§431:10D-408 Annual reports and notice to policy owners. (a) In the case of a policy designated as one for which illustrations will be used, the insurer shall provide each policy owner with an annual report on the status of the policy that shall contain at least the following information:
(b) 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 or producer. If you do not receive a current illustration of your policy within thirty days from your request, you should contact your state insurance department."
(c) 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 sections 431:10D-404(a), 431:10D-404(b), 431:10D-405(a), and 431:10D-405(e). No signature or other acknowledgment of receipt of this illustration shall be required.
(d) If an adverse change in nonguaranteed elements that could affect the policy has been made by the insurer since the last annual report, the annual report shall contain a notice of that fact and the nature of the change shall be prominently displayed. [L 2000, c 252, pt of §2; am L 2003, c 212, §89]