Section 45-04-04-07 - Applications The application for a variable life insurance policy must 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. N.D. Admin Code 45-04-04-07
General Authority: NDCC 26.1-33-17, 26.1-34-11
Law Implemented: NDCC 26.1-33, 26.1-34