Advertising Filing and Records

Filing and Record Keeping Requirements for Life Insurance and Annuity Advertisements

What this covers:

  • Record keeping and insurance department filing requirements for life insurance and annuity advertisements.
  • Similarities to and significant differences with the record keeping and insurance department filing provisions of the NAIC’s “Advertisements of Life Insurance and Annuities Model Regulation.” 

What this does not cover:

Long-term care insurance and disability income insurance advertising filing and record keeping requirements. However, these are located in ACLI’s Long-Term Care Insurance and Disability Income Insurance Compliance Service. Record keeping requirements for life and annuity buyer’s guides, policy summaries, and contract summaries are not covered in this survey but are summarized in Law Survey #30, “Use of Disclosure Documents in the Solicitation of Life Insurance and Annuities.”

NAIC Advertisements of Life Insurance and Annuities Model Regulation relevant provisions

  1. What Advertising Records to Keep “Each insurer shall maintain at its home or principal office a complete file containing a specimen copy of every printed, published or prepared advertisement of its individual policies and specimen copies of typical printed, published or prepared advertisements of its blanket, franchise and group policies, hereafter disseminated in this state, with a notation indicating the manner and extent of distribution and the form number of any policy advertised. The file shall be subject to inspection by the department.”
  2. Length of Time to Keep Records “All advertisements shall be maintained in the file for a period of five (5) years after discontinuance of its use or publication.”
  3. Filing Certificate of Compliance “Each insurer subject to the provisions of this regulation shall file with the commissioner with its annual statement a certificate of compliance executed by an authorized officer of the insurer stating that to the best of his or her knowledge, information and belief the advertisements that were disseminated by or on behalf of the insurer in this state during the preceding statement year, or during the portion of the year when these rules were in effect, complied or were made to comply in all respects with the provisions of these rules and the insurance laws of this state as implemented and interpreted by this regulation.”

Revised: November, 2018
Note that ACLI Law Surveys are revised annually

* Indicates change from previous year

Vytas Aukstuolis

StateCitationLife and Annuity Advertising Record Keeping/Filing Requirements
Alabama
AL Admin. Code 482-1-132-.10 (E), (H), (I), and (J)What to keep: NAIC model.

Length of time: NAIC model.

Certificate of compliance filing: NAIC model
Alaska
NANA
Arizona
AZ Rev. Stat. Ann. §20-1110

AZ Admin. Code R20-6-201.01

AZ Circular Letter No. 2000-14
Advertisement filing: Life or disability insurer must file advertising matter or sales material with the director but prior approval is not required.

What to keep: Each printed, published, recorded, or prepared advertisement of individual policies; and typical printed, published, recorded, or prepared advertisements of blanket, franchise, and group policies. A notation attached to each advertisement specifying the manner and extent of distribution and the form number of any policy advertised; and documentation supporting any testimonials, statistical claims, or comparisons shown in the advertising.

Length of time: Three years from the date of first dissemination.

Advertisement filing: Following advertisements are exempt from the requirement for filing and approval requirements of AZ Rev. Stat. Ann. §20-1110: individual and group life, individual and group annuity, disability income, indemnity dental, accident only.
Arkansas
AR ADC 054.00.99-10What to keep: NAIC model.

Length of time: NAIC model.

Certificate of compliance filing: NAIC model.
California
10 CCR §2547.9

10 CCR §2522.7

10 CCR §2534.2(d)
What to keep: NAIC model.

Length of time: Four years or until next regular report on examination of insurer, whichever is longer.
Certificate of compliance filing: NAIC model.

Investment annuities

Record keeping: Four years or until next regular report on examination of insurer, whichever is longer.

Advertisement filing: 30 days prior to use (including revisions), with Commissioner.

Variable life insurance:

Advertisement filing: Bulletin constitutes a complete set of guidelines for all forms of variable life insurance superseding the existing regulation which requires all sales material, advertising material, and descriptive literature (including revised versions of material) to be filed 30 business days prior to use.
Colorado
3 CCR 702-4:4-1-2Section 10What to keep: NAIC model.

Length of time: NAIC model.
Connecticut
CT ADC INS 38a-819-29

CT ADC 38a-433-3
What to keep: NAIC model.

Length of time: Four years or until next regular report on examination of insurer, whichever is longer.

Certificate of compliance filing: NAIC model.


Variable life insurance

Advertisement filing: All sales material, advertising material, and descriptive literature (including revised versions of material) shall be filed 30 business days prior to use.
Delaware
NANote: State of Delaware Insurance Department Filing Instruction Document for Life & Health specifies that equity indexed product filings should provide "marketing and cost disclosure brochures;" and guaranteed living benefits filings should provide a "copy of marketing and sales materials."
District of Columbia
NANA
Florida
69 FL Admin. Code Ann. 69O-150.119What to keep: NAIC model without “specimen” language. In addition, insurers must keep advertisements submitted by and approved for use by agents, brokers, or others. The file shall be available for inspection by the Office.

Length of time: Four years or until filing of next regular report or examination, whichever is longer.
Georgia
GA Comp. R. & Regs. 120-2-11-.11

GA Comp. R. & Regs. 120-2-71-.15 (6)
What to keep: NAIC model.

Length of time: Four years or until next regular report on examination of insurer, whichever is longer.

Certificate of compliance filing: NAIC model.


Advertisements of annuities are the responsibility of the insurer and are subject to Insurance Department review. If an advertisement describes annuity products and other types of financial services or investments, the entire advertisement must be submitted to the Insurance Department in the form in which it will be communicated to consumers. Applies to fixed and variable annuities sold by lending institutions, bank holding companies, and their subsidiaries and affiliates.
Hawaii
NANA
Idaho
ID Code §41-905Advertisement filing: All insurers shall have prior approval of director before approving advertising for use by an administrator. Certification that advertising complies with Idaho law must accompany filing.
Illinois
IL Admin. Code tit. 50 §909.90What to keep: A complete file containing a specimen copy of every printed, published or prepared advertisement disseminated in this State, with a notation indicating the manner and extent of distribution and the form number of any policy advertised. The file shall be subject to inspection by this Division.

Length of time: Four years or until next regular report on examination of insurer, whichever is longer.

Certificate of compliance filing: A certificate of compliance will be placed on file with the company.
Indiana
NANA
Iowa
IA Admin. Code 191-15.13(2)What to keep: A complete file containing a specimen copy of every printed, published or prepared advertisement of its policies, with a notation indicating the manner and extent of distribution and the form number of any policy advertised. The file shall be subject to inspection by the insurance division.
Length of time: Four years or until next regular report on examination of insurer, whichever is longer.
Kansas
KS Admin. Regs. 40-9-118

KS Bulletin 14-01
What to keep: NAIC model (adopted by reference), includes social media.

Length of time: NAIC model (adopted by reference).

Certificate of compliance filing: NAIC model (adopted by reference with exceptions).
Insurers are responsible for advertisements produced and distributed by third-party marketing entities.
Kentucky
806 KY Admin. Regs. 12:010Sections 18 and 19What to keep: A complete file containing every printed, published, or prepared advertisement of individual policies and typical printed published or prepared advertisements of blanket, franchise and group policies hereafter disseminated in this or any other state whether or not licensed in such other state, with a notation attached to each such advertisement which shall indicate the manner and extent of distribution and the form number of any policy advertised. Such file shall be subject to regular and periodical inspection by this office.

Length of time: Three years.

Certificate of compliance filing: NAIC model. Additionally, CEO of each insurer to which the advertisement regulations are addressed is requested to acknowledge its receipt and indicate its intention to comply therewith. The use of advertising material previously filed with and approved by the department shall not subject the filer to any disciplinary action or penalty by this department, as long as such prior approval remains in effect.
Louisiana
37 LA ADC Pt XIII, §4117

37 LA ADC Pt XIII, §7917
What to keep: NAIC model.

Length of time: Four years or until the filing of the next regular report on the examination of the insurer, whichever is the longer period of time.


Correlated sales of life insurance and equity products

What to keep: A complete file containing every printed, published or prepared advertisement, advertisement material, sales literature and sales aid of any other kind used in connection with the correlated sale of life insurance and equity products as may hereafter be prepared or disseminated in this state, with a notation attached to each such piece of material which shall indicate the manner and extent of distribution, the nature of use and the form number of any policy issued in connection with such correlated plan and such document. Such file shall be subject to regular and periodic inspection by the department of insurance of the State of Louisiana.

Length of time: Three years.
Certificate of compliance filing: NAIC model.
Maine
NANA
Maryland
NANA
Massachusetts
MA Gen. Laws Ann. Ch. 175 §190C

MA Bulletin B-98-17
Mass marketed life or health insurance

Any insurer extending mass-marketed life or health insurance under group or blanket policy issued outside commonwealth to residents of commonwealth shall, upon request of Commissioner, make available for purpose of determining compliance with laws, copies of any such policy or certificates or both issued thereunder, and any advertising material used within commonwealth in connection with such insurance.
Individual equity indexed products

Advertisement filing: Must include all advertising materials, including any illustrations used in marketing the contract form.
Michigan
MI Admin. Code 500.1385

MI Admin. Code 500.631

MI Ins Order 02-006-M(1)
What to keep: A specimen copy of every printed, published, or prepared advertisement of its policies, with notation indicating manner and extent of distribution and form number of any policy advertised. The file shall be subject to inspection by the commissioner.

Length of time: Four years or until next regular report on examination of insurer, whichever is longer.
Certificate of compliance filing: NAIC model.

Variable contracts

Advertisement filing: Except as exempted in writing by commissioner, at least 30 days prior to use, file with commissioner copies of advertising, illustrations, and other printed materials to be used in connection with sale of individual contracts on variable basis.

Exempts insurers from filing copies of advertising, illustrations, and other printed materials for variable contracts but requires materials to be retained in insurers’ records for one year after use.
Minnesota
MN R. 2790.2000What to keep: A complete file containing every printed, published, or prepared advertisement of individual policies and typical printed, published, or prepared advertisements of blanket, franchise, and group policies disseminated in any state, whether or not licensed in other states, with notation attached to each advertisement indicating manner and extent of distribution and form number of any policy, amendment, rider, or endorsement form advertised. Company must be able to identify and provide copy of policy advertised together with any amendment, rider, or endorsement applicable. The file is subject to regular and periodic inspection by the Department of Commerce.

Length of time: Three years.

Certificate of compliance filing: NAIC model.
Mississippi
MS Bulletin 3-7-80Non-Conventional Life Insurance Policies

Applies to life insurance policies which have maximum premium rates, but provide for the actual premium rates to be established by the insurer. All advertising and solicitation materials applicable to such contracts or policies must be filed with the Department for review before use. All submissions of this type policy shall be accompanied by a statement that the guidelines of this bulletin have been reviewed and that the submission is in compliance with these guidelines.
Missouri
20 MO Code Regs. 400-5.100Guidelines Two and SevenWhat to keep: NAIC model.

Length of time: NAIC model.

Certificate of compliance filing: NAIC model.
Montana
NANA
Nebraska
210 NE ADC Ch. 50 §010What to keep: NAIC model.

Length of time: NAIC model.
Nevada
NV Bulletin 29Universal Life Insurance Policies

Any brochures and sales material designed specifically for the product should be submitted with the policy form.
New Hampshire
NH Code Admin. R. Ins 2602.09

NH Rev. Stat. Ann. §400-B:3
What to keep: NAIC model.

Length of Time: NAIC model.

Certificate of compliance filing: NAIC model.
New Jersey
NJ Admin. Code 11:2-23.8What to keep: Every printed, published, or prepared advertisement of blanket, franchise, and group policies disseminated in this state, with notation attached to each advertisement indicating manner and extent of distribution and form number of any policy advertised. Such file shall be subject to regular and periodic inspection by the Department.

Length of time: NAIC model.

Certificate of compliance filing: NAIC model.
New Mexico
NM Admin. Code 13.9.2.13Concurrent sale of life insurance policies, endowments or annuity contracts and mutual fund shares or other securities

What to keep: A complete file containing every printed, published, or prepared advertisement, advertising material, sales literature and sales aid of any other kind used in connection with the concurrent sale of life insurance policies, endowments or annuity contracts and mutual fund shares or other securities as may hereafter be prepared or disseminated in this state, with a notation attached to each such piece of material that shall indicate the manner and extent of distribution, the nature of use and the form number of any policy or contract issued in connection with the offering. Such file shall be subject to regular and periodical inspection by the Superintendent of Insurance or his authorized representatives.

Length of time: Three years.

Certificate of compliance filing: NAIC model.
New York
11 NYCRR 219.5What to keep: A complete file containing a specimen copy of every printed, published, or prepared advertisement disseminated in this State, with notation attached to each advertisement indicating manner and extent of distribution and form number of any policy advertised. File must contain all advertisements whether used by company, agents or solicitors, or other persons. The portion of the file that has been covered by a filed report on examination may be eliminated.

Certificate of compliance filing: NAIC model.
North Carolina
11 NCAC 12.0431

11 NCAC 12.0433
What to keep: A complete file containing a specimen copy of every printed, published, or prepared advertisement of its policies disseminated in this state, with notation indicating manner and extent of distribution and form number of any policy advertised. Such file shall be subject to inspection by this department.

Length of time: Three years or until the filing of next regular report on examination, whichever is longer.
Certificate of compliance filing: NAIC model. In addition, every written advertisement created or developed by insurance agent that describes policy in any manner shall be filed with and approved by home office of insurance company offering policy before advertisement may be used by agent.

Advertisement filing: Commissioner may require filing of all or part of advertising material of insurance with department for review prior to use. All advertising material subject to review prior to use shall be filed 30 days prior to intended use. In cases where charges are pending against insurer, commissioner may, during period charges are pending, but not more than 30 days unless extended by consent order, require all or part of advertising material to be filed for review prior to use. Commissioner may refuse to approve all or part of advertising material so filed. All advertising material subject to prior approval shall be filed with department 60 days prior to intended use. When determined by commissioner that insurer has violated insurance law, all or part of advertising material may be required to be filed with department for review prior to use or for prior approval. Commissioner may refuse to approve all or part of advertising material so filed.
North Dakota
ND Admin. Code §45-04-10-07

ND Bulletin 2002-1
What to keep: NAIC model.

Length of time: Four years or until the filing of the next regular report on the examination of the insurer, whichever is the longer period of time.

All advertising and marketing materials intended for use in conjunction with the sale of any equity indexed annuity must be submitted for review with the filing.
Ohio
OH Admin. Code §3901-6-02(I)Correlated sales of life insurance and mutual funds or other securities

What to keep: A complete file containing every printed, published, or prepared advertisement, advertising material, sales literature and sales aid of any other kind used in connection with the correlated sale of life insurance and mutual fund shares or other securities as may hereafter be prepared or disseminated in this state, with a notation attached to each such piece of material which shall indicate the manner and extent of distribution, the nature of use and the form number of any policy issued in connection with such correlated plan and such document. Such file shall be subject to regular and periodical inspection by this department.

Length of time: Three years.
Oklahoma
OK Admin. Code §365:10-3-37

36 OK Stat. Ann. §1216(2)(g)

OK Admin. Code §365:10-9-14(b)
What to keep: NAIC model.

Length of time: Four years or until the filing of the next regular report on the examination of the insurer, whichever is the longer period of time.

Certificate of compliance filing: NAIC model.

Advertisement filing: Life insurance policy form or annuity contract containing guaranteed annual endowment benefits filed with department for approval shall be accompanied by all sales, advertising, or other material that insurer proposes to use in connection with sale of such policy and it shall be approved by State Insurance Commissioner.

Sales material to be used in conjunction with a variable annuity contract shall be filed with the Insurance Commissioner in duplicate. After 60 days the form is deemed approved if the Insurance Commissioner did not approve or disapprove the form.
Oregon
OR Rev. Stat. §742.009

OR Bulletin 2009-7
Advertisement filing: Director may require a filing of any producer materials for any life insurance or annuities sales presentation material for use in the sale, or the presentation for sale, of any life insurance or annuity product.

See http://www.cbs.state.or.us/ins/docs/serff/advertisements.html for filing instructions.
Pennsylvania
31 PA Code §51.4

31 PA Code §51.5
What to keep: A complete file containing every printed, published or prepared advertisement of its individual contracts and typical printed, published or prepared advertisements of its blanket, franchise and group contracts hereafter disseminated in this or another state whether or not licensed in the other state. An advertisement included in this advertising file shall be annotated as to the manner and extent of distribution and the form number of the contract advertised. The advertising file kept in accordance with this section shall be subject to inspection by the Department.

Length of time: Four years or until filing of next regular report on examination of insurer, whichever is longer.

Certificate of compliance filing: NAIC model.
Puerto Rico
PR ST T. 26 §2807Advertisement filing: With application for solicitation permit, the applicant shall file with the commissioner a copy of any prospectus, advertising, or literature proposed to be used, if not already on file.
*Rhode Island
RI ADC 20-25-5.10What to keep: NAIC model.

Length of time: NAIC model.

Certificate of compliance filing: NAIC model.
South Carolina
SC Code of Regulations R. 69-20(7)Campus life insurance

What to keep: Every insurer, agent, broker, or other person representing an insurer transacting a campus life insurance business shall maintain and keep records all sales and advertising material, copies of applications, promissory notes, instruments, agreements or other documents, disclosure statements and like relevant material in respect to each transaction and all such records shall be open to the Commissioner or his representative at all reasonable times. Such records need not be duplicatively and separately maintained by an insurer and its representative but it is the responsibility of the insurer to inform the commissioner where such records are being maintained.

Length of time: Three years
South Dakota
SD Codified Laws §58-33A-11

SD Codified Laws §58-33A-11
What to keep: A complete file containing a specimen copy of every printed, published, or prepared advertisement of its policies and specimen copies of typical printed, published, or prepared advertisements of its blanket, franchise, and group policies where the content of advertisements vary dependent upon coverage options, hereafter disseminated in this state, with a notation indicating the manner and extent of distribution and the form number of any policy advertised. The file may be kept electronically. The division may inspect the file.

Length of time: Five years or until the filing of the next regular report on the examination of the insurer, whichever is the longer period of time.

What to keep: Each insurer must maintain at its home office or principal office a complete file containing one copy of each form authorized by the insurer for use.

Length of time: Five years following the date of its last authorized use.
Tennessee
TN Comp. R. & Regs. 0780-1-33-.10What to keep: NAIC model.

Length of time: Four years or until next regular report on examination of insurer, whichever is longer.

Certificate of compliance filing: NAIC model.
Texas
28 TX Admin. Code §21.116

28 TX Admin. Code §21.120(a), (b), and (d)
What to keep: A complete file containing a specimen of every institutional advertisement, invitation to inquire advertisement, or invitation to contract advertisement disseminated in this state, with a notation attached to each such advertisement indicating the manner and extent of distribution and the form number of any policy advertised in Texas. Foreign insurers that have established an office in Texas who transact an insurance business in this state may maintain the advertising file at that location. Each insurer shall notify the Texas Department of Insurance where the advertising file is being maintained and that access thereto will be provided, and each insurer shall also notify the Texas Department of Insurance in the event the location of such file is planned to be changed and immediately when changed. The advertising file is subject to regular and periodic inspection by the Texas Department of Insurance.

Length of time: Three years.

Certificate of compliance filing: NAIC model.

Advertisement filing: Any advertisement required to be submitted or submitted voluntarily by insurer licensed to do business in Texas shall be accompanied by transmittal letter to the Advertising Unit, Texas Department of Insurance, containing information provided in §21.120 (a). All advertisements shall be submitted in duplicate.
An advertisement subject to requirements under 28 TX Admin Code that is the same as or substantially similar to an advertisement previously reviewed and accepted by the department, is not required to be filed for review. A person or entity wishing to introduce a “substantially similar” advertisement must file a signed written statement with the Advertising Unit, Texas Department of Insurance.
Utah


UT Admin. Code R590-130-14What to keep: A complete file containing every printed, published, or prepared advertisement of individual policies and typical printed, published, or prepared advertisements of blanket, franchise, and group policies disseminated in any state, whether or not licensed in other states, with notation attached to each advertisement indicating manner and extent of distribution and form number of any policy advertised. Such file shall be subject to regular and periodic inspection by this Department.

Length of time: Three years from last use.
Vermont
VT Admin. Code 4-3-4:6What to keep: Each insurer shall maintain at its home office or principal office, a complete file containing one copy of each document authorized by the insurer for use.

Length of time: Three years from last authorized use.
Virginia
14 VA Admin. Code 5-41-150What to keep: NAIC model.

Length of time: NAIC model.
Washington
WA Admin. Code §284-23-090What to keep: NAIC model.

Length of time: Four years or until the filing of the next regular report on examination of the insurer, whichever is the longer period of time.
West Virginia
WV CSR 114-11-9

WV Informational Letter 43
What to keep: NAIC model.

Length of time: NAIC model.

Certificate of compliance filing: NAIC Model.

Mass-marketed life and health insurance

Advertisement filing: Advertising filings for mass-marketed life and health insurance must be accompanied by filing abstracts.
Wisconsin
WI ADC Ins 2.16 What to keep: A complete file containing every printed, published or prepared advertisement of its policies hereafter disseminated in the state. With respect to group, blanket and franchise policies, all proposals prepared on the same printed form need not be included in the file; only typical examples of these proposals shall be included. A notation shall be attached to each such advertisement in the file indicating the manner and extent of distribution and the form number of any policy, amendment, rider, or endorsement form advertised. The file shall be subject to regular and periodic inspection by the office of the commissioner of insurance.

Length of time: While in use and for a period of three years after an advertisement's authorized use.
Wyoming
WY ADC INS GEN Ch 67, §3Variable life insurance

Advertisement filing: An insurer shall file with the commissioner all sales material, advertising material, or descriptive literature or other materials of any kind in connection with its variable life insurance business as required by W.S. § 26-15-110 (b), and shall not use any of these materials which are false, misleading, deceptive or inaccurate.

ACLI Law Surveys contain live links to the Westlaw data base where you’ll be able to view the text of the laws, regulations, and bulletins cited in the surveys. This feature, free to ACLI members, enables you to explore the topic further and to keep current with any changes until the survey’s summaries are updated next year. Just click on a citation link and a window will open with text from the Westlaw data base. Note that you will be asked to sign off on a user agreement the first time you access the Westlaw data base.

ACLI hopes this survey is helpful as a quick reference for your questions on filing requirements and record keeping for life insurance and annuity advertisements. This survey does not constitute a legal opinion or conclusion by ACLI, its staff, or its member companies and should not be used as the sole basis for making individual company decisions or conclusions. The Law Surveys are reviewed and updated annually. Users are encouraged to refer to the text of the statutes and regulations cited for the most current and complete information, which is available in ACLI’s Market Conduct Compliance Service.

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