Code of Maryland Regulations
Title 31 - MARYLAND INSURANCE ADMINISTRATION
Subtitle 09 - LIFE INSURANCE AND ANNUITIES
Chapter 31.09.02 - Variable Life Insurance
Section 31.09.02.08 - Applications
Universal Citation: MD Code Reg 31.09.02.08
Current through Register Vol. 51, No. 19, 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);
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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