West Virginia Code of State Rules
Agency 114 - Insurance Commission
Title 114 - LEGISLATIVE RULE INSURANCE COMMISSIONER
Series 114-11C - Life Insurance Illustrations
Section 114-11C-7 - Standards for Supplemental Illustrations
Universal Citation: 114 WV Code of State Rules 114-11C-7
Current through Register Vol. XLI, No. 38, September 20, 2024
7.1. 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 this rule;
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. The
contract premium, if any, 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.
7.2. The supplemental illustration shall include a notice referring to the basic illustration for guaranteed elements and other important information.
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