Or. Admin. R. 836-051-0560

Current through Register Vol. 63, No. 8, August 1, 2024

Section 836-051-0560 - Standards for Supplemental Illustrations

(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 OAR 836-051-0500 to 836-051-0600;

(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) 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.

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

Or. Admin. R. 836-051-0560

ID 5-1997, f. 5-27-97, cert. ef. 7-1-97

Stat. Auth.: ORS 731.244 & ORS 746.240

Stats. Implemented: ORS 746.075, ORS 746.085, ORS 746.100, ORS 746.110 & ORS 746.240