NAC686A.4685. “Self-supporting illustration” defined.

“Self-supporting illustration” means an illustration for which the accumulated value of the policy cash flows equals or exceeds the total policy owner value available:

     1. When using experience assumptions underlying the disciplined current scale; and

     2. For illustrated points in time on or after the 15th anniversary of the policy, or the 20th anniversary of a policy that provides for the payment of death benefits upon the death of a second or subsequent person insured under the policy, commonly referred to as a second-or-later-to-die policy, or upon the expiration of the policy, whichever occurs first. For the purposes of this subsection, the policy owner value includes, without limitation, the cash surrender value of a policy and any other illustrated benefits available at the election of the policy owner.

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