Definition of Policy illustration


Policy illustration means a presentation or depiction that includes
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Policy illustration means a level premium, policy values and Net Death Benefit projection produced by the Eligible Insurance Company or an agent of the Eligible Insurance Company, using the Eligible Insurance Company's current/non-guaranteed values sufficient to carry the Eligible Life Insurance Policy to the Life Expectancy Date.
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Examples of Policy illustration in a sentence

The extent to which the Company-approved Policy illustration disclosures about dividends or interest differed from either the Company's then-applicable Annual Statement responses (e.g., Schedule M Supplement and Exhibit 8) or the Company's then-current internal assessments concerning the sustainability of dividend scales or interest crediting rates for Policies.