Section Ins 312.04 - Life Insurer Disclosures to Policyholders(a) A life insurer disclosure to policyholders shall be issued and delivered to every policyholder of individual life insurance residing in New Hampshire regardless of whether the life insurance policy was delivered or issued for delivery in this state. (b) The life insurer disclosure to policyholders shall be provided upon the issuance of a new policy of life insurance and no less than annually thereafter for each year the policy is renewed.(c) The life insurer disclosure to policyholders shall be in writing and shall clearly state the following: (1) Any of the following actions related to the policyholder's life insurance policy may have significant future financial, tax, or other implications: a.Surrender of the policy;c.Failure to pay premium;d.Application of the equity of the policy toward payment of premium;e.Application of accumulated dividends toward payment of premium;f.Financing premium payments;g.Sale of the policy; andh.Assignment of the policy or any right under the policy; and (2) A notice to the policyholder advising: "Before you act, you need to consider all options carefully and seek advice from a licensed financial advisor, attorney, or other professional who can explain all available options and consequences. If you have questions about this notice or your policy, please contact customer service at [insert 1-800-xxx-xxxx]."(d) The life insurer disclosure to policyholders shall be conspicuous and printed with a minimum font size of 12-point type on company letterhead.(e) The life insurer disclosure to policyholders may be provided together with the annual report required by Ins 309.09, provided it otherwise meets the requirements of this part.N.H. Admin. Code § Ins 312.04
Amended by Volume XXXIX Number 19, Filed May 9, 2019, Proposed by #12772, Effective 6/6/2019, Expires 6/6/2029.