S.D. Admin. R. 20:06:38:09

Current through Register Vol. 51, page 67, December 16, 2024

Section 20:06:38:09 - Standards for basic illustrations - Numeric summary

(1) Policy guarantees;

(2) Insurers illustrated scale;

(3) Insurers illustrated scale used but with the nonguaranteed elements reduced as follows:

(a) Dividends at 50 percent of the dividends contained in the illustrated scale used;

(b) Nonguaranteed credited interest at rates that are the average of the guaranteed rates and the rates contained in the illustrated scale used; and

(c) All nonguaranteed charges, including charges for term insurance, mortality, and expenses, at rates that are the average of the guaranteed rates and the rates contained in the illustrated scale used.

In addition, if coverage would cease prior to policy maturity or age 100, the year in which coverage ceases must be identified for each of the three bases.

S.D. Admin. R. 20:06:38:09

23 SDR 228, effective 7/1/1997.

General Authority: SDCL 58-33-5.1.

Law Implemented: SDCL 58-33-5.1.