Rules Governing the Advertising of Life Insurance – NAIC

Our Lexington report alluded to the controversial issue of nonguaranteed policy element illustrations.
Currently, the issue is being addressed by four different groups:
1. this task force;
2. the Life Insurance (A) Committee's Cost Disclosure Task Force;
3. the American Academy of Actuaries Task Force on Nonguaranteed Elements; and
4. the American Council of Life Insurance's Subcommittee on Cost Comparisons.
For this reason, subsection 14(b) should await the consensus of opinion on this issue at the December meeting. (p137)

-- Report of the Market Conduct and Consumer Affairs (EX3) Advisory Committee- JUNE 22, 1987

1987-2, NAIC Proc.

1991-1A, NAIC Proceedings - NAIC Proceedings - p541
6. Adopt Resolution Regarding Rules Governing the Advertising of Life Insurance
- Commissioner Lyons discussed the purpose of the Rules Governing the Advertising of Life Insurance, which is to set forth minimum standards and guidelines to assure full and truthful disclosure to the public of all material and relevant information in the advertising of life insurance policies and annuity contracts.
- He asked that this committee recommend for adoption this resolution which encourages those states which have not adopted this Rule to do so and encourages those states which have adopted the Rule to adopt the subsequent amendments and enforce the provisions of the Rule.
- Upon motion duly made and seconded, the resolution was adopted for presentation to the Executive Committee (Attachment Seven).