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. (1) providing formats for life insurance policy illustrations;
2. (2) specifying the disclosures that are required for life insurance policy illustrations;
3. (3) prohibiting misleading life insurance policy illustrations;
4. (4) minimizing the use of footnotes and caveats in life insurance policy illustrations;
5. (5) requiring the use of language that is understandable to those to whom the illustration is directed; and
6. (6) prescribing standards for life insurance policy illustrations.

(Eff. 9/1/98, Register 147)

Authority: AS 21.06.090, AS 21.36.030, AS 21.42.120, AS 21.36.020, AS 21.36.900, AS 21.42.130