Ga. Comp. R. & Regs. R. 120-2-10-.04 - Misleading Terms Prohibited

(1) Words such as "Founders Plan", "Charter Policy", "Expansion Plan", or "Profit-Sharing" have a tendency to mislead a purchaser or prospective purchaser of insurance or annuity to believe that he will receive something other than an insurance policy, annuity policy, or some benefit not available to other persons of the same class and expectation of life. Therefore, the use of such words or any other words that imply special privileges or benefits to the owner or insured persons not available to other persons of the same class and expectation of life in any insurance or annuity contract is prohibited.

(2) The use of such words in printed material or oral presentations in a context which will mislead a purchaser or prospective purchaser of insurance or annuity to believe he will receive something other than an insurance policy, annuity policy, or some benefit not available to a person of the same class and expectation of life is prohibited.

(3) Use of the words "investment" or "profit" in a context or under such circumstances or conditions as to have the capacity and tendency to mislead a purchaser or prospective purchaser to believe that he will receive, or that it is a possibility that he will receive, something other than an insurance policy, some benefit not provided in the policy, or some benefit not available to other persons of the same class and equal expectation of life is prohibited.

Notes

Ga. Comp. R. & Regs. R. 120-2-10-.04

O.C.G.A. Sec. 33-2-9.

Original Rule entitled "Misleading Terms Prohibited" was filed on November 13, 1967; effective November 1, 1967.