31A-22-631. Policy summary or illustration.
(1) Except as provided in Subsection, at the time a life insurance policy is delivered, a policy summary or illustration shall be delivered for the life insurance policy if: (1)(b) the life insurance policy includes riders or supplemental benefits, including accelerated benefits; and receipt of benefits under the life insurance policy is contingent upon morbidity requirements. In the case of a direct response solicitation, the insurer shall deliver the policy summary or illustration at the sooner of: the applicant's request; or at the time of policy delivery regardless of whether the applicant requests a policy summary or illustration.
(2) In addition to complying with all applicable requirements, the policy summary or illustration shall include: a clear and prominent disclosure of how the rider or supplemental benefit interacts with other components of the policy, including deductions from death benefits and policy values; an illustration for each covered person of: the amount of benefits; the length of benefits; and the guaranteed lifetime benefits, if any; a disclosure of the maximum premiums for the rider or supplemental benefit; any exclusions, reductions, or limitations on the benefits of the rider or supplemental benefit; and if applicable to the policy type: a disclosure of the effects of exercising other rights under the policy; and guaranteed maximum lifetime benefits.