§ 58-60-15. Disclosure requirements. - North Carolina Statutes

§58‑60‑15.  Disclosure requirements.

(a)        The insurer shallprovide to all prospective purchasers a Buyer's Guide and a Policy Summaryprior to accepting any applicant's initial premium deposit, unless the policyfor which application is made contains an unconditional refund provision of atleast 10 days or unless the Policy Summary contains such an unconditionalrefund offer, in which event the Buyer's Guide and Policy Summary must bedelivered with the policy or prior to delivery of the policy.

(b)        The insurer shallprovide a Buyer's Guide and a Policy Summary to any prospective purchaser uponrequest.

(c)        In the case ofpolicies whose Equivalent Level Death Benefit does not exceed five thousanddollars ($5,000), the requirement for providing a Policy Summary will besatisfied by delivery of a written statement containing the informationdescribed in G.S. 58‑60‑10(7), subdivisions b, c, d, e1, e2, e3, f,g, j, and k. (1979, c. 447; 1993, c. 553, s. 21.)