At the time an insurer makes a policy or premium loan that provides for periodic adjustment of policy or premium loan interest rates, the insurer shall provide a separate written disclosure form to the policyholder using plain understandable language that: (a) Provides an explanation of the dollar impact on policy or premium loans when the adjustable interest rate moves up or down. (b) Provides an explanation of the impact of a policy or premium loan on the benefits payable to the policyholder upon the death of the insured if a policy or premium loan remains unpaid at the time of death of the insured. Standard Nonforfeiture Law for Life Insurance
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