California Code of Regulations
Title 10 - Investment
Chapter 5 - Insurance Commissioner
Subchapter 3 - Insurers
Article 11.1 - Separate Account or Accounts-Variable Life Insurance Contracts
Section 2534.7 - Applications
Universal Citation: 10 CA Code of Regs 2534.7
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
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), and
(c) Questions designed to elicit information which enables the insurer to determine the suitability of variable life insurance for the applicant.
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