Florida Regulations 69O-151.004: Exemptions
Current as of: 2024 | Check for updates
|
Other versions
Unless otherwise specifically included, paragraph 69O-151.007(3)(b) and subsection 69O-151.008(1), F.A.C., shall not apply to:
(1) Industrial Insurance;
(2) Group, franchise, and individual credit life insurance;
(3) Group life insurance and life insurance policies issued in connection with a pension, profit sharing or other benefit plan qualifying for tax deductibility of premiums;
(4) An application to the existing insurer that issued the existing life insurance where a contractual change or conversion privilege is being exercised;
(5) Existing life insurance that is a non-convertible term life insurance policy which will expire in five years or less and cannot be renewed, unless such policy has tabular cash values; or
(6) Proposed life insurance that is to replace existing life insurance issued under a binding or conditional receipt delivered by the same company;
(7) Variable life insurance or annuities under which the death benefits and cash values vary in accordance with unit values of investments held in a separate account,
(8) Transactions involving annuity contracts which are governed by Fl. Admin. Code R. 69B-162.011
Rulemaking Authority 624.308, 626.9611, 626.9641 FS. Law Implemented 624.307(1), 626.9521, 626.9541, 626.9641, 627.4554 FS. History-New 7-9-81, Formerly 4-24.03, Amended 2-2-83, Formerly 4-24.13, 4-24.013, 4-151.004, Amended 1-4-24.
Terms Used In Florida Regulations 69O-151.004
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
(2) Group, franchise, and individual credit life insurance;
(3) Group life insurance and life insurance policies issued in connection with a pension, profit sharing or other benefit plan qualifying for tax deductibility of premiums;
(4) An application to the existing insurer that issued the existing life insurance where a contractual change or conversion privilege is being exercised;
(5) Existing life insurance that is a non-convertible term life insurance policy which will expire in five years or less and cannot be renewed, unless such policy has tabular cash values; or
(6) Proposed life insurance that is to replace existing life insurance issued under a binding or conditional receipt delivered by the same company;
(7) Variable life insurance or annuities under which the death benefits and cash values vary in accordance with unit values of investments held in a separate account,
(8) Transactions involving annuity contracts which are governed by Fl. Admin. Code R. 69B-162.011
Rulemaking Authority 624.308, 626.9611, 626.9641 FS. Law Implemented 624.307(1), 626.9521, 626.9541, 626.9641, 627.4554 FS. History-New 7-9-81, Formerly 4-24.03, Amended 2-2-83, Formerly 4-24.13, 4-24.013, 4-151.004, Amended 1-4-24.