1. (1) The following information shall be furnished to a variable contract applicant before the applicant executes the application:

   1. (a) a summary description of the insurer and the insurer's principal activities;

   2. (b) a summary explanation of the following, in non-technical terms:

      1. (i) the contract's principal variable features; and
      2. (ii) how the variable benefits reflect the separate account's investment experience;
   3. (c) a brief description of the investment policy for the separate account regarding the contract;
   4. (d) a list of the separate account's investments beginning no earlier than the end of the last year that the insurer filed an annual statement with the commissioner of the insurer's domicile state; and

   5. (e) a financial statement summary of the insurer and the separate account:

      1. (i) based upon the last annual statement the insurer filed with the commissioner; or
      2. (ii) for a period of four months after the insurer filed the last annual statement.
2. (2) The insurer may include additional information.

KEY: variable insurance

Date of Last Change: May 11, 2022

Notice of Continuation: December 8, 2021

Authorizing, and Implemented or Interpreted Law: 31A-2-201; 31A-20-106