Florida Regulations 69O-162.010: Selling Methods and Advertising
Current as of: 2024 | Check for updates
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(1) All companies authorized to issue and deliver contracts on a variable basis, all contracts, certificates and other forms in connection therewith, and all agents and other representatives are subject to the provisions of Chapter 626, Part VII, Florida Statutes.
(2) Illustration of benefits payable under any variable annuity contract shall not involve projections of past investment experience into the future or attempted predictions of future investment experience.
(3) No advertising, sales literature, or sales presentation for contracts on a variable basis shall be misleading, deceptive or inadequate in any way.
Specific Authority 627.805 FS. Law Implemented 626.9521, 626.9541 FS. History-Repromulgated 12-24-74, Formerly 4-10.10, 4-10.010, 4-162.010.
Terms Used In Florida Regulations 69O-162.010
- 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.
- Contract: A legal written agreement that becomes binding when signed.
(3) No advertising, sales literature, or sales presentation for contracts on a variable basis shall be misleading, deceptive or inadequate in any way.
Specific Authority 627.805 FS. Law Implemented 626.9521, 626.9541 FS. History-Repromulgated 12-24-74, Formerly 4-10.10, 4-10.010, 4-162.010.