W. Va. Code R. § 114-11C-7

Current through Register Vol. XLI, No. 49, December 6, 2024

Section 114-11C-7 - Standards for Supplemental Illustrations

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.

W. Va. Code R. § 114-11C-7