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Flashcards in 9.1f Deck (6)
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1
Q

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 ______.

A

Life insurance policies with no illustrated death benefits on any individual exceeding $10,000

2
Q

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

______

A

Dividend option election or application of non-guaranteed elements, if applicable

3
Q

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 ______

A

life insurance policy

4
Q

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 ______.

A

capacity or tendency to mislead

5
Q

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 ______

A

payment or amount of non-guaranteed elements is guaranteed

6
Q

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 ______.

A

requirements of this regulation