William Penn Life, 2002 (37. évfolyam, 1-11. szám)
2002-04-01 / 4. szám
Financial Privacy Your rights concerning who can see or share your personal information from the PA Insurance Department We Americans value our privacy and we place a high priority on protecting our personal information. Äs the financial services world becomes more sophisticated, understanding and acting upon our rights when it comes to the privacy of financial information is essential. The federal Gramm-Leach-Bliley Act of 1999 (GLB A) requires that financial companies-banks, security firms and insurance companies—have Secure your future with a wpa tax-deferred annuity. New 9-Year Surrender Charge 0*75% Annuity New 5-Year Surrender Charge Annuity 6.25% New No Surrender # A AO/ Charge Annuity OeUU/0 For more information about our annuity plans, contact your local WPA representative or our Home Office toll-free at 1-808-848 a privacy policy in place, notify all their customers of that policy and allow customers to "opt-out" of having their personal financial information shared. Insurance consumers should have received last year a little something extra tucked into mailings from their insurance companies. These notices should detail your insurance company's privacy policies and practices. You may find it as part of other correspondence, but it must be clearly marked and reasonably understandable. If you haven't received the notice, contact your insurance agent or company. If you still have questions, contact your state's insurance department. Responsibilities. Your company and agent have a responsibility to inform you when they disclose, or intend to disclose, "nonpublic" personally identifiable financial information about you. Examples of nonpublic personal financial information may include: • information provided on an application, such as income and assets; • your name, if it is included in a list of the company's customers; details regarding your insurance coverage, including the premium you pay, the amount of coverage, etc.; • your premium payment history; • credit information, such as your credit history, that the company obtains from a consumer report. Use and Conditions. Companies must also describe the conditions in which your personal financial information might be provided to another party as permitted by law. Companies are allowed to disclose your information without your consent or approval in the following situations: • when sharing personal financial information with affiliated companies (such as other financial institutions owned by the insurer); • when sharing protected financial information for certain business reasons, including underwriting, settling claims and investigating fraud; when disclosing your personal financial information to an insurance regulator, court or law enforcement official; when disclosing protected financial information for the purpose of joint marketing or servicing agreements. Opt-Out Procedures. In other situations, your company has to provide you directions on how to "opt-out" of certain disclosures. By "opting-out" you are directing your company not to disclose nonpublic personal financial information to any non-affiliated third parties, unless otherwise permitted by law. Your company is now required to send an annual notice and indicate any changes to their privacy policies and practices. They should also give you up to 30 days to request that your company not share personal financial data with other companies. If you haven't read or responded to the notices, you can still opt out at any time and direct your company not to disclose your personal financial information, lifün Money Uni« To learn more about your financial privacy rights, contact your insurance company or agent, on O National Association of Insurance Commissioners 1-816-842-3600 www.naic. orgl I privacy 4 IVilliaa feu Life, Aprít 2002
