NAC688A.130. Contract summary: Preparation.

     1. The contract summary must be a separate document.

     2. All information required to be disclosed must be set out in a manner which will not minimize or render any portion of the summary obscure.

     3. Any amounts which remain level for 2 or more contract years may be represented by a single number if it is clearly indicated what amounts are applicable for each contract year.

     4. Amounts in subsections 4, 6, 7 and 9 of NAC 688A.135 must, in the case of flexible premium annuity contracts, be determined either according to an anticipated pattern of consideration payments or on the assumption that annual considerations payable will be $1,000.

     5. If not specified in the contract, annuity payments must be assumed to commence at age 65 or 10 years from issue, whichever is later.

     6. Zero amounts must be displayed as zero and not as blank spaces.

     [Comm’r of Insurance, LH-7 § 6, eff. 2-6-80]