Act 154 of 1996, The Life Insurance Marketing Practices Act, amends the act of May 17, 1921 (P.L. 682, No. 284) known as The Insurance Company Law. Act 154 applies to all companies licensed to conduct life insurance and annuity business in Pennsylvania, and all producers licensed to sell life insurance or annuities in Pennsylvania.
Act 154 provides for changes to the Insurance Company Law regarding issues such as the "Free Look" provisions, financial planning practices, policy delivery, illustrations and internal audit procedures.
Act 154 provides for changes to the Insurance Company Law regarding issues such as the "Free Look" provisions, financial planning practices, policy delivery, illustrations and internal audit procedures.
"FREE LOOK" PROVISIONS
FINANCIAL PLANNING PRACTICES
POLICY DELIVERY
ILLUSTRATIONS
INTERNAL AUDIT PROCEDURES
REPLACEMENTS WITH THE SAME COMPANY
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