375.1515. Supplemental illustrations permitted, when--notice required. - Missouri Statutes

Supplemental illustrations permitted, when--notice required.

375.1515. 1. A supplemental illustration may be provided so long as:

(1) It is appended to, accompanied by or preceded by a basicillustration that complies with sections 375.1500 to 375.1527;

(2) The nonguaranteed elements shown are not more favorable to thepolicy owner than the corresponding elements based on the scale used in thebasic illustration;

(3) It contains the same statement required of a basic illustrationthat nonguaranteed elements are not guaranteed; and

(4) For a policy that has a contract premium, the contract premiumunderlying the supplemental illustration is equal to the contract premiumshown in the basic illustration. For policies that do not require acontract premium, the premium outlay underlying the supplementalillustration shall be equal to the premium outlay shown in the basicillustration.

2. The supplemental illustration shall include a notice referring tothe basic illustration for guaranteed elements and other importantinformation.

(L. 1998 S.B. 722 § 11)