11 NCAC 12 .0440             APPLICATIONS

The application for a variable life insurance policy shall contain:

(1)        a prominent statement that the death benefit may be variable or fixed under specified conditions;

(2)        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);

(3)        questions designed to elicit information which enables the insurer to determine the suitability of variable life insurance for the applicant.

 

History Note:        Authority G.S. 58-2-40(1); 58-7-95;

Eff. January 1, 1978;

Readopted Eff. September 26, 1978.