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2020 Montana Code Annotated
Title 33. Insurance and Insurance Companies
Chapter 20. Life Insurance
Part 6. Variable Contracts
33-20-604. Contract to contain statement of essential features
Universal Citation: MT Code § 33-20-604 (2020)
33-20-604. Contract to contain statement of essential features. A contract providing benefits payable in variable amounts delivered or issued for delivery in this state must contain a statement of the essential features of the procedures to be followed by the insurer in determining the dollar amount of the variable benefits. A contract under which the benefits vary to reflect investment experience, including a group contract and a certificate evidencing the variable benefits issued thereunder, must state that the dollar amount will vary and must contain on its first page a statement to the effect that the benefits thereunder are on a variable basis.
History: En. Sec. 3, Ch. 112, L. 1989.
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