The application for a variable life contract shall contain:
- (1) a prominent statement that the death benefit may be variable or fixed under specified conditions;
- (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) questions designed to elicit information which enables the insurer to determine the suitability of variable life insurance for the applicant.
Source Note:The provisions of this §4.1508 adopted to be effective June 5, 1985, 10 TexReg 1676; transferred effective September 1, 2023, as published in the July 28, 2023, issue of the Texas Register, 48 TexReg 4127.