Massachusetts’ Division of Insurance will hold hearings next month on proposed new rules designed to stop dishonest practices in selling insurance products to military personnel in the state.
The proposed new Regulation 211 will be discussed at the hearing, to be held at 10 a.m. May 11 at the DOI’s offices in Boston.
The planned rule would ban a number of sales practices identified as “false, misleading, deceptive or unfair,” including:
– Knowingly soliciting the purchase of any life insurance product to military personnel without first securing a specific appointment.
–Soliciting sales from service members in a group meeting where attendance is not voluntary.