Oregon Administrative Rules
Chapter 836 - DEPARTMENT OF CONSUMER AND BUSINESS SERVICES, INSURANCE REGULATION
Division 51 - LIFE, INDIVIDUAL AND GROUP; ANNUITIES
Section 836-051-0560 - Standards for Supplemental Illustrations
Universal Citation: OR Admin Rules 836-051-0560
Current through Register Vol. 63, No. 9, September 1, 2024
(1) A supplemental illustration may be provided so long as:
(a) It is appended to,
accompanied by or preceded by a basic illustration that complies with OAR
836-051-0500 to
836-051-0600;
(b) 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;
(c) It contains the same statement required
of a basic illustration that non-guaranteed elements are not guaranteed;
and
(d) 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.
Stat. Auth.: ORS 731.244 & ORS 746.240
Stats. Implemented: ORS 746.075, ORS 746.085, ORS 746.100, ORS 746.110 & ORS 746.240
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