What information is NOT required on an illustration used for selling a life insurance policy?

In an illustration used for selling a life insurance policy, the name of the beneficiary is not a required piece of information. The primary purpose of an illustration is to provide detailed information about the policy, including the projected benefits, premium payments, coverage amount, and other significant factors that influence the policyholder's decision.

While the name of the insured, proposed premium amount, and coverage amount are critical components that help prospective buyers understand the terms and expected performance of the policy, the beneficiary's name is not necessary at this stage. The beneficiary can be designated after the policy is purchased, and since the illustration serves more to show how the policy works rather than the final details, it is sufficient to leave out specific beneficiary information. Thus, focusing on the essential elements of the policy allows the illustration to serve its purpose effectively in the selling process.