11 NCAC 04 .0506. STANDARDS FOR SUPPLEMENTAL ILLUSTRATIONS

(a)  A supplemental illustration may be provided as long as:

(1)           It is appended to, accompanied by or preceded by a basic illustration that complies with this Section;

(2)           The non‑guaranteed 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 non‑guaranteed 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 illustration.

(b)  The supplemental illustration shall include a notice referring to the basic illustration for guaranteed elements.

 

History Note:        Authority G.S. 58-2-40; 58-58-1; 58-58-40; 58-60-15; 58-60-20; 58-63-15; 58-63-65;

Eff. January 1, 1997.