ContractSitusCanDifferInd

Description
Contract Situs Can Differ Indicator

Type : OLI_LU_BOOLEAN
DescriptionNameValue
FalseOLI_BOOL_FALSE0
TrueOLI_BOOL_TRUE1

Definition
Solicitation state based property which indicates if a policy may be issued in a state other than the owner's residence state. Some states restrict issuance of contracts when the issue state and owner residence state differ.For group products, the situs is applied to the insured rather than the owner. For group plans, the owner is typically the plan sponsor.If set to FALSE then a MA contract can only be sold to a MA resident. If set to TRUE then a MA contract can be sold to a resident of any state. Use RestrictOwnerJurisdiction to specify Residence state restrictions.

Parents
JurisdictionApproval