Ins 2.17(9)(a)1.g.g. For fixed premium policies, in addition to the information described in subd. 1. a. through f. if, assuming guaranteed interest, mortality and expense loads and continued scheduled premium payments, the policy’s net cash surrender value is such that it would not maintain insurance in force until the end of the next reporting period, a notice to this effect shall be included in the report. Ins 2.17(9)(a)1.h.h. For flexible premium policies, in addition to the information described in subd. 1. a. through f. if, assuming guaranteed interest, mortality and expense loads, the policy’s net cash surrender value will not maintain insurance in force until the end of the next reporting period unless further premium payments are made, a notice to this effect shall be included in the report. Ins 2.17(9)(b)(b) Insurers writing life insurance policies that do not build nonforfeiture values shall only be required to provide an annual report with respect to these policies for those years when a change has been made to nonguaranteed policy elements by the insurer. Ins 2.17(9)(c)(c) If the annual report does not include an in force illustration, it shall contain the following notice displayed prominently: “IMPORTANT POLICY OWNER NOTICE: You should consider requesting more detailed information about your policy to understand how it may perform in the future. You should not consider replacement of your policy or make changes in your coverage without requesting a current illustration. You may annually request, without charge, such an illustration by calling [insurer’s phone number], writing to [insurer’s name] at [insurer’s address] or contacting your agent. If you do not receive a current illustration of your policy within 30 days from your request, you should contact your state insurance department.” The insurer may vary the sequential order of the methods for obtaining an in force illustration. Ins 2.17(9)(d)(d) Within 25 calendar days of receipt of a request from the policy owner, the insurer shall furnish an in force illustration of current and future benefits and values based on the insurer’s present illustrated scale. This illustration shall comply with the requirements of subs. (5) (a), (5) (b), (6) (a) and (6) (e). No signature or other acknowledgment of receipt of this illustration is required. Ins 2.17(9)(e)(e) If an adverse change in non-guaranteed elements that could affect the policy has been made by the insurer since the last annual report, the annual report shall contain a notice of that fact and the nature of the change prominently displayed. Ins 2.17(10)(a)(a) The board of directors of each insurer shall appoint one or more illustration actuaries. Ins 2.17(10)(b)(b) The illustration actuary shall certify that the disciplined current scale used in illustrations is in conformity with the actuarial standard of practice for compliance with the national association of insurance commissioners model regulation on life insurance illustrations promulgated by the actuarial standards board, and that the illustrated scales used in insurer-authorized illustrations meet the requirements of this section. Ins 2.17(10)(c)1.1. Be a member in good standing of the American academy of actuaries. Ins 2.17(10)(c)2.2. Be familiar with the standard of practice regarding life insurance policy illustrations. Ins 2.17(10)(c)3.3. Not have been found by the commissioner, following appropriate notice and hearing to have done any of the following: Ins 2.17(10)(c)3.a.a. Violated any provision of, or any obligation imposed by, the insurance law or other law in the course of the actuary’s dealings as an illustration actuary. Ins 2.17(10)(c)3.c.c. Demonstrated the actuary’s incompetence, lack of cooperation, or untrustworthiness to act as an illustration actuary. Ins 2.17(10)(c)3.d.d. Resigned or been removed as an illustration actuary within the past 5 years as a result of acts or omissions indicated in any adverse report on examination or as a result of a failure to adhere to generally acceptable actuarial standards. Ins 2.17(10)(c)4.4. Not fail within 30 calendar days to notify the commissioner of any action taken by a commissioner of another state similar to that under subd. 3. Ins 2.17(10)(c)5.5. Disclose in the annual certification whether, since the last certification, a currently payable scale applicable for business issued within the previous 5 years and within the scope of the certification has been reduced for reasons other than changes in the experience factors underlying the disciplined current scale. If nonguaranteed elements illustrated for new policies are not consistent with those illustrated for similar in force policies, this shall be disclosed in the annual certification. If nonguaranteed elements illustrated for both new and in force policies are not consistent with the non-guaranteed elements actually being paid, charged or credited to the same or similar forms, this shall be disclosed in the annual certification. Ins 2.17(10)(c)6.6. Disclose in the annual certification which of the following methods is used to allocate overhead expenses for all illustrations: