191—15.53 (507B) Exemptions. These rules apply to all group and individual life insurance policies and certificates except:
	  1. 	 Variable life insurance;
	  2. 	 Individual and group annuity contracts;
	  3. 	 Credit life insurance;
	  4. 	 Group or individual policies of life insurance issued to members of an employer group or other permitted group when:
	  ● 	 Every plan of coverage was selected by the employer or other group representative;
	  ● 	 Some portion of the premium is paid by the group or through payroll deduction; and
	  ● 	 Group underwriting or simplified underwriting is used; and
	  5. 	 Policies and certificates where an illustration has been provided pursuant to the requirements of 191—Chapter 14