Insurance Illustrations

Illustrations must include:

Name of insurer Name/address of producer Name/age/sex of insured Underwriting and rating classification (company) Initial death benefit

NAIC Model Regulation

Illustrations certified annually by an actuary Must be sent to insurer along with policy application Must be signed by applicant and agent Insured must be given an annual report Cannot represent any other policy Prohibits the term "vanish"

Illustrations

Principle source of financial information regarding a new policy

NAIC

Voluntary association of top insurance admins in each state • Oversees state accreditation program • Promotes law and regulation uniformity • Transmits information to regulators • Protects interest of policy holders/preserves state regulations