™Your Policy Risk Impact Agent
63 chapters · 1,607 sections in this title.
S.C. Code Ann. § 38-65-310 Life, term, and endowment insurance on franchise or wholesale plan
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Nothing contained in this chapter is considered to prohibit a life insurer from issuing life, term, and endowment insurance on the franchise plan, with or without annuities. The insurance under a franchise agreement or upon a wholesale basis may be written under rates less than t…
S.C. Code Ann. § 38-65-320 Termination of or refusal to renew policy issued on franchise or wholesale plan
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The right of the insurer to terminate or refuse to renew a life, term, or endowment insurance policy issued on the franchise or wholesale plan is limited to: (1) nonpayment of premium; (2) the insured has attained the age limit prescribed in the policy; (3) the employee's employm…
S.C. Code Ann. § 38-65-330 Conversion privilege of policy issued on franchise or wholesale plan
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A life, term, or endowment insurance policy on the franchise or wholesale plan which is subject to termination under the provisions of SECTION 38-65-320 shall contain a conversion privilege not less favorable to the insured than that provided under item (8) of SECTION 38-65-210.
S.C. Code Ann. § 38-65-340 Disclosure of conditional nature of coverage under policy issued under franchise or wholesale plan subject to termination
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No insurer nor its agent or representative may misrepresent or fail to disclose the conditional nature of the coverage with respect to any policy subject to termination under the provisions of SECTION 38-65-320. Every advertisement, announcement, or sales presentation with respec…
