Plain Text Law

Regulation .08 Applications.

Regulation .08 Applications.Copy Citation

The application for a variable life insurance policy shall contain:
A.
A prominent statement that the death benefit may be variable or fixed under specified conditions;
B.
A prominent statement that cash values may increase or decrease in accordance with the experience of the separate account (subject to any specified minimum guarantees);
C.
Questions designed to elicit information which enables the insurer to determine the suitability of variable life insurance for the applicant.