Md. Code Regs. 31.09.02.08

Current through Register Vol. 51, No. 24, December 2, 2024

Section 31.09.02.08 - Applications

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.

Md. Code Regs. 31.09.02.08