Premiums, Costs, Values and Benefits – Regulators – History

Premiums, Costs, Values and Benefits – Regulators – History

• Section 8. Disclosure Requirements
  • The main concern was that an unsophisticated buyer purchased a policy and did not know what the coverages, benefits and limitations were. 
  • (2) adequate disclosure of the fact that a premium quoted will not support the contract for the whole life if the policy is a Universal Life policy; 

1988 Proc. II 566

Universal Life Model Regulation – Citations (ULMR) (MDL-585)