S.D. Admin. R. 20:06:38:12

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

Section 20:06:38:12 - Standards for supplemental illustrations

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

(2) The nonguaranteed 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 nonguaranteed elements are not guaranteed; and

(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 must be equal to the premium outlay shown in the basic illustration.

The supplemental illustration may be presented in a format differing from the basic illustration, but may only depict a scale of nonguaranteed elements that is permitted in a basic illustration.

S.D. Admin. R. 20:06:38:12

23 SDR 228, effective 7/1/1997.

General Authority: SDCL 58-33-5.1.

Law Implemented: SDCL 58-33-5.1.