Regulation · Pennsylvania

Requirements for Certain Life Insurance Policies and Sales Practices

31 Pa. Code Chapter 87

Publisher: Pennsylvania Insurance Department
Edition: 31 Pa. Code, current through 56 Pa.B. 3438
Last checked: 2026-09-10
Status: Pennsylvania Code

Edition and licensing notes

Publisher. Pennsylvania Insurance Department (Pennsylvania Code, pacodeandbulletin.gov)

Edition. 31 Pa. Code, current through 56 Pa.B. 3438 (June 6, 2026)

Status. Pennsylvania Code (31 Pa.

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What this document is

31 Pa. Code Chapter 87 - Requirements for Certain Life Insurance Policies and Sales Practices is a regulation published by Pennsylvania Insurance Department (Pennsylvania Code, pacodeandbulletin.gov). It is one of the Pennsylvania documents that insurance license exam questions are written from, including pennsylvania life & health 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.

31 Pa. Code § 87.29 (Illustration of future dividends)
“A life insurance company, broker, agent, solicitor or representative may not provide an illustration or projection of future dividends on a policy, unless either of the following apply: (1) The illustration or projection is based upon the experience currently used by the insurance company for...”
31 Pa. Code § 87.26 (Implying limited availability of policy)
“A life insurance company, solicitor, broker, agent or representative may not state or imply that only a limited number of persons, or a limited class of persons will be eligible to buy a particular kind of policy, unless the limitation is related to recognized underwriting practices and may be...”
31 Pa. Code § 87.13(d)(1) (Certifications and maintenance of disclosure form delivery)
“The agent or representative shall submit to the insurer with or as a part of the insurance application a statement, signed by him, certifying that the written disclosure form was given no later than the time that the application was signed by the applicant.”
31 Pa. Code ch. 87 § 87.13(c)(5) (Modified premium life policies: use of the term deposit)
“The term ‘‘deposit’’ may not be used in referring to the additional first-year premium.”
31 Pa. Code ch. 87 § 87.13(c)(2) (Modified premium life policies: minimum disclosure requirements)
“A disclosure shall be included in conspicuous print on the first page or specifications page of the policy indicating that, if the policy is terminated prior to a certain policy year, all or a portion of the additional first-year premium will be forfeited.”
31 Pa. Code ch. 87 § 87.6 (Policy name or title)
“An insurance company, insurance agent or insurance company representative may not deliver within this Commonwealth, or issue for delivery within this Commonwealth, a policy of life insurance without the use of the words ‘‘life insurance’’ in its name or title or the use of other language clearly...”
31 Pa. Code ch. 87 § 87.3(b)(5) (Guaranteed annual endowments)
“The amount of each of the pure guaranteed annual endowments shall be expressed in dollars, both in the policy and in sales or advertising material relating thereto, not as a percentage of a premium or benefit.”

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