9.1f Flashcards
The NAIC Life Insurance Solicitation Model Regulation applies to all group and individual life insurance policies and certificates except variable life insurance, individual and group annuity contracts, credit life insurance, and ______.
Life insurance policies with no illustrated death benefits on any individual exceeding $10,000
An illustration used in the sale of a life insurance policy shall satisfy the applicable requirements of this regulation, be clearly labeled “life insurance illustration,” and contain the following basic information:
Name of insurer
Name and business address of producer or insurer’s authorized representative, if any
Name, age and sex of proposed insured, except where a composite illustration is permitted under this chapter
Underwriting or rating classification upon which the illustration is based
Generic name of the policy, the company product name, if different, and form number
Initial death benefit
______
Dividend option election or application of non-guaranteed elements, if applicable
When using an illustration in the sale of a life insurance policy, an insurer or its producers or other authorized representatives shall not represent the policy as anything other than a ______
life insurance policy
When using an illustration in the sale of a life insurance policy, an insurer or its producers or other authorized representatives shall not use or describe non-guaranteed elements in a manner that is misleading or has the ______.
capacity or tendency to mislead
When using an illustration in the sale of a life insurance policy, an insurer or its producers or other authorized representatives shall not state or imply that the ______
payment or amount of non-guaranteed elements is guaranteed
When using an illustration in the sale of a life insurance policy, an insurer or its producers or other authorized representatives shall not use an illustration that does not comply with the ______.
requirements of this regulation
