§ 27-62-7 - Standards for supplemental illustrations. - Rhode-island Statutes

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Statutes > Rhode-island > Title-27 > Chapter-27-62 > 27-62-7

SECTION 27-62-7

§ 27-62-7 Standards for supplementalillustrations. – (a) A supplemental illustration may be provided so long as:

(1) It is appended to, accompanied by, or preceded by a basicillustration that complies with this chapter;

(2) The non-guaranteed elements shown are not more favorableto the policy owner than the corresponding elements based on the scale used inthe basic illustration;

(3) It contains the same statement required of a basicillustration that non-guaranteed elements are not guaranteed; and

(4) For a policy that has a contract premium, the contractpremium underlying the supplemental illustration is equal to the contractpremium shown in the basic illustration. For policies that do not require acontract premium, the premium outlay underlying the supplemental illustrationshall be equal to the premium outlay shown in the basic illustration.

(b) The supplemental illustration shall include a noticereferring to the basic illustration for guaranteed elements and other importantinformation.

State Codes and Statutes

Statutes > Rhode-island > Title-27 > Chapter-27-62 > 27-62-7

SECTION 27-62-7

§ 27-62-7 Standards for supplementalillustrations. – (a) A supplemental illustration may be provided so long as:

(1) It is appended to, accompanied by, or preceded by a basicillustration that complies with this chapter;

(2) The non-guaranteed elements shown are not more favorableto the policy owner than the corresponding elements based on the scale used inthe basic illustration;

(3) It contains the same statement required of a basicillustration that non-guaranteed elements are not guaranteed; and

(4) For a policy that has a contract premium, the contractpremium underlying the supplemental illustration is equal to the contractpremium shown in the basic illustration. For policies that do not require acontract premium, the premium outlay underlying the supplemental illustrationshall be equal to the premium outlay shown in the basic illustration.

(b) The supplemental illustration shall include a noticereferring to the basic illustration for guaranteed elements and other importantinformation.

State Codes and Statutes

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State Codes and Statutes

Statutes > Rhode-island > Title-27 > Chapter-27-62 > 27-62-7

SECTION 27-62-7

§ 27-62-7 Standards for supplementalillustrations. – (a) A supplemental illustration may be provided so long as:

(1) It is appended to, accompanied by, or preceded by a basicillustration that complies with this chapter;

(2) The non-guaranteed elements shown are not more favorableto the policy owner than the corresponding elements based on the scale used inthe basic illustration;

(3) It contains the same statement required of a basicillustration that non-guaranteed elements are not guaranteed; and

(4) For a policy that has a contract premium, the contractpremium underlying the supplemental illustration is equal to the contractpremium shown in the basic illustration. For policies that do not require acontract premium, the premium outlay underlying the supplemental illustrationshall be equal to the premium outlay shown in the basic illustration.

(b) The supplemental illustration shall include a noticereferring to the basic illustration for guaranteed elements and other importantinformation.