9.1e

Question 1

A ______ is defined as an illustration furnished in addition to a basic illustration that may be presented in a format differing from the basic illustration, but may only depict a scale of non-guaranteed elements that is permitted in a basic illustration.

Answer 1

Supplemental Illustration

Question 2

An In force illustration is defined as an illustration furnished at any time after the policy that it depicts ______.

Answer 2

has been in force for one year or more

Question 3

Known as the ______, the NAIC has developed rules for insurers and agents to follow when presenting consumers with life insurance policy illustrations to both protect consumers from misrepresentation and misinformation, and to promote a more educational process for consumers when purchasing life insurance.

Answer 3

NAIC Life Insurance Solicitation Model Regulation

Question 4

As stated by the NAIC, its model regulation provides illustration formats, prescribes standards to be followed when illustrations are used and specifies the disclosures that are required in connection with illustrations. The goals of this regulation are to ______.

Answer 4

ensure that illustrations do not mislead purchasers of life insurance and to make illustrations more understandable

Question 5

Insurers will, as far as possible, eliminate the use of ______ and define terms used in the illustration in language that would be understood by a typical person within the segment of the public to which the illustration is directed.

Answer 5

footnotes and caveats