NDAC 45-04-04-07
Applications
Cite as N.D. Admin. Code § 45-04-04-07
The application for a variable life insurance policy must 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.