Sec. 31.09.02.08. Applications

Latest version.

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.

                    
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