1899-S.E AAS 4/11/97

ESHB 1899 - S COMM AMD

    By Committee on Financial Institutions, Insurance & Housing

                                                   ADOPTED 4/11/97

    On page 11, line 35, after "(3)" insert "(a) Where a computer screen illustration is used that cannot be printed out during use, the producer shall certify in writing on a form provided by the insurer that a computer screen illustration was displayed.  Such form shall require the producer to provide, as applicable, the generic name of the policy and any riders illustrated, the guaranteed and non-guaranteed interest rates illustrated, the number of policy years illustrated, the initial death benefit, the premium amount illustrated and the assumed number of years of premiums.  On the same form the applicant shall acknowledge that an illustration matching that which was displayed on the computer screen will be provided no later than the time of policy delivery.  A copy of this signed form shall be provided to the applicant at the time it is signed.

    (b) If the policy is issued, a basic illustration conforming to the policy as issued shall be sent with the policy and signed by the policy owner no later than the time the policy is delivered.  A copy shall be provided to the policy owner and retained by the insurer.

    (c) If a computer screen illustration is used that can be printed during use, a copy of that illustration, signed in accordance with this chapter, shall be submitted to the insurer at the time of policy application.  A copy shall also be provided to the applicant.

    (d)"

                            --- END ---

EFFECT: Provides a system for allowing the use of lap-top computers to provide illustrations even if they don't have printing capability, so long as the person purchasing the policy is provided a copy of the illustration by the time the policy is issued.