760 Ind. Admin. Code 1-33-8

Current through December 12, 2024

Section 760 IAC 1-33-8 - Application for policy

Authority: IC 27-1-3-7

Affected: IC 27-1-12-7

Sec. 8.

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.

760 IAC 1-33-8

Department of Insurance; 760 IAC 1-33-8; filed Mar 29, 1985, 1:46 pm: 8 IR 1024; readopted filed Sep 14, 2001, 12:22 p.m.: 25 IR 531; readopted filed Nov 27, 2007, 4:01 p.m.: 20071226-IR-760070717RFA; readopted filed November 26, 2013, 3:43 p.m.: 20131225-IR-760130479RFA

Readopted filed 11/19/2019, 9:18 a.m.: 20191218-IR-760190497RFA