North Dakota § 26.1-33-16 Policy provisions exceptions for variable life contracts

North Dakota Statutes

§ 26.1-33-16 — Policy provisions exceptions for variable life contracts

North Dakota·Title 26.1 Insurance·Ch. 26.1-33 Life Insurance

Except for subsections 2, 6, 7, 8, and 10 of section 26.1-33-05, and except as otherwise
provided in sections 26.1-33-13 through 26.1-33-15, all pertinent provisions of this title apply to
separate accounts and variable life insurance contracts. Any individual variable life insurance
contract, delivered or issued for delivery in this state, must contain grace, reinstatement, and
nonforfeiture provisions appropriate to the contract. The reserve liability for variable contracts
must be established in accordance with actuarial procedures that recognize the variable nature
of the benefits provided and any mortality guarantees.

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Except for subsections 2, 6, 7, 8, and 10 of section 26.1-33-05, and except as otherwise
provided in sections 26.1-33-13 through 26.1-33-15, all pertinent provisions of this title apply to
separate accounts and variable life insurance contracts. Any individual variable life insurance
contract, delivered or issued for delivery in this state, must contain grace, reinstatement, and
nonforfeiture provisions appropriate to the contract. The reserve liability for variable contracts
must be established in accordance with actuarial procedures that recognize the variable nature
of the benefits provided and any mortality guarantees.

North Dakota § 26.1-33-16 (Policy provisions exceptions for variable life contracts) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.