22-090 and 22-091.
(k) "NAIC Ratio-Investment Yield" means net
			 investment income earned after taxes from the annual statement divided by mean
			 invested assets.
(L) "Person" means
			 any individual, corporation, association, partnership or any other legal
			 entity.
(m) "Policyholders
			 position" includes the contingency reserve established under sub. (14), the
			 deferred risk charge established under sub. (13) (b) and surplus as regards
			 policyholders. "Minimum policyholders position" is calculated as described in
			 sub. (5).
(n) "Surplus as regards
			 policyholders" means an insurer's net worth, the difference between its assets
			 and liabilities, as reported in its annual statement.
Wisconsin Administrative Code › Office of the Commissioner of Insurance › Chapter Ins 3 - Casualty Insurance › Section Ins 3.11 - Multiple peril insurance contracts

Current through June 24, 2024
(1) PURPOSE AND
			 SCOPE.
(a) This rule implements and
			 interprets s.
			 Ins
			 6.70 and chs. 625 and 631, Stats., by enumerating the
			 minimum requirements for the writing of multiple peril insurance contracts.
			 Nothing herein contained is intended to prohibit insurers or groups of insurers
			 from justifying rates or premiums in the manner provided for by the rating
			 laws.
(b) This rule shall apply to
			 multiple peril insurance contracts permitted by s.
			 Ins
			 6.70, and which include a type or types of coverage or
			 a kind or kinds of insurance subject to ch. 625, Stats.
(c) Types of coverage or kinds of insurance
			 which are not subject to ch. 625, Stats., or to the filing requirement
			 provisions thereof, may not be included in multiple peril insurance contracts
			 otherwise subject to said sections unless such entire multiple peril insurance
			 contract is filed as being subject to this rule and said sections and the
			 filing requirements thereof.