NAC686A.4655. “Lapse-supported illustration” defined.

Latest version.

“Lapse-supported illustration” means an illustration that:

1. Is not a self-supporting illustration; and

2. Uses persistency rates underlying the disciplined current scale for the first 5 years of the policy being illustrated and a 100 percent policy persistency rate thereafter.

(Added to NAC by Comm’r of Insurance by R089-97, eff. 1-14-98)

                    
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