20-431.05. Supplemental illustrations; requirements
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/az/title-20/20-431-05A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
A. A supplemental illustration may be provided if:
1. The supplemental illustration is appended to, accompanied by or preceded by a basic illustration that complies with this article.
2. The nonguaranteed elements shown are not more favorable to the policyowner than the corresponding elements based on the scale that is used in the basic illustration.
3. The supplemental illustration contains the same statement required of a basic illustration that nonguaranteed elements are not guaranteed.
4. For a policy that has a contract premium, the contract premium underlying the supplemental illustration is equal to the contract premium shown in the basic illustration. For policies that do not require a contract premium, the premium outlay underlying the supplemental illustration must be equal to the premium outlay shown in the basic illustration.
B. The supplemental illustration shall include a notice referring to the basic illustration for guaranteed elements and other important information.