Rhode Island § 27-62-7 § 27-62-7. Standards for supplemental illustrations.

Rhode Island Statutes

§ 27-62-7 — § 27-62-7. Standards for supplemental illustrations.

Rhode Island § 27-62-7

Title 27Insurance

Ch. 27-62Life Insurance Policy Illustration

This text of Rhode Island § 27-62-7 (§ 27-62-7. Standards for supplemental illustrations.) is published on Counsel Stack Legal Research, covering Rhode Island primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

R.I. Gen. Laws § 27-62-7 (2026).

Text

§ 27-62-7. 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 this chapter;
         
(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 of a basic illustration that non-guaranteed
            elements are not guaranteed; and
         
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§ 27-62-7. 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 this chapter;

(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 of 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 notice referring to the basic illustration for guaranteed elements and other important information.