GUIDELINES ON SALES ILLUSTRATIONS OF LIFE INSURANCE PROPOSALS
National Administrative Register [ IC CIRCULAR LETTER NO. 23-2005, August 03, 2005 ]
In view of the differing sales illustrations interest rates in the market being used by life insurance companies on various life products there is a need to come up with a standard basis of these illustrations.
Attached is the Guidelines on Sales Illustrations of Life Insurance Proposal* to be used for traditional and variable life products to provide the life insurance industry a standard format of illustrating projected values for purposes of making sales presentations.
This Circular shall take effect immediately.
Adopted: 3 Aug. 2005
(SGD.) BENJAMIN S. SANTOS
Insurance Commissioner
* Text Available at Office of the National Administrative Register, U.P. Law Complex, Diliman, Quezon City.