| (a) For the deferred annuities, except unallocated group annuities, within the scope of these sections, interest rates, whether guaranteed or subject to future determinations by the company, must not be presented in a manner which might lead the prospect to believe that the complete premium or other consideration under the contract will accumulate at those rates unless such is the case. The sales presentation and any sales material must clearly disclose any loading, policy fees, charges or other items of the contract which represent expenses to the policyholder. (b) If written material stating the guaranteed interest rate (or current or illustrated rate, if a higher rate than the guarantee may be actually applied subject to future determination by the company) is presented to the prospect, then such material must prominently illustrate the actual cash value which would be generated by level periodic premiums and the use of the guaranteed interest
rates.
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