Life Insurance Basics
What is a life insurance policy illustration?
A life insurance policy illustration is a document that shows how a policy is projected to perform over time. Illustrations show guaranteed values (minimum performance) and non-guaranteed values (projected performance based on current assumptions). Always review the guaranteed values — non-guaranteed values may not be achieved.
Key Points
- Illustration: shows projected policy performance over time
- Guaranteed values: minimum performance — will always be achieved
- Non-guaranteed values: projected performance — may not be achieved
- Review guaranteed values carefully
- An independent agent can help you understand policy illustrations