News

On May 8, the Compact Office issued a Weekly Tip regarding the status of ancillary non-insurance benefit forms/provisions informing filers that the Compact would no longer be reviewing for approval these types of forms or provisions. This Tip provides additional clarifying guidance regarding these types of forms/provisions. The May 8 Tip is applicable for individual life and annuity forms. Long-term care and disability income filings have additional considerations with respect to specific benefits because of existing Uniform Standards provisions addressing additional benefit features, rehabilitation benefits, and the like. Additionally, any previous form or language approvals, regardless of product line, are not impacted by the guidance issued May 8. As with any Compact-approved product, the filing company is responsible for complying with state requirements or restrictions on the marketing, sales and administration of Compact-approved forms/benefits.