2016 Hawaii Revised Statutes
TITLE 24. INSURANCE
431. Insurance Code
431:10D-406 Standards for supplemental illustrations.

HI Rev Stat § 431:10D-406 (2016) What's This?

[§431:10D-406] 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 part;

(2) The nonguaranteed 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 nonguaranteed 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. [L 2000, c 252, pt of §2]

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