Ga. Comp. R. & Regs. 120-2-32-.09

Current through Rules and Regulations filed through June 17, 2024

Rule 120-2-32-.09 - 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.

Ga. Comp. R. & Regs. R. 120-2-32-.09

O.C.G.A. Secs. 33-2-9, 33-11-36.

Original Rule entitled "Applications" adopted. F. Oct. 18, 1979; eff. Nov. 7, 1979.

Repealed: New Rule of same title adopted. F. Oct. 2, 1985; eff. Dec. 1, 1985, as specified by the Agency.

Submitted for Publishing: Apr. 6, 2007.