Life Insurance Basics
May a New York producer point to the Life Insurance Company Guaranty Corporation as a reason to buy?
Answer and explanation
Answer: D. Section 7718 prohibits any person, including an insurer, agent, or affiliate, from publishing or disseminating an advertisement that uses the existence of the corporation for the purpose of sales, solicitation, or inducement to purchase insurance. Accuracy, consent, and the medium do not lift the prohibition.Source: N.Y. Ins. Law § 7718 — 7718, Advertising the corporation
More life insurance basics questions
- What should a producer do when delivering an issued life insurance policy?
- What standard does New York's Regulation 187 apply to a producer's recommendation on a life policy or annuity?
- What underwriting difference distinguishes group life from individual life insurance?
- What use of a senior-specific certification does New York's Regulation 199 prohibit?
- When is a statement of good health obtained on delivery of a life insurance policy?
- When may an insurer disclose an applicant's personal information without a specific authorization?
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