N.J. Admin. Code § 11:4-52.6

Current through Register Vol. 56, No. 24, December 18, 2024

Section 11:4-52.6 - 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 these rules;

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 by N.J.A.C. 11:4-52.5(a)12 to be included in a basic illustration that non-guaranteed 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 shall be equal to the premium outlay shown in the basic illustration.

(b) The supplemental illustration shall include a prominent notice (that is, in either boldface type or type larger than that used for the basic illustration) referring to the basic illustration for guaranteed elements and other important information.

N.J. Admin. Code § 11:4-52.6