Transcription of UNIVERSAL LIFE INSURANCE MODEL REGULATION Table ... - …
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UNIVERSAL LIFE INSURANCE MODEL REGULATION Table ... - …
MODEL REGULATION Service January 2001 2001 National Association of INSURANCE Commissioners 585-1 UNIVERSAL life INSURANCE MODEL REGULATION Table of Contents Section 1. Authority Section 2. Purpose Section 3. Definitions Section 4. Scope Section 5. Valuation Section 6. Nonforfeiture Section 7. Mandatory Policy Provisions Section 8. Disclosure Requirements Section 9. Periodic Disclosure to Policyowner Section 10. Interest-Indexed UNIVERSAL life INSURANCE Policies Section 1. Authority This REGULATION is promulgated under the authority of Section [insert applicable section], of the INSURANCE Laws of [insert state], and is effective [insert date]. Section 2. Purpose The purpose of this REGULATION is to supplement existing regulations on life INSURANCE policies in order to accommodate the development and issuance of UNIVERSAL life INSURANCE plans.
Universal Life Insurance Model Regulation
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