The policy shall provide that the individual policyowner or group certificateholder will be sent, without charge, at least annually, a report that will serve to keep the policyowner or group certificateholder advised of the status of the policy. The end of the current report period shall be not more than 3 months previous to the date of the mailing of the report.
If, assuming guaranteed interest, mortality and expense loads and continued scheduled premium payments, the individual policy's or group certificate's net cash surrender value is such that it would not maintain insurance in force until the end of the next reporting period, a notice to this effect shall be included in the report;
If, assuming guaranteed interest, mortality and expense loads, the individual policy's or group certificate's net cash surrender value will not maintain insurance in force until the end of the next reporting period unless further premium payments are made, a notice to this effect shall be included in the report.
Ill. Admin. Code tit. 50, § 1411.60