Life Health

BENEFIT/PROVISION REQUIREMENT

REFERENCE

DESCRIPTION OF REVIEW
STANDARDS REQUIREMENT

IDENTIFY LOCATION OF STANDARD IN FILING OR EXPLAIN IF REQUIREMENT IS INAPPLICABLE

Electronic (SERFF) Submission Requirements

24-A M.R.S.A. §2412 (2)

Bulletin 360

All filings must be filed electronically, using the NAIC System for Electronic Rate and Form Filing (SERFF). See http://www.serff.com.

FILING FEES

24-A M.R.S.A. §601(17)

$20.00 for Rate filings, rating rules filings, insurance policy, forms, riders, endorsements and certificates. See General Instructions page in SERFF for additional information on filing fee structure.

Filing fees must be submitted by EFT in SERFF at the time of submission of the filing.

All filings require a filing fee unless specifically excluded per 24-A M.R.S.A. §4222(1), and/or are a required annual report.

GROUNDS FOR DISAPPROVAL
(FORM FILINGS ONLY)

24-A M.R.S.A. §2413

Seven categories of the grounds for disapproving a filing.

ADVERTISING  for
Long Term Care Policies

Rule 425, Sec. 21

Every insurer, health care service plan or other entity providing long-term care insurance in this state shall file with the superintendent for prior approval a copy of any long-term care insurance advertisement intended for use in this state, whether through written, radio, television, internet or other medium. If the advertisement has not been affirmatively approved or disapproved within 30 days after filing, it will be deemed approved.

ADVERTISING for
Medicare Supplement Policies

24-A M.R.S.A.  §5006-A

§5010-A

Rule 275 Sec. 19

Any advertisement to be used in connection with Medicare Supplement products must be filed and approved with the Bureau prior to use.. All advertising materials shall specifically disclose the availability of Medicare supplemental products to those persons eligible for Medicare because of disability.

READABILITY

24-A M.R.S.A. §2441

Minimum of 50.  Riders, endorsements, applications all must be scored. They may be scored either individually or in conjunction with the policy/certificate to which they will be attached. Exceptions: Federally mandated forms/language, Groups > 1000, Group Annuities as funding vehicles.

REPRESENTATIONS IN APPLICATIONS

24-A M.R.S.A. §2411

All statements and descriptions in any application for insurance or for an annuity contract, by or in behalf of the insured or annuitant, are deemed to be representations and not warranties.

VARIABILITY OF LANGUAGE

24-A M.R.S.A.
§2412

 §2413

Forms with variable bracketed information must include all the possible language that might be placed within the brackets. The use of too many variables will result in filing disapproval as Bureau staff may not be able to determine whether the filing is compliant with Maine laws and regulations.