Which of the following may NOT be included in the Insurance companies advertisement

Prohibited advertisement of insurance guaranty association act in insurance sales—Notice to policy owners.

(1) No person, including a member insurer, agent, or affiliate of a member insurer may make, publish, disseminate, circulate, or place before the public, or cause directly or indirectly, to be made, published, disseminated, circulated, or placed before the public, in any newspaper, magazine, or other publication, or in the form of a notice, circular, pamphlet, letter, or poster, or over any radio station or television station, or in any other way, any advertisement, announcement, or statement, written or oral, which uses the existence of the insurance guaranty association of this state for the purpose of sales, solicitation, or inducement to purchase any form of insurance or other coverage covered by the Washington life and disability insurance guaranty association act. However, this section does not apply to the Washington life and disability insurance guaranty association or any other entity which does not sell or solicit insurance or coverage by a health care service contractor or health maintenance organization.

(2) The association shall prepare a summary document describing the general purposes and current limitations of this chapter and complying with subsection (3) of this section. This summary document must be submitted to the commissioner for approval. The summary document must also be available upon request by a policy owner, contract owner, certificate owner, or enrollee. The distribution, delivery, contents, or interpretation of this document does not guarantee that either the policy or the contract or the policy owner, contract owner, certificate holder, or enrollee is covered in the event of the impairment or insolvency of a member insurer. The summary document must be revised by the association as amendments to this chapter may require. Failure to receive this document does not give the policy owner, contract owner, certificate holder, enrollee, or insured any greater rights than those stated in this chapter.

(3) The summary document prepared under subsection (2) of this section must contain a clear and conspicuous disclaimer on its face. The commissioner shall establish the form and content of the disclaimer. The disclaimer must:

(a) State the name and address of the life and disability insurance guaranty association and insurance department;

(b) Prominently warn the policy owner, contract owner, certificate holder, or enrollee that the life and disability insurance guaranty association may not cover the policy or contract or, if coverage is available, it is subject to substantial limitations and exclusions and conditioned on continued residence in this state;

(c) State the types of policies or contracts for which guaranty funds provide coverage;

(d) State that the member insurer and its agents are prohibited by law from using the existence of the life and disability insurance guaranty association for the purpose of sales, solicitation, or inducement to purchase any form of insurance, health care service contractor coverage, or health maintenance organization coverage;

(e) State that the policy owner, contract owner, certificate holder, insured, or enrollee should not rely on coverage under the life and disability insurance guaranty association when selecting an insurer, health care service contractor, or health maintenance organization;

(f) Explain rights available and procedures for filing a complaint to allege a violation of any provisions of this chapter; and

(g) Provide other information as directed by the commissioner including but not limited to, sources for information about the financial condition of member insurers provided that the information is not proprietary and is subject to disclosure under chapter 42.56 RCW.

(4) A member insurer must retain evidence of compliance with subsection (2) of this section for as long as the policy or contract for which the notice is given remains in effect.

Producers Please Note: DIFS no longer reviews and approves advertising prior to use. However, the administrative rules that apply to Accident & Sickness, Life Insurance and Annuities advertisements have long been followed as the standard for acceptable advertising in all lines of insurance regulated by DIFS. Therefore, agents (producers) should review the complete Accident and Sickness Insurance Advertising administrative rules and the Advertisement of Life Insurance and Annuities administrative rules for further guidance.

These are the main elements of acceptable and unacceptable advertising:

1. Ad must include the name of the insurer. R 500.1379, R 500.664
2. Any slogan cannot be more prominent than the name of the insurer. R 500.1379
3. Ad cannot be misleading. R 500.1379, R 500.652, R 500.654, R 500.655
4. Ad must be truthful and clearly identify the product being sold. R 500.1375, R 500.654
5. Any statistics quoted in the ad must also include the source of those statistics. For example, if the ad announces, "Newsweek has rated ABC the strongest long term care insurer," then this statement must include a reference noting issue and date of the Newsweek article that contains that statistic and/or made that statement. R 500.1377, R 500.653
6. If the ad includes a rating, such as AM Best, it must also include the timeframe when the rating was issued. R 500.1383, R 500.653
7. The ad cannot create the impression that it is either endorsed or approved by the state or federal government. R 500.664
8. The ad cannot create the impression or imply (through envelopes, stationery, postcards, etc.) that the insurer or agent is connected with a state or federal governmental agency such as the Social Security Administration or the Veterans Administration. R 500.1379, R 500.654
9. The ad cannot include the word "Medicare" in the title of the plan or policy being advertised without clearly differentiating it from Medicare. R 500.664
10. The ad cannot use the terms: investment, investment plan, expansion plan, profit, profits, profit sharing, interest plan, savings, savings plan or other similar terms which may mislead a consumer into believing an insurance policy is an investment. R 500.1375, R 500.655

All advertising must be "truthful and not misleading." If you take a common sense approach to advertising, you should be in compliance with the Insurance Code, and your consumers will be happy to do business with an honest, trustworthy agent. See also MCL 500.2026; MCL 500.2027; MCL 500.2057; MCL 500.2080.

Which of the following may not be included in an insurance company's advertisements?

Which of the following must be disclosed in all advertisements and policies of term life?

Who among the following is not considered to be a producer?

Which of the following will be included in a policy summary?