Arizona § 20-431.05 Supplemental illustrations; requirements

Arizona Statutes

§ 20-431.05 — Supplemental illustrations; requirements

Arizona § 20-431.05

Title 20Arizona Revised Statutes

Ch. 2TRANSACTION OF INSURANCE BUSINESS

Art. 5.Life Insurance Illustrations

This text of Arizona § 20-431.05 (Supplemental illustrations; requirements) is published on Counsel Stack Legal Research, covering Arizona primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ariz. Rev. Stat. Ann. § 20-431.05 (2026).

Text

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

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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.