An original sales illustration shows assumptions made at a particular time. A current in-force review asks how an existing policy is operating now, including premiums, loans, withdrawals and any conditions necessary to preserve guarantees.
California's insurance guide distinguishes guaranteed illustration results from nonguaranteed assumptions. Treat the columns separately rather than reading a projected value as a promise.
Prepare a current review packet
| Record | What to compare | Question to resolve |
|---|---|---|
| Issued policy | Guarantees and conditions | Which requirements keep the guarantee effective? |
| Current statement | Actual values and balances | Does it include all recent transactions? |
| In-force illustration | Current funding assumptions | What premium and transaction pattern was assumed? |
| Guaranteed column | Contractual result under stated conditions | Which conditions must continue to be met? |
| Nonguaranteed column | Assumed interest, dividends or charges | What could change? |
| Loans and withdrawals | Current and proposed amounts | How do they affect continuation and benefits? |
Ask for an explanation of any projected lapse or need for additional funding. A planned premium, current billing amount and premium required to maintain a particular guarantee may answer different questions. The actual policy controls.
Compare consistent scenarios
Request illustrations using clearly identified assumptions. For example, compare the current payment pattern with a separately labeled proposed pattern. Keep any proposed withdrawal or loan identical across the scenarios unless its effect is the question being studied.
Identify the issue date, current policy year and illustration preparation date. Do not compare a first-year sales example with a later in-force result without accounting for elapsed years and transactions. Ask the insurer to reconcile an unexplained difference.
Decide what still needs confirmation
Record the premium due date, any pending notice and who will answer unresolved questions. If a representative says coverage will last for life, ask which actual guarantee and funding conditions support that statement.
A review does not authorize replacement, surrender or borrowing. Consider those actions separately, including underwriting, charges, tax consequences and changes in rights. Keep the accepted policy records and dated written explanations together so that the next review starts with verified information rather than an old projection.
Related reading
Start with the family coverage overview. Continue with policy ownership and assignment records or browse the learning topics.
Browse federal benefits, retirement and insurance topics or read how we prepare and check our guides.
Sources
- California DOI: Life Insurance Guide, checked November 4, 2026
- NAIC: Life Insurance, checked November 4, 2026
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