All variable life insurance policies, and all riders, endorsements, applications and other documents which are to be attached to and made a part of the policy and which relate to the variable nature of the policy, shall be filed with the superintendent and approved by him prior to delivery or issuance for delivery in this state.

1. A. The procedures and requirements for such filing and approval shall be, to the extent appropriate and not inconsistent with this article, the same as those otherwise applicable to other life insurance policies.

2. B. The superintendent may approve variable life insurance policies and related forms with provisions the superintendent deems to be not less favorable to the policyholder and the beneficiary than those required by 13 NMAC 9.8.15, 9.8.16, 9.8.17, 9.8.18, 9.8.19 and 9.8.20 [now Sections 15, 16, 17, 18, 19 and 20 of 13.9.8 NMAC].

   [12/1/85; Recompiled 11/30/01]