N.M. Admin. Code § 13.9.8.16 - FILING OF VARIABLE LIFE INSURANCE POLICIES
All variable life insurance policies, and all 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 the superintendent and approved by him prior to delivery or issuance for delivery in this state.
A. The procedures and requirements for such
filing and approval shall be, to the extent appropriate and not inconsistent
with this article, the same as those otherwise applicable to other life
insurance policies.
B. The
superintendent may approve variable life insurance policies and related forms
with provisions the superintendent deems to be not less favorable to the
policyholder and the beneficiary than those required by 13 NMAC 9.8.15, 9.8.16,
9.8.17, 9.8.18, 9.8.19 and 9.8.20 [now Sections 15, 16, 17, 18, 19 and 20 of
13.9.8 NMAC].
Notes
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