Rule 19-2-9.08 - Disclosure RequirementsA. In connection with any advertising, solicitation, negotiation, or procurement of a universal life insurance policy:1. Any statement of policy cost factors or benefits shall contain: a. The corresponding guaranteed policy cost factors or benefits, clearly identified.b. A statement explaining the nonguaranteed nature of any current interest rates, charges, or other fees applied to the policy, including the insurer's rights to alter any of these factors.c. Any limitations on the crediting of interest, including identification of those portions of the policy to which a specified interest rate shall be credited. (Note: Policy cost factors are those amounts which affect the price per thousand of life insurance coverage of other benefits. They include: interest, mortality, expense charges and fees, including any surrender or withdrawal charges, but not persistency assumptions.)
2. Any illustration of the policy value shall be accompanied by the corresponding net cash surrender value.3. Any statement regarding the crediting of a specific current interest rate shall also contain the frequency and timing by which such rate is determined.4. If any statement refers to the policy being interest-indexed, the index shall be described. In addition, a description shall be given of the frequency and timing of determining the interest rate and of any adjustments made to the index in arriving at the interest rate credited under the policy.5. Any illustrated benefits based upon nonguaranteed interest, mortality, or expense factors shall be accompanied by a statement indicating that these benefits are not guaranteed.6. If the guaranteed cost factors or initial policy cost factor assumptions would result in policy values becoming exhausted prior to the policy's maturity date, such fact shall be disclosed, including notice that coverage will terminate under such circumstances.Miss. Code Ann. §§ 83-5-1; 83-7-25 (Rev. 2011)