TCA § 56-7-705 — Misrepresentations as to terms, benefits, or advantages of industrial life, health or accident insurance policies forbidden — “Industrial insurance” defined

No insurance company or association transacting an industrial life, health, or accident business in this state, and no officer, director, or agent thereof, shall knowingly issue, circulate, or cause to be issued or circulated, any estimate, illustration, circular, or statement of any sort misrepresenting the terms of any policy issued by it, or the benefits or advantages promised by the policy, or dividends or shares or surplus to be received on the policy, or shall use any name or title of any policy or class of policies that misrepresent the true nature of the policy; provided, that “industrial insurance”, as used in this section, means insurance on which the premiums are payable in weekly installments.