Sections 375.1500 to 375.1527 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) Policies written by a company with less than twenty-five million dollars in annual direct written life insurance premiums;
(5) Life insurance policies with no illustrated death benefits on any individual exceeding ten thousand dollars;
(6) Life insurance policies containing guaranteed elements exclusively; or
(7) Single premium policies.