Life Insurance Information for Insurers

Insurance Industry page

NOTE: Dates for content are in parentheses following each link.

Agents' Compensation

• Insurer Checklist for Filings Submitted to Demonstrate Compliance with Section 4228 (January, 2012)
• Procedures for Implementing the New Regulation 50 Increases in Agent Training Allowance Maximum Subsidies (10/26/2007)

Alerts!

• Changes in the Market Conduct Profile for the Year 2012 (03/01/2013)
• Special Reports Pursuant To Section 308 Of The New York Insurance Law Relating To Investigating Claims And Locating Beneficiaries With Respect To Death Benefits Under Life Insurance Policies, Annuity Contracts And Retained Asset Accounts (10/26/2011)
• Guidance for Filing Insurance Policy Forms in Accordance with Insurance Law §1113(a)(1)(E) Authorizing the Acceleration of Death Benefits When an Insured Resides in a Nursing Home (04/08/2011)
• Policy Form Informational Filing Requirement for Fund Changes (11/01/2010)
• SERFF Instruction (06/03/2008)

Charitable Annuity Societies

• New! 2012 Annual Statement & Instructions
• Filing Guidance for Changes to Section 1110(a) of the Insurance Law
• Licensing Application (08/04/2008)
• Reserve Requirements (08/24/2012)
• Product Outline (2005)

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Life Settlements

• Guidance for the Filing of Life Settlement Provider Renewal License Applications (04/08/2013)
• 2012 Annual Statement & Instructions
• Life Settlement Act (Word format, 01/26/2010)
• Guidance for the Filing of Life Settlement Forms In Accordance with Section 21(3) and (4) of the Life Settlements Act, Chapter 499 of the Laws of 2009 (04/02/2010)
• Guidance for the Filing of Life Settlement Provider License Applications In Accordance with Section 21(1) of the Life Settlements Act, Chapter 499 of the Laws of 2009 (Rev. 05/13/2010)
• Entities That May Currently Operate As Life Settlement Providers in New York (03/29/2013)

Market Conduct

Market Conduct Profile

• Circular Letter #20 (2005) - Market Conduct Profile
• New! Changes in the Market Conduct Profile for the Year 2012 (03/01/2013)
• New! Market Conduct Profile (2012 version, WORD format)
• Market Conduct Profile (2011 version, PDF format)
• Market Conduct Profile (2009 - 2010 version, PDF format)
• Market Conduct Profile (2007 - 2008 version, PDF format)
• Market Conduct Profile (2005 - 2006 version, PDF format)
• Market Conduct Profile Instruction: "Trusted Source" Requirement
• Out of State Forms Instructions per item 11 of the Marketing and Sales Activities Section on the Market Conduct Profile (WORD format)

Regulation 60

• Unnecessary Requirements Placed On Replacing Insurers By Replaced Insurers (09/24/2007)
• Circular Letters and General Counsel Opinions
• Final Adoption of Regulation 60 - Replacement of Life Insurance Policies and Annuity Contracts (PDF Format)
  • Disclosure Statement Completion Instructions for Appendix 10A
  • Annuity Disclosure Statement Definitions and Completion Instructions for Appendix 10B
  • First Amendment to Regulation 60 (PDF Format)

    The forms presented in this amendment are not the correct font size and are not to be used when completing a "Disclosure Statement" required by Department Regulation No. 60.

• Circular Letter #5 (2006): Regulation No. 60 Electronic Reporting
  • Regulation No. 60 Reporting Form (Excel Format, 01/11/2010)
  • Reporting Instructions (PDF Format)
• Circular Letter #6 (2006): Contact Information for Replacement Notification and Disclosure Statements
  • Contact Look-up
  • Change Your Contact Information

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Product Outlines & Guidance

Outlines and Checklists

• Life Products Outlines and Checklists (05/03/2013)
• Summary of Changes to Product Outlines (06/30/2010)
• Certification Procedure Under Circular Letter No. 6 (2004) (Effective September 1, 2004 - 08/23/2004)

  NOTE: The policy form compliance certification for the Circular Letter No. 6 (2004) process has been updated to reference the Department of Financial Services due to the October 3, 2011 consolidation of the New York Insurance and Banking Departments.

  • Policy Form Compliance Certification "Attachment 1" (PDF Format)
  • Policy Form Compliance Certification "Attachment 1" (Word Format)
  • Circular Letter No. 6 (2004)

Filing Guidance

• Important Notice regarding Sampling of Files submitted under the Circular Letter No. 6 (2004) Certification Procedure (3/12/2013)
  • Optional Supplemental Policy Form Compliance Certification (Word format)
• Procedural Checklist to Avoid Common Submission Errors when Filing a Memorandum of Variable Material (07/09/2012)
• Filing Guidance for Changes to MIB, Inc. Authorization Forms (01/13/2012)
• Important Notice regarding Filing Guidance for Universal Life Insurance with Secondary Guarantees (03/08/2013)
• Guidance for Filing Insurance Policy Forms in Accordance with Insurance Law §1113(a)(1)(E) Authorizing the Acceleration of Death Benefits When an Insured Resides in a Nursing Home (04/08/2011)
• Filing Guidance on Changes in the Investment Options of a Separate Account for Group and Individual Variable Products (11/01/2010)
• Additional Guidance on Variable Material for Individual Products (11/01/2010)
• Guidance for Filings made to comply with Supplement No. 1 to Circular Letter 27 (2008)
• Guidance on Circular Letter No. 6 (2004) filings
• Guidance for Guaranteed Paid-up Deferred Annuities (03/13/2009)
• Guidance on Dividend Disclosure under 3209(b)(2)(C) for Equity Indexed Annuity Contracts and Life Insurance Policies (10/31/2008)
• Guidance for Illustrations of Variable Annuity Contracts (10/16/2008)
• Guidance for Life Insurance Policy Illustrations (08/22/2008)
• Equity Index Annuities - Change to Section 4223 of the Insurance Law effective October 5, 2008 (07/17/2008)
• Electronic Version Readability Certification Form (Flesch) (Word format, 01/15/2008)
  • Readability Form Part 1 (PDF Format)
  • Readability Form Part 2 (Word Format)
  • Department February 18, 1982 letter (PDF Format)
• Filings for First Amendment to Regulation 149 (PDF format, 11/20/2007)
• Filing Guidance for Combination Life and Accident & Health Submissions (PDF format, 11/15/2007)
• Equity-Index Products - Guidance for product design (PDF format, 10/31/2007)
• Maturity Date of Whole Life Policies (PDF format, 05/01/2007)
• Section 4228(h) Statements of Selfsupport for Multiple Term Life Insurance Plans (PDF format, 07/28/2006)
• Procedure and Filing Guidance for Approval of Memorandum of Variable Material (PDF format, 09/16/2005)
• Filing Guidance For Making Address Changes, Name Changes and Merger/Name Changes (09/02/2005)
• Annuity Nonforfeiture Interest Rate - Filing Guidance on Changes to Section 4223(c)(2)(C) of the Insurance Law Effective May 15, 2005 (03/23/2005)
• SERFF Submission to the Life Bureau (07/27/2012)
• Triage Procedure for Policy Form Submissions (09/01/2004)
• Fixed Account Availability Restrictions (12/04/2003)
• Filing Guidance on The Recent Changes to Section 4221 (o)(1)(F) of The Insurance Law (Term Insurance) (01/06/2003)
• Expedited Review Procedure for Economic Growth and Tax Relief Reconciliation Act of 2001 Filings
• War Exclusions and Restrictions (10/17/2003)

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Regulations

Emergency Regulations

• Regulation 56 – Valuation of Individual and Group A&H Insurance Reserves (PDF Format)
• Regulation 147 – Valuation of Life Insurance Reserves (PDF Format)

Adoptions

• Regulation 77 - Variable Life Insurance (PDF format)
• Regulation 143 – Accelerated Payment of the Death Benefit under a Life Policy (PDF Format)
• Regulation 147 – Valuation of Life Insurance Reserves (PDF Format)
• Regulation 151 – Valuation Of Annuity, Single Premium Life Insurance, Guaranteed Interest Contract And Other Deposit Reserves (PDF Format)
• Regulation 179 – Recognition Of The 2001 CSO Mortality Table For Use In Determining Minimum Reserve Liabilities And Nonforfeiture Benefits
  • Gender Blended Tables (Excel Format)
  • Non-Gender Blended Tables (Excel Format)

Proposals

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Industry-Wide Letters

• Certifications and notifications pursuant to subsection 53-3.7 of Regulation 74 (09/09/2009)
• Use of the 2001 CSO Mortality Table for Nonforfeiture purposes for: Policies subject to Section 4221(n-1) of the New York Insurance Law; And Policies subject to Regulation 77 (PDF Format, 03/23/2005)
• Requirements for using the 2001 CSO Mortality Table (PDF Format, 12/13/2004)

Reserves & Solvency

• Life Bureau Reserve Section: Industry Letters & Surveys and Valuation Year-End Forms and Instructions
  • For Domestic Life Insurers and Domestic Fraternal Organizations (03/08/2013)
  • For Foreign Life Insurers, Foreign Fraternals and Accredited Reinsurers (03/08/2013)
• Maximum Reserve Valuation and Maximum Life Policy Nonforfeiture Interest Rate (08/15/2012)
• Important Notice regarding Filing Guidance for Universal Life Insurance with Secondary Guarantees (03/08/2013)

Updated 05/03/2013