1. (1) An insurer submitting a variable life insurance filing shall comply with:

   1. (a) Section 31A-22-411; and
   2. (b) Rule R590-133.

2. (2) An insurer submitting a variable life insurance policy shall certify it has:

   1. (a) a variable contract line of authority; and
   2. (b) a separate account established in the state of domicile.

3. (3) Actuarial Memorandum. An actuarial memorandum shall:

   1. (a) be included in a variable life insurance filing;
   2. (b) describe the type of accounts available in the policy, identifying the accounts that are separate accounts, including modified guaranteed accounts, and general accounts;

   3. (c) demonstrate nonforfeiture compliance for:

      1. (i) separate accounts pursuant to Section 31A-22-411; and
      2. (ii) fixed interest general accounts pursuant to Section 31A-22-408;

   4. (d) identify a fixed account's:

      1. (i) guaranteed minimum interest rate; and
      2. (ii) maximum surrender charge; and
   5. (e) include a certification of compliance with applicable nonforfeiture and valuation laws by a qualified actuary.

KEY: life insurance filings

Date of Last Change: April 21, 2023

Notice of Continuation: March 7, 2024

Authorizing, and Implemented or Interpreted Law: 31A-2-201; 31A-2-201.1; 31A-2-202