In response to complaints about misleading words used in advertising for insurance products, such as life insurance and annuities, Colorado has enacted legislation that bans certain words. The words deemed misleading and banned by Colorado include “investment”, “savings”, “retirement plan”, “safe”, and “secure”, among other commonly used words in insurance advertising. Similar lists of words no longer allowed for advertising insurance plans are used in roughly 13 states, and based on model regulations created by the National Association of Insurance Commissioners.
See Roccy DeFrancesco, Colorado Bans Use of Word “Safe” in Life and Annuity Advertising, Producers Web, Sept. 9, 2014.
Special thanks to Jim Hillhouse (Professional Legal Marketing (PLM, Inc.)) for bringing this article to my attention.
