Rhode Island § 27-62-7 - Life Insurance Policy Illustration
Full text of Rhode Island Rhode Island General Laws § 27-62-7 — Life Insurance Policy Illustration, with citation guidance and answers to common questions.
§ 27-62-7. Life Insurance Policy Illustration
R.I. Gen. Laws § 27-62-7
§ 27-62-7. Standards for supplemental illustrations.
(a) A supplemental illustration may be provided so long as:
(1) It is appended to, accompanied by, or preceded by a basic illustration that complies with this chapter;
(2) The non-guaranteed elements shown are not more favorable to the policy owner than the corresponding elements based on the scale used in the basic illustration;
(3) It contains the same statement required of a basic illustration that non-guaranteed elements are not guaranteed; and
(4) For a policy that has a contract premium, the contract premium underlying the supplemental illustration is equal to the contract premium shown in the basic illustration. For policies that do not require a contract premium, the premium outlay underlying the supplemental illustration shall be equal to the premium outlay shown in the basic illustration.
(b) The supplemental illustration shall include a notice referring to the basic illustration for guaranteed elements and other important information.
History of Section.
P.L. 1998, ch. 56, § 1.
Source: official Rhode Island text · Last verified 2026-08-27
Frequently Asked Questions About Rhode Island § 27-62-7
What does Rhode Island General Laws § 27-62-7 cover?
Section 27-62-7 ("Life Insurance Policy Illustration") is part of the Rhode Island General Laws, the codified statutory law of Rhode Island. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Rhode Island § 27-62-7?
A common citation format is "Rhode Island General Laws § 27-62-7" (Rhode Island). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Rhode Island law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Rhode Island official source linked on this page or consult a licensed Rhode Island attorney.
How does Rhode Island § 27-62-7 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Rhode Island can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Rhode Island.