Or. Admin. Code § 836-080-0755

Current through Register Vol. 63, No. 12, December 1, 2024

Section 836-080-0755 - Application of OAR 836-080-0750 to 836-080-0775

(1) OAR 836-080-0750 to 836-080-0775 apply only to the solicitation or sale of any life insurance or annuity product by an insurer or insurance producer to an active duty service member of the United States Armed Forces.

(2) OAR 836-080-0750 to 836-080-0775 do not apply to solicitations or sales involving:

(a) Credit insurance;

(b) Group life insurance or group annuities when there is no in-person, face-to-face solicitation of individuals by an insurance producer or when the policy or certificate does not include a side fund;

(c) 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;

(d) Individual stand-alone health policies, including disability income policies;

(e) Contracts offered by Servicemembers' Group Life Insurance (SGLI) or Veteran's Group Life Insurance (VGLI), as authorized by 38 U.S.C. Section 1965 et seq.;

(f) Contracts offered by State Sponsored Life Insurance (SSLI), as authorized by Public Law 93-289, Title 37 U.S.C., sec. 707 et seq;

(g) Life insurance contracts offered through or by a non-profit military association, qualifying under Section 501 (c) (23) of the Internal Revenue Code (IRS), and which are not underwritten by an insurer; or

(h) Contracts used to fund:

(A) An employee pension or welfare benefit plan that is covered by the Employee Retirement and Income Security Act (ERISA);

(B) A plan described by Sections 401(a), 401(k), 403(b), 408(k), or 408(p) of the IRC, as amended, if established or maintained by an employer;

(C) A government or church plan defined in Section 414 of the IRS, a government 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 IRS;

(D) A nonqualified deferred compensation arrangement established or maintained by an employer or plan sponsor;

(E) Settlements of or assumptions of liabilities associated with personal injury litigation or any dispute or claim resolution process; or

(F) Prearranged funeral contracts.

(3) Nothing in this rule shall be construed to abrogate the ability of nonprofit organizations (or other organizations) to educate members of the United States Armed Forces in accordance with Department of Defense DoD Instruction 1344.07 -- PERSONAL COMMERCIAL SOLICITATION ON DoD INSTALLATIONS or successor directive.

(4) For purposes of OAR 836-080-0750 to 836-080-0775, general advertisements, direct mail, and internet marketing do not constitute "solicitation." Telephone marketing does not constitute "soliciting" provided the caller explicitly and conspicuously discloses that the product concerned is life insurance and makes no statements that avoid a clear and unequivocal statement that life insurance is the subject matter of the solicitation. Nothing in this section, however, shall be construed to exempt an insurer or insurance producer from OAR 836-080-0750 to 836-080-0775 in any in-person, face-to-face meeting established as a result of the "solicitation" exemptions identified in this section.

Or. Admin. Code § 836-080-0755

ID 7-2007, f. 9-14-07, cert. ef. 1-1-08

Stat. Auth.: ORS 731.244

Stats. Implemented: ORS 746.075, 746.110, 746.240