Rule 120-2-32-.09. Applications

The application for a variable life insurance policy shall contain:

1. (1) a prominent statement that the death benefit may be variable or fixed under specified conditions;
2. (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. (3) questions designed to elicit information which enables the insurer to determine the suitability of variable life insurance for the applicant.

Submitted for Publishing: Apr. 6, 2007.

Authority: O.C.G.A. Secs. 33-2-9, 33-11-36.

History. Original Rule entitled "Applications" adopted. F. Oct. 18, 1979; eff. Nov. 7, 1979.

Repealed: New Rule of same title adopted. F. Oct. 2, 1985; eff. Dec. 1, 1985, as specified by the Agency.