New York Codes, Rules and Regulations
Title 11 - INSURANCE
Chapter III - Policy and Certificate Provisions
Subchapter A - Life, Accident and Health Insurance
Part 46 - Unemployment Lapse Protection Benefit For Life Insurance
Section 46.6 - Optional individual and group life coverage, disclosure of cost

Universal Citation: 11 NY Comp Codes Rules and Regs ยง 46.6

Current through Register Vol. 46, No. 39, September 25, 2024

(a) In the case of an individual policy or a certificate issued under a group life insurance policy other than a noncontributory policy, the unemployment lapse protection benefit shall be offered only as an optional benefit.

(b) The identifiable charge for the unemployment lapse protection benefit shall be set forth separately from all other premiums/charges in the application and the policy and certificate schedule pages and, if applicable, the rider and endorsement forms.

(c) Where the unemployment lapse protection benefit is offered as a rider or endorsement to in-force coverage, the rider or endorsement or schedule shall set forth the effective date of the unemployment lapse protection benefit.

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