Mississippi Insurance Department REGULATIONS on twisting, rebating through package policies, advertising, stock-sale promotion, trusteed group accounts, and military sales practices

What this document is

19 Miss. Admin. Code, Part 1 (General), Chapters 1, 2, 3, 4, 10 and 37 - Mississippi Insurance Department REGULATIONS on twisting, rebating through package policies, advertising, stock-sale promotion, trusteed group accounts, and military sales practices is a regulation published by Mississippi Insurance Department (mid.ms.gov). It is one of the Mississippi documents that insurance license exam questions are written from, including mississippi life & health, mississippi property & casualty, mississippi personal lines practice questions. This page summarizes it and points to the official version, which is the text to rely on.

Sections cited in practice questions

Each practice answer shows the exact passage it comes from. These are sections of this document that questions cite, with a short excerpt from the source text.

• 19 Miss. Admin. Code Part 1, Chapter 4, Rule 4.01 (Promotion of Stock Sales with Insurance Sales)

  “Recognizing the difficulty of adequately supervising insurance sales as so to prevent joint sales of stock and insurance, it is hereby ordered that no insurance salesman shall be licensed at the same time as a stock salesman for the same company.”

• 19 Miss. Admin. Code Part 1, Chapter 37, Rule 37.06 (Military Sales Practices: Practices Declared False, Misleading, Deceptive or Unfair on a Military Installation)

  “The following acts or practices when committed on a military installation by an insurer or insurance producer with respect to the in-person, face-to-face solicitation of life insurance are declared to be false, misleading, deceptive or unfair: 1. Knowingly soliciting the purchase of any life...”

• 19 Miss. Admin. Code Part 1, Chapter 2, Rule 2.01 (Package Policies; Rebates, Prohibitions, Penalty)

  “No agent shall use his or her insurance business to promote any other business either directly or indirectly by including policies of insurance with sales of other items, either gratis or at a reduced premium. Any such related transaction shall be considered rebating and any published advertisement...”

• 19 Miss. Admin. Code Part 1, Chapter 10, Rule 10.01 (Sale of Trusteed Life, Health and Accident Insurance Group Accounts)

  “On and after this date, it shall be unlawful for any insurance company to solicit, sell or underwrite the sale of any trusteed group insurance account within the State of Mississippi, directly or indirectly, unless and until it shall have previously filed for public record with the Mississippi...”

• 19 Miss. Admin. Code Part 1, Chapter 3, Rule 3.01 ((LA&H 53-1) Advertising Restrictions)

  “Within the past few months certain agents have published insurance advertising that has been confusing to the general public. I, therefore, feel that it is incumbent upon me as Insurance Commissioner to advise all Mississippi Agents that any further misleading or confusing advertising, whether...”

• 19 Miss. Admin. Code Part 1, Chapter 37, Rule 37.04(C) (Military Sales Practices: Exemptions)

  “C. For purposes of this regulation, general advertisements, direct mail and internet marketing shall not constitute “solicitation.”Telephone marketing shall not constitute "solicitation" provided the caller explicitly and conspicuously discloses that the product concerned is life insurance and...”

• 19 Miss. Admin. Code Part 1, Chapter 37, Rule 37.07(E)(5) (Military Sales Practices: Practices Declared False, Misleading, Deceptive or Unfair Regardless of Location, disclosure)

  “E. The following acts or practices by an insurer and or insurance producer regarding disclosure are declared to be false, misleading, deceptive or unfair: 1. Deploying, using or contracting for any lead generating materials designed exclusively for use with service members that do not clearly and...”

• 19 Miss. Admin. Code Part 1, Chapter 37, Rule 37.07(F)(5) (Military Sales Practices: Practices Declared False, Misleading, Deceptive or Unfair Regardless of Location, sale of certain life insurance products)

  “F. The following acts or practices by an insurer or insurance producer with respect to the sale of certain life insurance products are declared to be false, misleading, deceptive or unfair: 1. Excluding individually issued annuities, recommending the purchase of any life insurance product which...”

• 19 Miss. Admin. Code Pt. 1, Ch. 1, Rule 1.01 (F&C 37-1, Prohibition of "Twisting" Insurance Products)

  “After a careful examination of the complaint the Commission is of the opinion that such practice is contrary to the law and an injustice to the borrower in that he should be compelled to cancel his insurance or be denied the right of renewing previous contracts of insurance, provided, the said...”

• 19 Miss. Admin. Code Pt. 1, Ch. 3, Rule 3.01 (LA&H 53-1, Advertising Restrictions)

  “Within the past few months certain agents have published insurance advertising that has been confusing to the general public. I, therefore, feel that it is incumbent upon me as Insurance Commissioner to advise all Mississippi Agents that any further misleading or confusing advertising, whether...”

• 19 Miss. Admin. Code Pt. 1, Ch. 2, Rule 2.01 (LA&H 52-1, Package Policies; Rebates, Prohibitions, Penalty)

  “No agent shall use his or her insurance business to promote any other business either directly or indirectly by including policies of insurance with sales of other items, either gratis or at a reduced premium. Any such related transaction shall be considered rebating and any published advertisement...”

• 19 Miss. Admin. Code Pt. 1, Ch. 4, Rule 4.01 (LA&H 57-1, Promotion of Stock Sales with Insurance Sales)

  “Recognizing the difficulty of adequately supervising insurance sales as so to prevent joint sales of stock and insurance, it is hereby ordered that no insurance salesman shall be licensed at the same time as a stock salesman for the same company.”

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More Mississippi sources

• Miss. Code Ann. Title 83, Chapter 5, Article 1 - Unfair Trade Practices (the Unfair Practices sections, §§ 83-5-27 to 83-5-51, complete)State statute
• 19 Miss. Admin. Code, Part 3 (Accident and Health), Chapters 1, 2, 3, 4, 5 and 7 - Mississippi Insurance Department REGULATIONS on accident and sickness policy filing, 'non-cancelable' and 'guaranteed renewable' terminology, advertising, and coordination of benefitsRegulation
• 19 Miss. Admin. Code, Part 1, Chapter 24 - Mississippi Insurance Department REGULATION prescribing the Mississippi Life and Health Insurance Guaranty Association summary document and requiring its delivery to the policy or contract ownerRegulation
• 19 Miss. Admin. Code, Part 2 (Life) - Mississippi Insurance Department REGULATIONS on life and annuity contracts, variable and universal life, credit life, illustrations, replacement and annuity suitabilityRegulation
• 19 Miss. Admin. Code - Mississippi Insurance Department REGULATIONS on Medicare supplement and long-term care insurance minimum standardsRegulation
• 19 Miss. Admin. Code, Part 6 (Agents), Chapters 1, 2, 3 and 5 - Mississippi Insurance Department REGULATIONS on producer licensing, temporary and special industrial life/health licenses, agent commissions, and license revocationRegulation
• Mississippi Insurance Content OutlinesCandidate handbook or exam outline
• Mississippi Insurance Licensing Candidate HandbookCandidate handbook or exam outline