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What is included in a life insurance illustration


Items common to all life insurance policy illustrations include the benefits entitled to a policyholder, the premiums required to maintain the benefit, the expenses related to policy issue and maintenance, and the benefit and premium periods.

What do term policy illustrations show?

A policy illustration shows how the policy's value is expected to change over time and what assumptions those values are based on. A disability policy illustration will also show the waiting period before benefits become payable and describe the conditions that must be met for the policy to payout.

What is the main purpose of the regulation of life insurance policy illustrations?

The purpose of this regulation is to provide rules for life insurance policy illustrations that will protect consumers and foster consumer education.




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