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Title XXIV BUSINESS AND FINANCIAL INSTITUTIONS

  Chapter 375back to chapter 375

  375.1515.  Supplemental illustrations permitted, when — notice required. — 1.  A supplemental illustration may be provided so long as:

  (1)  It is appended to, accompanied by or preceded by a basic illustration that complies with sections 375.1500 to 375.1527;

  (2)  The nonguaranteed elements shown are not more favorable to the policy owner than the corresponding elements based on the scale used in the basic illustration;

  (3)  It contains the same statement required of a basic illustration that nonguaranteed elements are not guaranteed; and

  (4)  For a policy that has a contract premium, the contract premium underlying the supplemental illustration is equal to the contract premium shown in the basic illustration.  For policies that do not require a contract premium, the premium outlay underlying the supplemental illustration shall be equal to the premium outlay shown in the basic illustration.

  2.  The supplemental illustration shall include a notice referring to the basic illustration for guaranteed elements and other important information.

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(L. 1998 S.B. 722 § 11)


< end of effective 28 Aug 1998 >

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