Definitions

Section 909 Section 909.20  Definitions For the purpose of this Part: "Advertisement" does not include: Communications or materials used within an insurer's own organization and not intended for dissemination to the public; Communications with policyholders other than material urging policyholders to purchase, increase, modify, reinstate or retain a policy; A general announcement from a group or blanket policyholder to eligible individuals on an employment or membership list that a policy or program has been written or arranged, provided the announcement clearly indicates that it is preliminary to the issuance of a booklet explaining the proposed coverage. "Advertisement" means material designed to create public interest in life insurance or annuities or in an insurer, or to induce the public to purchase, increase, modify, reinstate or retain a policy including: Printed and published material, audio-visual material and descriptive literature of an insurer used in direct mail, newspapers, magazines, radio and television scripts, billboards and similar displays; Descriptive literature and sales aids of all kinds issued by an insurer or agent, including but not limited to circulars, leaflets, booklets, depictions, illustrations and form letters; Material used for the recruitment, training and education of an insurer's sales personnel, agents, solicitors and brokers that is designed to be used or is used to induce the public to purchase, increase, modify, reinstate or retain a policy; Prepared sales talks, presentations and material for use by sales personnel, agents, solicitors and brokers. "Code" means the Illinois Insurance Code [215 ILCS 5]. "Currently Payable Scale" means a scale of non-guaranteed elements in effect for a policy form as of the preparation date of the illustration, or declared to become effective within the next 95 days after the preparation date. "Department" means the Department of Insurance. "Director" means the Director of the Illinois Department of Insurance. "Disciplined Current Scale" means a scale of non-guaranteed elements constituting a limit on illustrations currently being illustrated by an insurer that is reasonably based on actual recent historical experience, as certified annually by an illustration actuary designated by the insurer. "Illustrated Scale" means a scale of non-guaranteed elements currently being illustrated for policies other than variable life insurance, individual and group annuity contracts, credit life insurance, or life insurance policies and certificates with guaranteed death benefits of $10,000 or less, or illustrated death benefits less than $15,000, that is not more favorable to the policy owner than the lesser of: The disciplined current scale; or The currently payable scale. "Insurer" includes any organization or person that issues life insurance or annuities to residents of this State. "Non-guaranteed Elements" means premiums, benefits, values, credits or charges under a policy of life insurance that are not guaranteed or not determined at issue. "Policy" includes any policy, plan, certificate, contract, agreement, statement of coverage, rider or endorsement that provides for life insurance or annuity benefits. "Preneed Funeral Contract" or "Prearrangement" means an arrangement by or for an individual before the individual's death relating to the purchase or provision of specific funeral or cemetery merchandise or services.