New Hampshire Revised Statutes 404-D:3 – Scope
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I. This chapter shall apply to direct life insurance policies, health insurance policies, annuity contracts, and contracts supplemental to life and health insurance policies and annuity contracts issued by persons authorized to transact insurance in this state at any time. The term health insurance is intended to include “accident and health” insurance, “sickness and accident” insurance, and “disability” insurance.
II. This chapter shall not apply to:
(a) Any such policies or contracts, or any part of such policies or contracts, under which the risk is borne by the policyholder.
(b) Any such policy or contract or part thereof assumed by the impaired insurer under a contract of reinsurance, other than reinsurance for which assumption certificates have been issued.
(c) Any such policy or contract issued by assessment mutuals, fraternals, health maintenance organizations and nonprofit hospital and medical service plans.
II. This chapter shall not apply to:
Terms Used In New Hampshire Revised Statutes 404-D:3
- 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.
- Impaired insurer: means :
(a) An insurer which after the effective date of this chapter, is declared insolvent and placed under a final order of liquidation, rehabilitation, or conservation by a court of competent jurisdiction, or
(b) An insurer deemed by the commissioner after the effective date of this chapter to be unable to fulfill its contractual obligations. See New Hampshire Revised Statutes 404-D:5 - state: when applied to different parts of the United States, may extend to and include the District of Columbia and the several territories, so called; and the words "United States" shall include said district and territories. See New Hampshire Revised Statutes 21:4
(a) Any such policies or contracts, or any part of such policies or contracts, under which the risk is borne by the policyholder.
(b) Any such policy or contract or part thereof assumed by the impaired insurer under a contract of reinsurance, other than reinsurance for which assumption certificates have been issued.
(c) Any such policy or contract issued by assessment mutuals, fraternals, health maintenance organizations and nonprofit hospital and medical service plans.