New Mexico Administrative Code
Title 13 - INSURANCE
Chapter 9 - LIFE INSURANCE AND ANNUITIES
Part 8 - VARIABLE LIFE INSURANCE
Section 13.9.8.35 - APPLICATIONS
Universal Citation: 13 NM Admin Code 13.9.8.35
Current through Register Vol. 35, No. 6, March 26, 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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