Sec.38a-433-8. Applications  


Latest version.
  • The application for a variable life insurance policy shall contain:

    (1) a prominent statement that the death benefit may be variable or fixed under specified conditions;

    (2) 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);

    (3) questions designed to elicit information which enables the insurer to determine the suitability of variable life.

(Effective September 25, 1992)