3 AAC 28.800. Purpose of 3 AAC 28.800

3 AAC 28.800. Purpose of 3 AAC 28.800 - 3 AAC 28.849

The purpose of 3 AAC 28.800 - 3 AAC 28.849 is to protect the public from false, misleading, or deceptive illustrations of life insurance policies by

(1) providing formats for life insurance policy illustrations;

(2) specifying the disclosures that are required for life insurance policy illustrations;

(3) prohibiting misleading life insurance policy illustrations;

(4) minimizing the use of footnotes and caveats in life insurance policy illustrations;

(5) requiring the use of language that is understandable to those to whom the illustration is directed; and

(6) prescribing standards for life insurance policy illustrations.

History: Eff. 9/1/98, Register 147

Authority: AS 21.06.090

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