20:06:21:27. Outline of coverage. Insurers shall include the following information in or with the outline of coverage:
(1) A graphic comparison of the benefit levels of a policy that increases benefits over the policy period with a policy that does not increase benefits. The graphic comparison must show benefit levels over at least a 20-year period; and
(2) Any expected premium increases or additional premiums to pay for automatic or optional benefit increases.
An insurer may use a reasonable hypothetical or a graphic demonstration for the purposes of this disclosure.
Source: 22 SDR 97, effective December 18, 1995.
General Authority: SDCL 58-17B-4.
Law Implemented: SDCL 58-17B-10.
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