HB 1899 - DIGEST

(SUBSTITUTED FOR - SEE 1ST SUB)

     Declares that the purpose of this act is to provide standards for life insurance policy illustrations that will protect consumers and foster consumer education by providing illustration formats, prescribing standards to be followed when illustrations are used, and specifying the disclosures that are required in connection with illustrations.  The goals of these standards are to ensure that illustrations do not mislead purchasers of life insurance and to make illustrations more understandable.