§ 48.23A.005 Purpose — Standards for life insurance policy illustrations
§ 48.23A.010 Scope of chapter — Exceptions
§ 48.23A.015 Definitions
§ 48.23A.020 Marketing with or without an illustration — Notice to commissioner — Conditions — Availability
§ 48.23A.030 Illustration used in sale — Label — Required basic information — Prohibitions — Use of interest rate
§ 48.23A.040 Basic illustration — Conforming requirements — Brief descriptions — Numeric summaries — Required statements
§ 48.23A.050 Supplemental illustration — Conditions for use — Reference to basic illustration
§ 48.23A.060 Illustration used or not used during sale — Signed copy of illustration or acknowledgment of no use — Computer screen — Retained copies
§ 48.23A.070 Policy designated for use of illustrations — Annual report — Required information — In-force illustrations — Notice of adverse changes
§ 48.23A.080 Illustration actuaries — Conditions for appointment — Duties — Certifications — Disclosures to commissioner
§ 48.23A.090 Violations — RCW 48.30.010(1)
§ 48.23A.901 Effective date — Application — 1997 c 313
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Terms Used In Washington Code > Chapter 48.23A - Life insurance policy illustrations

  • Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
  • Contract: A legal written agreement that becomes binding when signed.
  • Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
  • Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.
  • Outlays: Outlays are payments made (generally through the issuance of checks or disbursement of cash) to liquidate obligations. Outlays during a fiscal year may be for payment of obligations incurred in prior years or in the same year.
  • person: may be construed to include the United States, this state, or any state or territory, or any public or private corporation or limited liability company, as well as an individual. See Washington Code 1.16.080