Iowa Admin. Code r. 191-33.8

Current through Register Vol. 47, No. 8, October 30, 2024

Rule 191-33.8 - 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 enable the insurer to determine the suitability of variable life insurance for the applicant.

Iowa Admin. Code r. 191-33.8