A.R.S. § 20-2608: Variable life insurance policy application requirements

A variable life insurance policy application shall contain all of the following:

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 according to the investment experience of the separate account.

3. Questions that enable the insurer to determine the suitability of variable life insurance for the applicant.