Solicitation
Attempting to sell insurance or advising the purchase of insurance, including advertising and other efforts to encourage policy purchase.
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Practice This Concept
In the typical life insurance transaction, when is the offer to contract generally considered made?
When the applicant submits the completed application, usually with the initial premium — The applicant makes the offer by submitting the application and initial premium; the insurer accepts by approving and issuing the policy, or rejects by declining. This means the insurer is not bound until it acts, and the applicant can generally withdraw the application before the insurer accepts. Understanding the offer-acceptance point matters for conditional receipts and for determining when coverage attaches. The agent's solicitation is not an offer — it is an invitation for the applicant to make one.
National insurance concept
A California life agent places an advertisement for insurance products on a website. Under Insurance Code Section 1726, the advertisement must include:
The agent's license number — Section 1726 requires licensees to include their license number in insurance advertising, including advertisements transmitted over the Internet. Publishing the license number lets consumers verify the advertiser's authority with the Department and deters unlicensed solicitation online.
CA-specific example
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