Minn. Stat. § 61A.725
This is the official text of Minn. Stat. § 61A.725, part of Minnesota’s Stat — part of the compiled statutory law of Minnesota, published by the state as "Stat." Browse the sections below, each linked to its official government source.
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§ 61A.725 STANDARDS FOR SUPPLEMENTAL ILLUSTRATIONS.
Official statutory text
(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 sections 61A.70 to 61A.745 ;
(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 must be equal to the premium outlay shown in the basic illustration.
(b) The supplemental illustration must include a notice referring to the basic illustration for guaranteed elements and other important information.
(1) it is appended to, accompanied by, or preceded by a basic illustration that complies with sections 61A.70 to 61A.745 ;
(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 must be equal to the premium outlay shown in the basic illustration.
(b) The supplemental illustration must include a notice referring to the basic illustration for guaranteed elements and other important information.
Status: in_force · Read it on the official government site
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