If the commissioner has reason to believe that any insurer has violated this chapter, the commissioner may request and the insurer shall file both of the following:

(a) An example of the annual report to the policy owner with notice of adverse change in nonguaranteed elements.

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Terms Used In California Insurance Code 10509.963

  • Commissioner: means the Insurance Commissioner of this State. See California Insurance Code 20
  • Illustration: means a presentation or depiction that includes nonguaranteed elements of a policy of life insurance over a period of years and that is one of the three types defined below:

    California Insurance Code 10509.953

  • Policy owner: means the owner named in the policy or the certificate holder in the case of a group policy. See California Insurance Code 10509.953

(b) An example of an illustration.

(Amended by Stats. 1997, Ch. 17, Sec. 89. Effective January 1, 1998.)

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