Monday, August 14, 2006
New York Proposes UL Reserve Rule Update
Empire State regulators say they want to stop life insurers from using tricky policy designs to lower policy reserve requirements.
The New York State Insurance Department has proposed an amendment to Regulation Number 147 that would tighten reserving requirements for certain types of universal life insurance products that come with secondary guarantees, such as provisions that keep premiums level for a set number of years or provisions that let policyholders “catch up” on the payments needed to keep coverage in force.
New York Proposes UL Reserve Rule Update
Source: National Underwriter (subscription required)
The New York State Insurance Department has proposed an amendment to Regulation Number 147 that would tighten reserving requirements for certain types of universal life insurance products that come with secondary guarantees, such as provisions that keep premiums level for a set number of years or provisions that let policyholders “catch up” on the payments needed to keep coverage in force.
New York Proposes UL Reserve Rule Update
Source: National Underwriter (subscription required)
Permalink posted by armandn @ 10:25 AM 
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