In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, the commissioner may make rules to establish standards for any of the following:
(1) if used in connection with the solicitation or sale of life insurance policies and contracts:
(a) a buyer's guide;
(b) a disclosure;
(c) an illustration;
(d) a policy summary; or
(e) a recommendation; and
(2) in a life insurance policy, annuity contract, or life insurance or annuity certificate:
(a) a definition of a term;
(b) a disclosure;
(c) an exclusion; or
(d) a limitation.