N.M. Admin. Code § 13.9.14.26

Current through Register Vol. 35, No. 24, December 23, 2024

Section 13.9.14.26 - ANNUAL REPORT WITHOUT IN-FORCE ILLUSTRATIONS

A. If the annual report does not include an in force illustration, it shall contain the following notice displayed prominently: "IMPORTANT POLICY OWNER NOTICE: You should consider requesting more detailed information about your policy to understand how it may perform in the future. You should not consider replacement of your policy or make changes in your coverage without requesting a current illustration. You may annually request, without charge, such an illustration by calling [insurer's phone number], writing to [insurer's name] at [insurer's address] or contacting your agent. If you do not receive a current illustration of your policy within 30 days from your request, you should contact your state insurance department." The insurer may vary the sequential order of the methods for obtaining an in force illustration.

B. Upon the request of the policy owner, the insurer shall furnish an in force illustration of current and future benefits and values based on the insurer's present illustrated scale. This illustration shall comply with the requirements of 13 nmac 9.14.10, 9.14.11, 9.14.13 and 9.14.17 [now 13.9.14.10 NMAC, 13.9.14.11 NMAC, 13.9.14.13 NMAC and 13.9.14.17 NMAC]. No signature or other acknowledgment of receipt of this illustration shall be required.

10/1/98; Recompiled 11/30/01