When Should You Request an In-Force Illustration?
Plain-English definition: An updated illustration beginning with an existing policy's current values, charges, loans and assumptions.
Testing a policy after a loan or lower crediting
Updating the outlook after policy performance changes
After a loan and lower credited performance, an owner requests current and reduced-assumption versions to see when more premium may be needed.
A current projection for coverage already in force
An in-force illustration starts with an existing policy's current position and projects values under stated assumptions. It helps test whether the original funding plan still supports the objective.
Match the projection to actual payments
- Confirm current values and loan balances
- Request guaranteed and current scenarios
- Match the premium schedule to what will actually be paid
An in-force illustration is not a new-policy proposal
An in-force illustration updates an existing policy. A new-business illustration accompanies a proposed policy before issue.
Use current records to review policy durability
Use life insurance in-force illustrations to see how this definition affects a real policy decision.
Terms to read alongside in-force illustration
Sources for understanding in-force illustration
This page explains general insurance usage. State law, the issued contract and the insurer's current records control a specific policy. Use the sources below to verify general terminology, then check the exact policy language.