- (a) All variable life insurance policies and all riders, endorsements, applications, and other documents that are to be attached to be made a part of the policy and that relate to the variable nature of the policy shall be filed with the Insurance Commissioner and approved by him or her prior to delivery or issuance for delivery in this state.
- (b) The procedures and requirements for such filing and approval shall be, to the extent appropriate and not inconsistent with this part, the same as those otherwise applicable to other life insurance policies.
- (c) The commissioner may approve variable life insurance policies and related forms with provisions the commissioner deems to be not less favorable to the policyholder and the beneficiary than those required by this part.