Md. Code Regs. 31.09.09.08

Current through Register Vol. 51, No. 22, November 1, 2024

Section 31.09.09.08 - Standards for Supplemental Illustrations

A. A supplemental illustration may be provided if:

(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:

(a) Has a contract premium, the contract premium underlying the supplemental illustration is equal to the contract premium shown in the basic illustration, or

(b) Does not require a contract premium, the premium outlay underlying the supplemental illustration is equal to the premium outlay shown in the basic illustration.

B. The supplemental illustration shall include a notice referring to the basic illustration for guaranteed elements and other important information.

Md. Code Regs. 31.09.09.08