N.M. Admin. Code § 13.9.2.11

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

Section 13.9.2.11 - CONTENTS OF PROPOSAL

Any proposal referred to in this rule must:

A. be dated and signed by the insurance agent;

B. state the name of the company in which the life insurance policy, or endowment or annuity contract is to be written;

C. state that the purchaser has the right to purchase a life insurance policy, or an endowment or an annuity contract only, mutual fund shares or other securities only, or together a life insurance policy, an endowment and an annuity contract and mutual fund shares or other securities;

D. be accurate and complete and state all facts without which the proposal would have the capacity or tendency to mislead or deceive;

E. show the premium charge for life insurance policy, or endowment or annuity contract separately from any other charge;

F. show the value of the life insurance policy, or endowment or annuity contract, if any, separately from any other value;

G. show the amount of the death benefit for the life insurance policy, if it is involved in the presentation, separately from any other benefit which may accrue upon the death of the insured;

H. set forth separately all matters pertaining to the life insurance policy, endowment or annuity contract, if any are involved;

I. set forth policy numbers, name of company, face value and cash values of all existing policies which are to be surrendered if the proposal is accepted.

N.M. Admin. Code § 13.9.2.11

7/1/97; Recompiled 11/30/01