New Jersey Administrative Code
Title 11 - INSURANCE
Chapter 4 - ACTUARIAL SERVICES
Subchapter 52 - LIFE INSURANCE ILLUSTRATIONS
Section 11:4-52.6 - Standards for supplemental illustrations
Universal Citation: NJ Admin Code 11:4-52.6
Current through Register Vol. 56, No. 6, March 18, 2024
(a) 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 these rules;
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 by
11:4-52.5(a)12
to be included in 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 basic illustration.
(b) The supplemental illustration shall include a prominent notice (that is, in either boldface type or type larger than that used for the basic illustration) referring to the basic illustration for guaranteed elements and other important information.
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