<html> <head> <title>Rule 20:06:38:14 Basic illustration -- Not used in sale of policy.</title> <META NAME="Keywords" Content="Administrative Rules 20:06:38:14"> <META NAME="Description" Content="Administrative Rules 20:06:38:14 Basic illustration -- Not used in sale of policy."> <meta name=Generator content="Microsoft Office HTML Filter 2.0"> <meta http-equiv=Content-Type content="text/html; charset=windows-1252"> <meta name=Originator content="Microsoft Word 10"> <style> <!-- --> </style> </head> <body lang=EN-US> <div> <p><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20:06:38:14.&nbsp;&nbsp;Basic illustration -- Not used in sale of policy.</b> If no illustration is used by an insurance agent or other authorized representative in the sale of a life insurance policy or if the policy is applied for other than as illustrated, the agent or representative must certify to that effect in writing on a form provided by the insurer. On the same form, the applicant must acknowledge that no illustration conforming to the policy applied for was delivered and must further acknowledge an understanding that an illustration conforming to the policy as issued will be delivered no later than at the time of policy delivery. This form must be submitted to the insurer at the time of policy application.</p> <p>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; If the policy is issued, a basic illustration conforming to the policy as issued shall be sent with the policy and signed no later than the time the policy is delivered. A copy must be delivered to the insurer and the policy owner.</p> <p><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Source:</b> 23 SDR 228, effective July 1, 1997.</p> <p><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; General Authority:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=58-33-5.1">58-33-5.1.</A></p> <p><b>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Law Implemented:</b> SDCL <A HREF="/statutes/DisplayStatute.aspx?Type=Statute&Statute=58-33-5.1">58-33-5.1.</A></p> </div> </body> </html>