Summaries of Plans

• The company shall prepare a Summary of each Plan which shall be provided to each policyowner with the issuance of the policy.
• The summary shall comply with requirements as set forth in the NAIC Model Regulation.
• Each summary shall describe the basis of policy owner expectations, but is not expected to define initial assumptions as to costs or benefits, or specify formulas for their future determinations, although they must be a part of the Plans.

1996-3v2, NAIC Proceedings