(a) The Commissioner shall disapprove any such form of policy, application, rider, or endorsement, or withdraw any previous approval thereof, only as follows:
(1) if it is in any respect in violation of or does not comply with this title;
(2) if it does not comply with any controlling filing theretofore made and approved;
(3) if it contains or incorporates by reference any inconsistent, ambiguous or misleading clauses, or exceptions and conditions which unreasonably or deceptively affect the risk purported to be assumed in the general coverage of the contract;
(4) if it has any title, heading, or other indication of its provisions which is misleading; or
(5) if purchase of insurance thereunder is being solicited by deceptive advertising.
(b) In addition to the grounds for disapproval of any such form as provided in subsection (a) of this section, the Commissioner may disapprove any form of disability insurance policy if the benefits provided therein are unreasonable in relation to the premium charged.