C.M.R. 02, 031, ch. 300, art. X

Current through 2025-03, January 15, 2025

Article X - 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); and

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

C.M.R. 02, 031, ch. 300, art. X