(a) In order to provide for full and fair disclosure in the sale of individual accident and health insurance policies or subscriber contracts of a health plan corporation or a nonprofit health service plan or certificates issued by fraternal benefit societies, except for supplemental policies sold on the debit plan, and except for riders or amendments to policies or contracts, no such policy or contract shall be delivered or issued for delivery in this State unless the outline of coverage described in subsection (b) either accompanies the policy or is delivered to the applicant at the time application is made.

(b) The Insurance Commissioner shall issue regulations prescribing the format and contents of the outline of coverage required by subsection (a). “Format” means style, arrangement, and overall appearance, including such items as the size, color and prominence of type and the arrangement of text and captions. The outline of coverage shall include, in a form understandable to a person of average intelligence and education: