(a) This part applies to all group and individual life insurance policies and certificates except:
- (1) Variable life insurance;
- (2) Individual and group annuity contracts;
- (3) Credit life insurance; or
- (4) Life insurance policies with no illustrated death benefits on any individual exceeding $10,000.
- (b) If an illustration is required to be used in the sale of a policy under this part, the insurer shall not be required to also provide a policy summary under Ins 301.
Source. #7195, eff 4-1-00, EXPIRED: 4-1-08 New. #9401, eff 3-9-09; ss by #12097, eff 3-9-17