Utah Administrative Code
Topic - Insurance
Title R590 - Administration
Rule R590-133 - Variable Contracts
Section R590-133-9 - Disclosure
Universal Citation: UT Admin Code R 590-133-9
Current through Bulletin 2024-06, March 15, 2024
(1) The following information shall be furnished to a variable contract applicant before the applicant executes the application:
(a) a
summary description of the insurer and the insurer's principal
activities;
(b) a summary
explanation of the following, in nontechnical terms:
(i) the contract's principal variable
features; and
(ii) how the variable
benefits reflect the separate account's investment
experience;
(c) a brief
description of the investment policy for the separate account regarding the
contract;
(d) a list of the
separate account's investments beginning no earlier than the end of the last
year that the insurer filed an annual statement with the commissioner of the
insurer's domicile state; and
(e) a
financial statement summary of the insurer and the separate account:
(i) based upon the last annual statement the
insurer filed with the commissioner; or
(ii) for a period of four months after the
insurer filed the last annual statement.
(2) The insurer may include additional information.
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