The following words and terms, when used in this subchapter,
have the following meanings, unless the context clearly indicates
otherwise.
(1) Alternate face page--A face page of a group policy,
certificate, or contract, which may be used in place of the face page
of a previously approved or exempted group policy, certificate, or
contract when the group policy, certificate, or contract will be issued
to a different or specific group (e.g., a policy that was filed as
an "ABC Multiple Employer Trust (MET)" that is later issued to a specific
MET).
(2) Department--The Texas Department of Insurance.
(3) Filing--A submission, made to the department by
a company, that is accompanied by either a transmittal checklist or
a transmittal form, and which may include policies, certificates,
contracts, applications, certifications, informational materials,
insert pages, riders, limited partial refilings, matrix filings, and
rates.
(4) General use--A filing that will be used with other
forms submitted in the filing or with previously approved and exempted
forms for a certain product or products or a subset of a product or
type (e.g., an application that will be used with all life products;
an application that will be used with all universal life products;
an application that will be used with group life and accident and
health products; an application that will be used with major medical
and hospital surgical products).
(5) Insert page--A page used to replace an existing
page of a previously approved or exempted contract.
(6) Limited, partial refilings--A change to a previously
approved or exempted life or annuity form that meets one or more of
the criteria set forth in subparagraphs (A) - (D) of this paragraph
as follows:
(A) a change in the text, interest rate, guaranteed
charges, or mortality table used to compute nonforfeiture values for
life insurance or annuities;
(B) a change in the current interest rate, where such
rates are guaranteed and shown in the policy or contract;
(C) a change in the reserves (if the change in reserves
impacts the text of the policy);
(D) a change to the separate account for variable products
when the separate account is bracketed as variable text on the initial
filing.
(7) Matrix filing--A filing consisting of individual
provisions, each with its own unique identifiable form number, allowing
the flexibility to create multiple policies, certificates, contracts
or applications by using numerous combinations of the individual provisions
approved or exempted.
(8) New filing--A filing that has not been previously
reviewed, approved, or disapproved by the department, or a filing
that has been previously withdrawn and is being resubmitted as a new
filing (not to include the withdrawal of a filing containing corrections
to a form subsequent to the company receiving a disapproval from the
department);
(9) Purpose and use--For each submitted form, the purpose
and use will be a brief description to include at least the following:
(A) how a form will be used (e.g., the application
will be used on a general use basis; or used with specific policy(ies)
or contract form(s) previously approved or exempted);
(B) the type of coverage provided by the form (e.g.,
whole life, term life, universal life, variable annuity, major medical,
specified disease, accident only, or hospital indemnity);
(C) any key or unique provisions contained in the form
(e.g., for life and annuities--bonus interest, additional interest
credits, two-tier values, bail-out, market value adjustments, and
long term care; for accident and health--preferred provider benefits,
prescription drugs, and innovative benefit in a Medicare supplement
policy);
(D) if applicable, how the form will be marketed (e.g.,
direct, agent, or electronic);
(E) if applicable, to whom the form is to be marketed
(e.g., specific groups such as an annuity contract marketed to issue
ages 25 - 60, or a health benefit plan issued to children only, including
Insurance Code Chapter 1502).
(10) Rider--An amendment or endorsement that changes
a policy, certificate, or contract to add, expand, limit, or remove
provisions and/or benefits, which may be optional or mandatory, and
when used, becomes a part of the policy, certificate, or contract.
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