And each years death benefits.

What is included in a life insurance policy illustration. Basic illustration means a ledger or proposal used in the sale of a life insurance policy that shows both guaranteed and non-guaranteed elements. It shows how your policy will perform over your lifetime. Whole life universal life variable life and indexed life insurance.

The cash value column under current values assumptions. A life insurance policy illustration is a set of projections prepared by the actuarial department of the insurance company. Items common to all life insurance policy illustrations include the benefits to which a policyholder is entitled the premiums required to maintain the benefit the expenses related to policy issue and maintenance and the benefit and premium periods.

Agents name Generic name of policy Insured Age Sex. Life insurance illustration refers to the document that contains comprehensive information about a life insurance policy. If its a term policy the projections extend to when the policy ends.

Illustration means a presentation or depiction that includes non-guaranteed elements of a policy of life insurance over a period of years and that is one of the three 3 types defined below. To create a life insurance illustration the agent plugs many different variables into a software program developed by the insurer. Information includes the coverage benefits and the payment scheme.

Total premiums paid up to that year. A life insurance Policy Illustration will reveal how various life insurance products work. Using policy dividends or cash values to pay the premium.

A policy or sales illustration is an educational tool that shows a prospective or new insurance policyholder how a life or disability insurance policy works. It includes financial projections for each year. Life insurance illustration questionnaire form whose purpose it is to help the agent and the prospective policyowner judge the validity of the insurance companys policy illustrations.