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If an issuer discontinues all of its plans and products a market withdrawal and five-year lockout is triggered under 45 C. F.R. 147. 106 d unless the issuer 1 renews policyholders into new products on a guaranteed available basis 2 adheres to the notice requirements for discontinuation of a particular product and 3 acts uniformly without regard to health status or claims experience. F.R. 147. 106 c and the creation of a new product with OCI and the federal government The issuer offering the...
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Product and plan definition refers to the detailed description and features of a specific product or service, as well as the corresponding marketing and distribution strategy.
Companies or individuals who are launching a new product or service are required to file product and plan definition.
Product and plan definition can be filled out by providing information on the product/service description, target market, marketing strategy, distribution channels, pricing, and differentiation from competitors.
The purpose of product and plan definition is to provide a clear roadmap for the launch and promotion of a product or service, as well as to assess its potential success in the market.
Information such as product/service description, target market analysis, marketing and distribution strategy, pricing strategy, competitor analysis, and sales projections must be reported on product and plan definition.
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