North Dakota Administrative Code
Title 45 - Insurance, Commissioner of
Article 45-04 - Life Insurance
Chapter 45-04-01.1 - Life Insurance Illustrations Model Regulation
Section 45-04-01.1-01 - Applicability and scope

Universal Citation: ND Admin Code ยง 45-04-01.1-01

Current through Supplement No. 394, October, 2024

This chapter is intended to ensure that illustrations do not mislead purchasers of life insurance and to make illustrations more understandable. As far as possible, insurers will eliminate the use of footnotes and caveats 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. This chapter applies to all group and individual life insurance policies and certificates except:

1. Variable life insurance;

2. Individual and group annuity contracts;

3. Credit life insurance; or

4. Life insurance policies with no illustrated death benefits on any individual exceeding ten thousand dollars.

General Authority: NDCC 28-32-02

Law Implemented: NDCC 26.1-33-02

Disclaimer: These regulations may not be the most recent version. North Dakota may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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