Code of Maryland Regulations
Title 31 - MARYLAND INSURANCE ADMINISTRATION
Subtitle 09 - LIFE INSURANCE AND ANNUITIES
Chapter 31.09.09 - Life Insurance Illustrations
Section 31.09.09.08 - Standards for Supplemental Illustrations
Universal Citation: MD Code Reg 31.09.09.08
Current through Register Vol. 51, No. 19, September 20, 2024
A. A supplemental illustration may be provided if:
(1) It is appended to, accompanied by, or preceded by a basic illustration that complies with this chapter;
(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:
(a) Has a contract premium, the contract premium underlying the supplemental illustration is equal to the contract premium shown in the basic illustration, or
(b) Does not require a contract premium, the premium outlay underlying the supplemental illustration is equal to the premium outlay shown in the basic illustration.
B. The supplemental illustration shall include a notice referring to the basic illustration for guaranteed elements and other important information.
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