REMINDER: Addressing the Suicide Exclusion Period Amendments
October 3rd is fast approaching. This is the date on which companies issuing Compact-approved products must comply with the amendments to the suicide exclusion provision in the individual and group life Uniform Standards. When the Commission made this amendment in 2022, they decided it would apply to Compact-approved products still being issued on and after October 3, 2023. The Insurance Compact is reissuing the Weekly Tip from February 17, 2023 as a reminder which includes a link to the Filing Information Notice 2023-1 for detailed filing instructions on how to make this amendment. Today is August 3rd, which is two months from the deadline for new issues of previously approved Compact products. Please get these amendments on file as soon as possible to avoid disruptions in your product availability.
If you have any questions regarding this process, please contact the Compact Office and/or submit a pre-filing communication form.