LAC 37:XIII.8313 – Applications

A. 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.

AUTHORITY NOTE: Promulgated in accordance with Title 22, Section 2 of the Insurance Laws of Louisiana.

HISTORICAL NOTE: Promulgated by the Department of Insurance, Commissioner of Insurance, LR 11:701 (July 1985).