The purpose of this rule is to implement Ark. Code Ann. § 23-85-105, § 23-76-125, and § 23-74-401, et seq., so as to provide reasonable standardization and simplification of terms and coverages of individual accident and health insurance policies, individual subscriber contracts of hospital, medical and dental service corporations and health maintenance organizations and certificates of fraternal benefit societies in order to facilitate public understanding and comparison and to eliminate provisions contained in individual accident and health insurance policies and individual subscriber contracts of hospital, medical, and dental service corporations, and health maintenance organizations and certificates of fraternal benefit societies, all of which are hereinafter referred to as “Policy” or “Policies”, which may be misleading or confusing in connection either with the purchase of such coverages or with settlement of claims and to provide for full disclosure in the sale of such coverages.