376.702. 1. Except as hereafter exempted, sections 376.700 to 376.714 shall apply to any solicitation, negotiation or procurement of life insurance occurring within this state. Sections 376.700 to 376.714 shall apply to every issuer of life insurance contracts including fraternal benefit societies.
2. Unless otherwise specifically included, the provisions of sections 376.700 to 376.714 shall not apply to:
(1) Annuities;
(2) Credit life insurance;
(3) Group life insurance;
(4) Life insurance policies issued in connection with pension and welfare plans as defined by and which are subject to the federal Employee Retirement Income Security Act of 1974 (ERISA); or
(5) Variable life insurance under which the death benefits and cash values vary in accordance with unit values of investments held in a separate account.
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