New York State seal

March 1, 1929

SUBJECT: INSURANCE

WITHDRAWN

The following is an excerpt from a Circular Letter issued by Superintendent of Insurance Albert Conway. It is currently in effect.

March 1, 1929

Dear Sirs:

Re: Proportion of Premiums to be Paid by Employees under Group Life Insurance Policies

This is to advise that hereafter group life policy forms will be approved which provide for the payment of at least twenty-five per cent (25%) of the premiums by the employer, or which provide for the following maximum payments by employees:

Rate at Which

Maximum Contribution from

Policy is Written

Employees Per Thousand

     
 

Monthly

Weekly

Standard

60 cents

14 cents

Standard plus $ 1.00

70 cents

16 cents

Standard plus $ 2.00

75 cents

17 cents

Standard plus $ 3.00 or more

80 cents

18 cents

The above ruling supersedes the ruling contained in Section 6 of this Department's letters of June 11th and 12th, 1926, to the group writing companies.