Section 82.22. Filing of variable life insurance policies

(a) Variable life insurance policies and riders, endorsements, applications and other documents which are to be attached to and made a part of the policy and which relate to the variable nature of the policy shall be filed with and approved by the Commissioner prior to delivery or issuance for delivery in this Commonwealth.

(b) The procedures and requirements for the filing and approval shall be, to the extent appropriate and not inconsistent with this chapter, the same as those otherwise applicable to other life insurance policies.

(c) The Commissioner may approve variable life insurance policies and related forms with provisions the Commissioner deems to be not less favorable to the policyholder and the beneficiary than those required by this chapter.

The provisions of this § 82.22 adopted August 4, 1978, effective September 5, 1978, 8 Pa.B. 2171; amended April 28, 1989, effective April 29, 1989, 19 Pa.B. 1835; corrected June 30, 1989, effective retroactive to April 29, 1989, 19 Pa.B. 2754. Immediately preceding text appears at serial page (137038).

Notation

Cross References

This section cited in 31 Pa. Code § 82.21 (relating to insurance policy qualification).