Appropriateness of Recommended Purchase and Excessive Insurance
Effective Sep 9, 2005Authorizing statute(s): 33-1-313 and 33-22-904, MCA; Implementing statute(s): 33-15-303, 33-22-901, 33-22-902, 33-22-903, 33-22-904, 33-22-905, 33-22-906, 33-22-907, 33-22-908, 33-22-909, 33-22-910, 33-22-911, 33-22-921, 33-22-922, 33-22-923, and 33-22-924, MCAState of Montana
- (1) In recommending the purchase or replacement of any medicare supplement policy or certificate, an insurance producer shall make reasonable efforts to determine the appropriateness of a recommended purchase or replacement.
- (2) Any sale of medicare supplement policy or certificate that will provide an individual more than one medicare supplement policy or certificate is prohibited.
- (3) An issuer may not issue a medicare supplement policy or certificate to an individual enrolled in medicare part C unless the effective date of the coverage is after the termination date of the individual's part C coverage.
Authorizing statute(s): 33-1-313 and 33-22-904, MCA
Implementing statute(s): 33-15-303, 33-22-901, 33-22-902, 33-22-903, 33-22-904, 33-22-905, 33-22-906, 33-22-907, 33-22-908, 33-22-909, 33-22-910, 33-22-911, 33-22-921, 33-22-922, 33-22-923, and 33-22-924, MCA
History: NEW, 1990 MAR p. 1688, Eff. 9/1/90; AMD, 1993 MAR p. 1487, Eff. 7/16/93; AMD, 2005 MAR p. 1672, Eff. 9/9/05.