§ 58-60-1. Short title; purpose. - North Carolina Statutes

Article 60.

Standards of Disclosurefor Annuities and Life Insurance.

Part 1. Regulation of LifeInsurance Solicitation.

§ 58‑60‑1.  Shorttitle; purpose.

(a)        This Part may becited as the "Life Insurance Disclosure Act".

(b)        The purpose of thisPart is to require insurers to deliver to purchasers of life insurance,information which will improve the buyer's ability to select the mostappropriate plan of life insurance for the buyer's needs, improve the buyer'sunderstanding of the basic features of the policy which has been purchased orwhich is under consideration and to improve the ability of the buyer toevaluate the relative costs of similar plans of life insurance.

This Part does not prohibit aninsurer from using additional material that is not in violation of Articles 1through 64 of this Chapter nor any other statute or regulation. (1979, c. 447; 2005‑234,s. 1.3.)