CT LAW-INSURANCE

Within what period of time must agents notify the Commissioner once they move their residential or business address?

30 days

Standardized Medicare Supplement Plans

-an issuer must give the policy form to each prospective policyholder to explain the different plans for supplement benefit program that covered specified areas

LTC Shoppers Guider

-approved by commissioner and must be given prior to an application or with any application

Unless otherwise stated by law, any person or corporation in violation of any of the reasons for license suspensions, revocation, refusal to issue or renew may be fined up to...

$15,000 for each violation

CT Partnership for Long term care is

- is not medicare, funds are combined so that Medicaid can finance long term care -an individual can purchase a precertified long term care insurance policy in an amount fitting his assets

Right to return (free look) Medicare Supplement

- on the first page of the policy it must state that the policyholder to return within 30 days of policy delivery and have premium refunded

Adoption and prospective adopted children

-as long as the child lives in the household of the insured and is a dependent of them they are covered by health insurance -even if papers are not finalized -fees may be required

The producers must provide all prospective buyers with:

-a Buyer's Guide, policy summary, information on who they are and their company, and a disclosure that the information being presented is not guaranteed

Plan offering to disabled- Medicare Supplement

-these insurance policies must be based on a community rate which cannot be based on race, gender, previous claims history, or medical conditions

Health care centers are not required to offer coverage to small employers if:

-they are no located in the approved service area -to an employee who does not live in the approved area -they are in an area where they cannot deliver the services needed -the commissioner decided it will harm them financially -or if health center is already in financial danger

Small groups- person cannot renew if:

-they don't pay the premiums -they commit fraud -they don't follow plan policies -they don't meet the participation requirements -the employer is no longer in business

Small group- eligible employees

-workers normal week of 20 hours or more (does not include temporary/seasonal or substitute workers) -anyone who is covered by WC

A producer is in violation of controlled business regulation if more than how much of his/her collected premium is from controlled business?

10%

Investigative Consumer (inspection) Report

An insurance business/agent can request this report only if they inform the individual that they can be interviewed in relation to the report and that the individual can receive a copy of the report

Which of the following statements is correct about insurance continuing education (CE) requirements?

An insurance producer is required to have at least 24 hours of continuing education biennially

violation of the Connecticut insurance law on rebating

An insurance producer offers a prospective insured free data processing services as an incentive to purchase a policy.

Buyers Guide-Medicare Supplement

Issuers of accident and sickness policies must provide application with this guide to health insurance for people with Medicare at the same time of application

resident producer license

Any resident of Connecticut who wants to sell, solicit, or negotiate insurance in the state must obtain a....

Considerations in replacing health insurance

Application forms must have a question to determine if the health insurance is supposed to replace another existing insurance policy. -if yes, applicant must read a notice review decision to replace primary insurance and sign and date it

Any person who acts as a certified insurance consultant without a license may be:

Fined up to $2,500 and/or imprisoned up to six months

Pre-existing Conditions

Insurance plans cannot refuse coverage for a pre-existing condition if its been over 12 months from when the insured's coverage began.

Limited Coverage

Means an insurance policy providing specified coverage that has an annual maximum benefit of up to $100,000 or fixed dollar benefits up to $200,000 on any core service -No insurer or health care center can provide this coverage to any employer as a replacement for a comprehensive health insurance plan for its employees.

Selection criteria and unfair discrimination

No life insurance company can allow any non-actuarial based distinction of people based on a protected class (such as race, gender, disability, age) for premium rates, payment of dividends or any other contract conditions

Representing an unauthorized insurer

No person in CT may sell, solicit, or negotiate insurance with an insurance company that does not have a license to do business in CT -Anyone that does may be fined up to $200,000 and or imprisoned up to six months - any contract in CT Created by an unauthorized insurer cannot be enforced in favor of the insurer

Group Health- Spousal Coverage same employer

When a husband and wife are both part of the group insurance one spouse must be covered as an employee and other as a dependent

licensing of life settlement providers and broker

a person must be licensed in order to negotiate life settlements. Potential licensees must submit a written application to the commissioner and pay a required fee.

Broker

a person who, for a fee or commission negotiates life settlement contracts between the life policy owner and a life settlement provider

tabular detail: illustration

a basic illustration must include the mode of payment, the guaranteed death benefit, guaranteed value, along with any other non-guaranteed elements -for each policy that has an illustration, the insurer must update policy holders annually as to the status of that policy, regarding dates and numbers

Insurance License

a document issued by the Commissioner authorizing a person as an insurance producer. The document itself does not create any authority for the holder to represent an insurance carrier.

Medicare replacement

a form must be given to anyone wanting to replace medicare coverage with another insurance in order to: help the person understand what happens during transition period -how it will effect current and new coverage include preexisting conditions -and sign notice

Policy Summary

a written statement of the elements of the policy, regarding it's costs and benefit information. The insurer's name, company name, phone number, and address must be included. It also has the annual premium for the basic policy, guaranteed amount payable upon death, guaranteed cash surrender values, cash dividends, percentage interest rate, and the date the this document was prepared. -it must be a separate document

boycott, coercion, intimidaion

acting, agreeing to act or inducing others to ____________ in order to gain leverage or monopoly in the insurance business

Buyer's Guide

an informational brochure for persons for Medicare, which is meant to improve the buyer's ability to select the most appropriate coverage and improve their understanding of Medicare. The Director may require that this be given along with the outline of coverage

Twisting

an insurance company or producer cannot misrepresent any other policy in order to influence the policy owner to surrender or lapse that policy in favor of another policy

Permitted compensation on medicare supplement policy

an issuer can pay an agent commission or compensation for selling these plans

Business of life settlements

any activity relating to life settlement contracts

HUSKY- newborn eligibility

eligible for benefits retroactive to birth

Core Service

means medical, surgical, and hospital services.

chronically ill

not being able to function in daily life

examination of books and records

the Commissioner has the right to do this of any licensee

For a newborn to be covered on the health plan

they may require a notification of birth along with premium fees -covered for 30 days after birth

Defamation of Insurer

Publishing information that falsely criticizes the financial condition of insurer and which is intended to damage any insurance person

Prohibited used of genetic information

-information about genes, gene products, or inherited characteristics insurance companies cannot refuse coverage or increase rates because of genetic information This information showing a predisposition to a disease or condition cannot be used as a preexisting condition

Reporting multiple medicare supplement policies

by March 1st of each year an insurer will report to the commissioner anyone that has more than 1 policy with -their policy number -date of issuance -any additional info needed

Interest on insurance proceeds

if an action is made to recover the proceeds due under a life insurance policy and result in a judgement against the insurer, interest will be charged starting from the date of the insured death. If no action is made, the interest is calculated daily beginning within 10 days after the insured death

Misrepresentation of insurance applications:

lying on an application for an insurance policy for the purpose of payment by the commission, or otherwise.

When recommending the purchase for replacement of any medicare supplement policy, an agent must:

make an effort to make sure they recommend the right replacement of purchase -an agent cannot sell one personal more than one policy

Misrepresentation and false advertising of insurance policies:

make anything that misrepresents the abilities of an insurance policy, dividends to be received, the financial conditions, intentionally misquote rates, or misrepresent the state of the insurance company's shares of stocks

Outline of coverage-Medicare supplements

must be given to the applicant when they apply -commissioner will provide the required format

Preexisting Conditions-Medicare supplement

policies cannot exclude or limit benefits more than 6 months from coverage beginning because of these conditions -this is a condition where medical advice was given or treated within 6 months before coverage began

LTC Right to Return (Free Look)

policyholder who purchased his coverage from a producer has the right to return the policy within 30 days of delivery and have all of the premium refunded if not satisfied for any reason

Required Disclosure provisions- Medicare supplement policies

renewal and continuation provision must be clearly labeled and captioned -if there are any limitations on preexisting condition there must be a paragraph labeled as such

An agent of a health care facility who must be aware of HIV to administer safe treatment

the following is required to have a written form of consent before the results of an HIV test may be released to them?

Rebating

the practice of providing some kind of finical incentive to a particular policyholder or prospective policyholder which is not offered in the policy or offered generally, the end result of which is to discriminate unfairly among customers -any bonus, payment, or dividend to policyholder must be applied fairly to all, described int he policy, and be in the best interest of the insurer -includes retroactively readjusting the premium rate based on loss or expense at the end of the policy year.

if an LTC policy replaced another LTC Policy

the replacing insurer will waive any time periods applying to preexisting conditions

Full time students

the residency requirement does not apply to them-they are allowed to remain on their parents health care plan

statements and signature: illustration

there must be a statement signed by applicants on the same page as the numeric summary saying they have received a copy of this illustration and understand that the non-guaranteed elements are subject to change

Outline of Coverage

this is a document that accompanies a policy, showing categories in the policy, a description of the benefits and coverage, a statement of exceptions and reductions, and limitations; renewal options; and a summary of the policy -if given at the time of application, a revised one must accompany the policy once it has been set up

Individual disability income insurance: CT minimum benefit standards

this provides periodic payments for a specified period during the continuance of disability resulting from sickness and/or injury

Conversion Privilege for COBRA

when an employer stop doing business, terminated employee whose health insure ended before terminated- has 90 DAYS from the date of discontinuation to buy a health insurance plan from the former insurer -the term and benefits must be at least equal to the previous coverage

Non-forfeiture benefit offer- LTC

when selling LTC policies an insurer must give the application an option to buy a policy with this option to meet this requirement, the insurer provides: -the return of premium -full benefits or reduced -another benefit approved by the commissioner -this benefit cannot be declined

Standard for Marketing Medicare Supplement

-have fair and accurate marketing standards -make sure excessive ins. cannot be sold -have a disclaimer that the policy may not cover all medical expenses -determine whether an applicant already has ins. coverage -have a credible way to verify information

Medicare Supplements- Open Enrollment

-Application is available to everyone over 65 years old -if they are eligible, the issuer will reduce the period of any preexisting condition exclusion -guaranteed renewable

The commissioner can place a probation, suspend, revoke, or refuse to issue or renew an insurance producer's license and/or levy civil penalties for one or more of the following causes:

-Providing incorrect information in the license application -violating any insurance laws or regulations -obtaining, or attempting to obtain a license through fraud -improperly withholding money -intentionally misrepresenting the terms of a contract -being a convicted of a felony -having committed insurance fraud -using fraudulent/dishonest practices -ect

Every group insurance policy must have an extension of benefits provision

-in case of total disability by the date the policy ends so that the group insurance policy ending will not effect the extension -this extension will go until individual is no long in a health care facility, no longer disable, or 12 months after

Group Health -Dependent Eligibility- including domestic partner/civil unions

-a spouse in the same sex marriage is to be treated the same a spouse in a heterosexual marriage -parties in a civil union are entitled to the same benefits as the spouses in a marriage -domestic partners can only be covered if the insurance policy specifically consider them an eligible dependent

Before a life settlement contract can be created between a provider and the insured who is terminally/chronically ill, the provider must get:

-a written statement from a physician that the insured is of a sound mind and -the insured to release medical records, with the required information and within the specified time-lines

LTC Inflation protection

-along with the policy, an insurer must offer a policy with periodic benefit level increases for anticipated increase in cost of services

suitability of recommended purchase for any Medicare Supplement Policy

-an agency must make an effort to make sure they recommend the right replacement or purchase -an agent cannot sell 1 person more than 1 policy

Medicare Supplement Advertising

-an issuer must give a copy of advertisement to the commissioner for review and approval

Backdating of Policies

-cannot be done more than 6 months before the application was made if the applicant was made if the applicant would rate at a younger age than when the application was made

Long term Care insurance (LTC)- standards for marketing

-comparisons of policies must be fair and accurate -do not sell excessive insurance -have a disclaimer that the policy may not cover all medical expenses -determine whether an applicant already has insurance coverage -have a credible way to verify information -CANNOT use cold leads

Coordination of benefits provision:

-determines the benefits of a person and the allowed payable -is for the primary insured individual -explains what happens for a claim of a dependent whose parents are divorced

Continuation of coverage under COBRA and CT specific rules

-each employer must all an individual to choose to continue coverage under a group plan -the succeeding insurer must cover an ongoing health care cost or treatment with premium payment -benefits cannot be reduced during the transition period

A medicare supplement policy will not:

-effect preexisting conditions within 6 months of the effective date of coverage -indemnify against losses from sickness of accident or -terminate someone unless they do not make payments

LTC Outline of coverage must:

-follow required format -be delivered to the applicant at the time of application -be a separate document -must not have any advertising -give the purpose of the outline -summarize the terms and coverage, and benefits -explain limitations and exclusions -give the premium information -any additional features

License requirements

-must be renewed every 2 years -complete at least 24 hours of approved continuing education (CE) every renewal period

Group health ins.- certificate of coverage must include:

-name and address of health care center -eligibility requirements -statement of co-payments or out of pocket expenses -Services to be provided -terms and conditions -claim procedure -grievance procedures -continuation of coverage -extension of benefits -description of services -disclaimers that the doc. will be kept whole

Required disclosure provision- LTC

-polices must contain a renewability provision, stating when the policy was issued and when it can be renewed -all riders and endorsement added to the policy after date of issue must be signed by the insured -all limitations must be clearly labeled in bold capital lettering in a separate paragraph

Small Employers- Benefit plan offered

-special health plans can be approved by the commissioner to create lower-cost insurance coverage for these uninsured employers -within 90 days those plans will be offered to the small employer -only eligible if they haven't had health insurance coverage in the last year -can only have special health care for a max. of 3 years

CT Partnership for Long term care is for people that need:

-substantial himan assitance in 2 or more activities of daily lving -who fail metal status questionnaire or have specific behavioral problems

Narrative Summary:illustrations

Basic illustrations must have a brief description of the policy being illustrated, as well as stating that it is a life insurance policy. There must be a description of the premium outlay or contract premium for the policy and the policy features both guaranteed and non-guaranteed

The Commissioner may conduct investigations and hearings

Can be conducted on any matter under the provisions of CT insurance law or regulation -at least 30 days notice of time and place -the commissioner will make written report of finders and through the Attorney General, and within 10 days after report, the commissioner may file petition in court

A limited lines producer circulates false statements about the financial condition of a competitor and is therefore guilty of:

Defamation

Cease and desist order- commissioner may order the following penalties

Payment of monetary penalty up to $5000 for each act or violation;suspension or revocation of the person's license; or restitution of any money earned in violation of the provisions.

Right to examine- free look

a life insurance policy delivered to anyone in CT must have a notice stating that the policy can be returned by the applicant for cancellation, without a reason, and money returned within 10 days of receiving policy

Commissioner's duties/powers

ensures that all laws for insurance companies and health care centers are executed and followed -suggest changed to the General Assembly as they see fit -have no legislative power -responsible for regulating rules within their states

False Financial Statements

falsifying entries, reports, or statements of an insurer to deceive any agent or examiner of the financial standing of the insurer

Numeric Summary: illustration

following the narrative summary -basic illustrations must include a numeric layout of death benefits, values, and contract premium

False Advertising

giving misleading information about the insurance company or the policies, making/publishing or circulating published information that contains any information about the insurance company's business that is false, deceptive, or misleading

Credit for previously satisfied pre-existing conditions

if a group health insurance policy is discontinued and has to be replaced by another similar policy the new insurer must give credit based on the previous insurance benefits. -it removes any risk of excluding them

Individual disability income insurance: Relation of earning to insurance

if a person on disability has benefits that exceed his monthly earning, the insurer is liable for only the amount of benefits that the monthly earning can cover

Military Suspense Provision / Military service Exclusion

if a policy has this exclusion that suspends coverage during military service, the policy must provide refund of premium on a pro rata basis

Cease and desist order

if the commissioner has reason to believe an individual is engaged in an unfair method of competition or deceptive act, he will serve the person with a statement explaining charged or complaints against the individual. The process is then taken to a hearing, after which the Commissioner may issue the person a copy of the findings along with an order to _________ from particular activities.

Renewability Clause

if the insured individual dies, the spouse is considered as the insured is considered as the insured and the policy cannot be terminated. -if an insurer cancels or refuses to renew a policy, pregnancy allows the benefits to be extended as if the policy were still in force

Capital and Surplus Requirement

in order to do business in CT, an insurance company must follow the minimum requirement -a company that wants to transact more than one type of insurance must meet the total minimum requirements for each insurance type offered

Certificate of authority

insurance companies and health care centers in CT must have this certificate issued by the commissioner before they can do business -insurers must show evidence of ability to provide continuous and timely claims settlements -the commissioner may then approve them fro this certificate

Infertility coverage

insurance must cover the necessary expenses of diagnosis and treatment of this -there can be restrictions such as coverage ends when the individual turn 40 years old, a max. number of ovulation cycles, or a period of time that the person is covered

Disclosures: accelerated benefits and Long term care

-disclosures must be made to the insured of the potential tax implication of receiving death benefits/ payout while they are still living -a 10 day free look period must apply in which the applicant can cancel - the insurer will first give them a statement of how them receiving benefits will effect their overall policy.

Dependent child age limit- individual/group plans

-ends when the child marries, moves out of state, is covered by their own, or reaches age 26. -The residency policy does not apply to dependent children under 19 or full-time college students -step child same as biological

Advertising for accident and sickness insurance must be along these guidelines

-all exceptions, reductions and limitations clearly stated -Any related dates must be posted -if dealing with pre-existing conditions-the word must defined and it must clearly list what is required and what is not guaranteed -if explaining renewing or cancelling, the reasons must be listed ....

HUSKY- child eligibility

-an application to determine parent information of housing, employment, and possible insurance coverage -if an applicants information ever changes they must report those changes or risk being no longer eligible -any falsifying of information will lead to court prosecution by the state and recover costs

Failure to remit premiums

-authorized insurance companies are required to report to the commissioner: - if an insurance producer doesn't send premiums for policies within 30 days of the due date or when a producer issues a check to an insurer that bounces and isn't paid within the next 15 days -if the producer is receiving premiums and not sending them to the proper company their license can be suspend or revoked

physically or mentally handicapped dependents who reached age 26

-can remain on their parents health care plan if -the child cannot work and is mainly dependent on the policyholder (parent) for support -proof of both must be sent to the insurer within 30 days of reaching age limit

illustrations used in the sale of a life insurance policy must contian the following information:

-insurer's name and contact info -name, age, sex of potential insured -classification of illustration -initial death benefit -policy name and form number -dividend options

Advertising

-insurers and producers are held responsible -must be truthful and not misleading -the form and content must be as clear as possible with the intent to avoid misunderstanding. -For Life insurance and annuities cannot use words like "investment", "charter plan". "profit", "savings" or similar terms. -copies must be kept on filed for at least 4 years or until next examination by the commissioner

illustrations

-is a presentation or depiction of benefits or performance of a policy of life insurance which can be given to clients along with advertising or promotional materials to better understand a policy -results displayed may be hypothetical and reflect the assumptions an insurer used to determine potential results under the policy -each insurer must notify the CT State agencies whether or not a policy form will have this

Unfair claim settlement practices

-misrepresenting facts or policy -delaying insurance claims -not having company policies that ensure timely investigation of insurance policy claims -denying claims without investigating -not approving/denying in a timely manner -not fulfilling insurance claims after liability have become clear -trying to settle a claim for less than specified -trying to settle by changing information on the application -not including a statement of the claim, along with payment to the insured -not providing explanation for denial

Continuing Education (CE)

-must complete at least 24 hrs every renewal -3 of the required hours must be in insurance ethics -6 of the required hours must be in lines of authority for which the producer is license -nonresident licensees not required to complete if they fulfill comparable requirements

How long do agents have to notify the Commissioner of a criminal conviction?

30 days

if a child has insurance through a noncustodial parent, the insurer must:

-provide that information to the custodial parent -allow the custodial parent to receive claims without approval from the noncustodial parent -make payments on the claims

An insurer cannot deny coverage of a child on the parents health plan if:

-the child was born out of wedlock -the child was not claimed on the federal income tax return -the child doesn't live with the parent or in the service area -the child is eligible and/or receiving state medical assistance -if court requires parent to provide health insurance, open enrollment restrictions do not apply

Replacement Regulations

-the commissioner can make regulations on the sale by determining the form of the offer, the form of replacement notice, the questions required in new insurance or annuities application, and the form of the notice to the purchaser -these regulations are designed to protect an insured from unknowingly giving up rights or value in an existing contract by replacing the contract with a potentially less-favorable contract

Required Disclosures for Life Settlements

-there are possible alternatives to life settlements -some or all of the proceed of a life settlement are taxable -life settlement may affect owner's eligibility for gov't benefits -a life settlement contract can be canceled within 15 days -proceeds can be claimed by creditors -proceeds are sent 3 days after transfer -the commissioner will require buyers guide

Medical Examinations and lab tests (including HIV Consent)

all exams and test must have written consent and information obtained must be kept confidential

Life Settlement

an agreement in which a terminally ill policy owner sells their life insurance policy at a discount for cash to a third party

Commissions

an insurance company or producer cannot pay a _________ to a person for selling, soliciting, or negotiating insurance in CT if that person is supposed to be licenses but is not -no unlicensed individual may accept payment for conducting insurance business

Use and Disclosure of Insurance Information

an insurance institution or agent cannot give away an individuals personal information unless the disclosure is -made with written authorization from the individual -medical institution -required by law -for an audit -for a consumer reporting agency -etc

Appointing an Agent/ Acting as an Agent

an insurance producer must be appointed an agent of an insurer in order to act as such -an insurer must file a form within 15 days of appointment -The commissioner will verify that the insurance producer is eligible -the insurers must pay a fee for appointing them

advertisement

any communication to create interest in insurance transactions

financing entity

any entity that has direct ownership in a life settlement policy or contract

Assign beneficiaries

any person who has a life insurance policy can do this -the purpose of this is to pass the rights, benefits, and incidents of ownership on to someone else, who the insurer will then treat as they would the insured person

following may be a result of $250-2,500 fine or imprisoned no more than six months

any persons acting as a certified insurance consultant without a licenses or during suspension

Right to Examine (free look)

applicants have the right to return the policy within 30 days of delivery and have a premium refunded if the applicant is not satisfied for any reason -10 days for Life Insurance -30 days for supplemental policies and medicare -20 days if replacing a policy

Accelerated Benefits

are death benefits that are payable to an insured from a life insurance policy while the insured is still living but enduring an aggressive terminal illness -receipt of accelerated benefits by the insured results in a direct reduction in the amount of death benefits the beneficiary will receive -Upon diagnosis of a terminal illness by a qualified physician, a portion of the benefits are delivered during the insured's lifetime as a lump sum or in periodic payments, depending on the insured's life expectancy (0-24 months).

Long term care (LTC)

as a benefit/provision which adds to the policy means that death-benefits are payable under the life insurance policy to the policy owner during his/her lifetime if they are confined to a long-term care facility. It reduces the death benefit and is payable in periodic payments upon confinement.

Pre-existing conditions policies

can only be about conditions treated or recommended 6 months prior to the date of coverage. -coverage on a previous policy do not limit the insured

Group life conversion to individual policy

if a persons insurance ends because their employment is terminate they have the right to have their insurer offer them an individual life insurance policy. The amount of the life insurance cannot cost more than the insurance they had while employed. -same applied if the group policy is terminated for a reason other than nonpayment -if a person died during the change period-their life insurance claim must be paid

Notice of information practices

insurance businesses or agents must give a _____________ to all applicants or policyholders. This includes the kinds of personal information they can collect and the use for the information. Any disclosure of information must be authorized, and it must be clearly stated whom it will be disclosed to.

Limited line credit insurance

insurance offered in connection with a line of credit that is limited to partially or wholly removing that credit obligation. The Commissioner determines what must be designated a form of limited line credit insurance.

Application Procedures

insurers and producers must be given a notice of information practices to all applicants or policyholders. this notice includes the kind of personal information they can collect and how they will use that information. - any disclosures of information must be authorized, and clearly state the people it will be disclosed to.

Life and Health Insurance Guaranty Association

is an association of insurer which guarantees payment of benefits and continuation of coverage in the event the insurer insolvency as protection to both the insured and the insurers. -it's unlawful to advertise the protection provided by this association in the solicitation of insurance -ensures that coverages continue and benefits are paid

a terminal illness

is defined as one that is expected to result ind death within 0-24 months following diagnosis

CT Children's Health Insurance Plan (HUSKY)- Plan A

is for subsidized families who are 185%-300% of the federal poverty line

CT Children's Health Insurance Plan (HUSKY)- Plan B

is for unsubsidized families over 300% of the federal poverty level -requires a premium payment or copayment

unfair discrimination

its illegal to judge any individual on the basis of a protected class or any non-actuarial based principals including: -refusing to insure or continue to insure an individual b/c of physical or mental disability except if on an actuarial principles -refusing to insure or continue to insure blind individual

Market Value adjusted annuities (modified guaranteed annuities)

means a deferred annuity contract, where the assets are held in a separate account and the value are guaranteed if held for specified periods. Companies offering these have to be licenses to do life insurance or annuity business in CT and approved by the commissioner to offer annuities

Format of illustration

must be labeled with the date it was made, the pages numbered, payment due dates clearly stated, non-guaranteed and guaranteed elements must be clearly labeled

failure to maintain complaint record

not keeping a complete record of all the complains lodged against an insurer, including the total number of complaints, insurance classification, nature of the complaint, results of complaints, and the time it took to process the complaints