Minnesota Administrative Rules
Agency 120 - Commerce Department
Chapter 2750 - VARIABLE LIFE INSURANCE
ADDITIONAL INFORMATION; FOREIGN COMPANIES; AGENT QUALIFICATIONS
Part 2750.4200 - APPLICATIONS
Universal Citation: MN Rules 2750.4200
Current through Register Vol. 49, No. 13, September 23, 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.
Statutory Authority: MS s 61A.20
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