§ 83.2. Applicability.
(a) This subchapter applies to insurance companies authorized to transact the business of life insurance in this Commonwealth as regards solicitation of the sale of insurance on the life of a Commonwealth resident unless excluded in subsection (b). This subchapter equally applies to fraternal benefit societies authorized to transact the business of life insurance in this Commonwealth and employing representatives licensed as agents or brokers or selling life insurance on a direct-response or mail-order basis. When the cost of life insurance coverage is borne in part by the employer of the insured, the required disclosures may be made at representative ages of not to exceed 10-year age intervals in lieu of a disclosure at all applicable ages.
(b) This subchapter is not applicable to the following kinds of insurance:
(1) Annuities.
(2) Group life insurance.
(3) Credit life insurance.
(4) Life insurance of $1,000 or less.
(5) Substandard solicitations to the extent the agent or company do not reasonably know the pertinent information at the time the presentation is made to a prospective insured.
(6) Life insurance issued in connection with qualified funded pension plans and qualified retirement plans.
(7) Life insurance issued as a result of a contractual policy change or conversion provision.
(8) Life insurance where the cost is borne in whole by the employer of the insured.
(9) Variable life insurance.
Source The provisions of this § 83.2 amended through December 28, 1979, effective March 1, 1980, 9 Pa.B. 4251. Immediately preceding text appears at serial page (42666).
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