N.M. Admin. Code § 13.9.14.18

Current through Register Vol. 35, No. 24, December 23, 2024

Section 13.9.14.18 - STANDARDS FOR SUPPLEMENTAL ILLUSTRATIONS

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 this rule;

(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 of a basic illustration that non-guaranteed elements are not guaranteed;

(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.; and

B. If a supplemental illustration is provided, it shall include a notice referring to the basic illustration for guaranteed elements and other important information.

N.M. Admin. Code § 13.9.14.18

10/1/98; Recompiled 11/30/01