(a) This part applies to all policies delivered or issued for delivery in this state by any company on or after the date the forms are subject to this part, but nothing in this part applies to:

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Terms Used In Tennessee Code 56-7-1604

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Contract: A legal written agreement that becomes binding when signed.
  • insurer: means any life or health insurance company, fraternal benefit society, nonprofit health service corporation, nonprofit hospital service corporation, nonprofit medical service corporation, prepaid health plan, dental care plan, vision care plan, pharmaceutical plan, health maintenance organization, and all similar type organizations. See Tennessee Code 56-7-1603
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • Statute: A law passed by a legislature.
(1) Any policy that is a security subject to federal jurisdiction;
(2) Any group policy covering a group of one thousand (1,000) or more lives at date of issue, other than a group credit life insurance policy or a group credit health insurance policy; provided, that this subsection (a) shall not exempt any certificate issued pursuant to a group policy delivered or issued for delivery in this state;
(3) Any group annuity contract that serves as a funding vehicle for pension, profit-sharing, or deferred compensation plans;
(4) Any form used in connection with, as a conversion from, as an addition to, or in exchange pursuant to a contractual provision for, a policy delivered or issued for delivery on a form approved or permitted to be issued prior to the dates the forms must be approved under this part; or
(5) The renewal of a policy delivered or issued for delivery prior to the dates the forms must be approved under this part.
(b) No other statute of this state setting language simplification standards shall apply to any policy forms.
(c) Any non-English language policy delivered or issued for delivery in this state shall be deemed to be in compliance with § 56-7-1605(a)(1) if the insurer certifies that the policy is translated from an English language policy that does comply with § 56-7-1605(a)(1).
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