New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter III - Policy and Certificate Provisions
Subchapter A - Life, Accident and Health Insurance
Part 42 - Term Life Issuance And Renewal Restrictions; Nonforfeiture Values For Certain Life Insurance Policies
Subpart 42-2 - Term Life Issuance And Renewal Restrictions; Nonforfeiture Values For Certain Life Policies Issued On Or After January 1, 2008
Section 42-2.12 - Term policy maximum age
Universal Citation: 11 NY Comp Codes Rules and Regs ยง 42-2.12
Current through Register Vol. 46, No. 39, September 25, 2024
No policy of term life insurance shall be issued, renewed or continued beyond the last age in the mortality table for which minimum nonforfeiture values for whole life insurance are determined at the time of the term policy's issue. For a joint life first to die policy, this limitation is applied to the oldest age. For a joint life last to die policy this limitation is applied to the youngest age.
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