Section 34.03 - Exemptions(1) Unless otherwise specifically included, 211 CMR 34.01, 34.03 through 34.08 inclusive, shall not apply to transactions involving: (a) credit life insurance;(b) group life insurance or group annuities;(c) proposed life insurance that is to replace life insurance under a binding or conditional receipt issued by the same company;(d) internal replacements where the replacing insurer and the existing insurer are the same, or are subsidiaries or affiliates under common ownership or control; provided, however, that agents or brokers proposing replacement shall comply with the requirements of agents who initiate the application;(e) insurance paid for wholly or partly by the insured's employer or by an association of which the insured is a member, or insurance in a qualified pension, profit sharing or other benefit plan;(f) life insurance policies issued in connection with a pension, profit sharing or other benefit plan qualifying for tax deductibility of premiums.(2) Registered contracts shall be exempt from the provisions requiring policy summary information; provided however, that premium or contract contribution amounts and identification of the appropriate prospectus or offering circular shall be required in lieu thereof.