23 CAR § 93-602. Application requirements

The application for a variable life insurance policy 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); and (3) Questions designed to elicit information that enables the insurer to determine the suitability of variable life insurance for the applicant.