[§431:10D-404]  General requirements and
prohibitions.  (a)  An illustration used in the sale of a life insurance
policy shall satisfy the applicable requirements of this part, be clearly
labeled "life insurance illustration", and contain the following basic
information:



(1)  Name of insurer;



(2)  Name and business address of producer and
insurer's authorized representative, if any;



(3)  Name, age, and sex of proposed insured, except
where a composite illustration is permitted under this part;



(4)  Underwriting or rating classification upon which
the illustration is based;



(5)  Generic name of policy, the company product name,
if different, and form number;



(6)  Initial death benefit; and



(7)  Dividend option election or application of
non-guaranteed elements, if applicable.



(b)  When using an illustration in the sale of
a life insurance policy, an insurer, its producers, or other authorized
representatives shall not:



(1)  Represent the policy as anything other than a
life insurance policy;



(2)  Use or describe nonguaranteed elements in a
manner that is misleading or has the capacity or tendency to mislead;



(3)  State or imply that the payment or amount of
nonguaranteed elements is guaranteed;



(4)  Use an illustration that does not comply with the
requirements of this part;



(5)  Use an illustration that at any policy duration
depicts policy performance more favorable to the policy owner than that
produced by the illustrated scale of the insurer whose policy is being
illustrated;



(6)  Provide an applicant with an incomplete
illustration;



(7)  Represent in any way that premium payments will
not be required for each year of the policy in order to maintain the
illustrated death benefits, unless that is a fact;



(8)  Use the term "vanish" or
"vanishing premium", or a similar term that implies the policy
becomes paid up, to describe a plan for using nonguaranteed elements to pay a
portion of future premiums;



(9)  Except for policies that can never develop
nonforfeiture values, use an illustration that is lapse-supported; or



(10)  Use an illustration that is not self-supporting.



(c)  If an interest rate used to determine the
illustrated nonguaranteed elements is shown, it shall not be greater than the
earned interest rate underlying the disciplined current scale. [L 2000, c 252,
pt of §2]