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Individual Variable Insurance Contracts Relating To Segregated Funds

Release Date: 03/21/2014
Staff Reference: James Wood

Guideline G2

The CLHIA Guideline G2, Individual Variable Insurance Contracts Relating to Segregated Funds, establish industry standards including standards for:

• advertising disclosure;
• pre-sale disclosure requirements;
• contract disclosure, including minimum contractual terms;
• contractholder rights;
• audit and accounting requirements;
• investment disclosure;
• minimum investments standards;
• corporate governance of segregated funds;
• partitioning of assets held in segregated funds;
• closing of segregated funds, and
• fundamental changes to and merger of segregated funds.