Purpose and Applicability

Section 1411.10  Purpose and Applicability The purpose of this Part is to supplement the Department’s existing regulations on life insurance policies with standards and requirements specifically applicable to all individual and group universal life insurance policies and group certificates except variable universal life policies and group certificates.  It establishes minimum standards for reserve valuation and cash surrender values, as well as mandatory policy provisions, including a periodic policy status report to the policyowner or group certificateholder.