Record Adopted Standards

Record Adopted Standards

Listed below are the Uniform Standards and Operating Procedures pending action by the Commission.
Please click the "+" button to the left of each standard name to view details about the proposed rule.

Index of Available Uniform Standards
Index of Adopted Operating Procedures

Click on the link above to find a particular Uniform Standard.
More information related to the Uniform Standards and their Standard History may be found below in the Record.

 

UNIFORM STANDARDS - INDIVIDUAL

Click to Expand INDIVIDUAL APPLICATION
Citation NumberName of Standard/ProcedureEffective Date
IIPRC-A-I-APP

Standard Checklist

Individual Annuity Application Standards Mar 5, 2015
Standard History

Subject Matter of Proposed Rule:  The Individual Annuity Application Standards (the "Proposed Standards) apply to paper, telephonic or electronic applications for coverage provided by individual annuity contract forms; and to new business applications as well as applications used to request changes to existing contracts.

Citation to Published Notices: Notice of this Rule was published on August 1, 2008.

Name of persons requesting Public Hearing : Director Mary Jo Hudson, Ohio

Date and Location of Public Hearing, if any: October 27, 2008 via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until September 30 , 2008. Written requests for a public hearing must be received no later than August 21, 2008.

Date Approved by Management Committee: October 27, 2008

Date Adopted by Commission: October 29, 2008

Effective Date of Rule: February 12, 2009

Original Version: Individual Annuity Application Standards

Link to Comments submitted by members and the public:
Comments received by the Industry Advisory Committee

This rule has been amended.

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted October 2008

Redline Version of Adopted Standard: Conforming Amendments to Individual Annuity Application Standards

Date Amendment Approved by Management committee: December 4, 2009

Date Amendment Adopted by Commission: December 28, 2009 by operation of the Operating Procedure for the Adoption of conforming Amendments to a Uniform Standard.

Effective Date of Rule: January 12, 2010

Information Regarding the Amendment to the Standards:

Subject Matter of Proposed Rule: The purpose is to amend the Individual Annuity Application Standards.  The Conforming Amendments would appear in Section 3 as a new Item G, ?Agreement to Sell or Assign Contract for Which Application is Being Made? and would establish the ability for the application to inquire whether any party to the application has or plans to enter into any agreement to sell or assign ownership of a beneficial interest in the applied-for-contract, and whether any party to the application has ever sold, transferred or assigned an annuity contract, the amendment also permits the application to include a  notice regarding potential state-imposed limitations on the ability to sell, transfer or assign an annuity contract.  The remaining items in Section 3 would be re-numbered accordingly.

Citation to Published Rule: Notice of this rule was published on October 29, 2009

Name of persons requesting Public Hearing: None.

Date and Location of Public Hearing, if any: The Rule for the Adoption of Conforming Amendments does not establish a procedure for requesting a public hearing.

Status of Proposed Rule (including upcoming meetings): Adopted

Link to Comments submitted by members and the public: None

Click to Expand 5-Year Review Amendments Adopted November 2014

Redline Version of Adopted Standard: Amendments to Individual Annuity Application Standards

Date Amendment Approved by Management Committee: November 15, 2014

Date Amendment Adopted by Commission: November 15, 2014

Effective Date of Amendment to Rule: March 5, 2015

Information Regarding the 5-Year Review Amendments to the Standards:

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Annuity Application Standards in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.

Citation to Published Notices: Notice of this Rule was published on September 8, 2014.

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Public hearing was held on October 20th during a Management Committee teleconference. 

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until November 7, 2014. Written requests for a public hearing must be received no later than September 28, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

IIPRC-A-I-APP-2

Standard Checklist

Standards for Individual Annuity Application Change Form Mar 5, 2015
Standard History

Subject Matter of Proposed Rule:  The Standards for Individual Annuity Application Change Form (the "Proposed Standards) apply to forms that are used during the underwriting process to make changes to answers that had been provided by the applicant in paper, telephonic or electronic applications for coverage provided by individual annuity contract forms.

Citation to Published Notices:  Notice of this Rule was published on August 1, 2008.

Name of persons requesting Public Hearing : Director Mary Jo Hudson, Ohio

Date and Location of Public Hearing, if any: October 27, 2008 via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until September 30 , 2008. Written requests for a public hearing must be received no later than August 21, 2008.

Date Approved by Management Committee: October 27, 2008

Date Adopted by Commission: October 29, 2008

Effective Date of Rule: February 12, 2009

Link to Comments submitted by members and the public:
Comments received by the Industry Advisory Committee

This rule has been amended.

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted November 2014

Redline Version of Adopted Standard: Amendments to Standards for Individual Annuity Application Change Form

Date Amendment Approved by Management Committee: November 15, 2014

Date Amendment Adopted by Commission: November 15, 2014

Effective Date of Amendment to Rule: March 5, 2015

Information Regarding the 5-Year Review Amendments to the Standards:

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Standards for Individual Annuity Application Change Form in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.

Citation to Published Notices: Notice of this Rule was published on September 8, 2014.

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Public hearing was held on October 20th during a Management Committee teleconference. 

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until November 7, 2014. Written requests for a public hearing must be received no later than September 28, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

 

IIPRC-DI-I-H11-APP

Standard Checklist

Individual Disability Income Insurance Application Standards Montana and Wyoming have opted out of these Uniform Standards. Nov 19, 2018
Standard History
Click to Expand  Five-Year Review Amendments Adopted August 2018 (Current Version)

Effective Date of Standard: November 19, 2018
Date Amendment Approved by Management Committee: August 3, 2018
Date Amendment Adopted by Commission: August 3, 2018

Adopted Standard: Individual Disability Income Insurance Application Standards
Redline Version of Adopted Standard
Version Recommended by PSC to Management Committee: 
Individual Disability Income Insurance Application Standards

Subject Matter of Standard: The purpose of these amendments is to revise the Operating Procedures and Uniform Standards effective between January 1, 2012 and December 31, 2012 in accordance with the Five-Year Commission Review of Rules required by ?119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the Five-Year Review process limit the scope of review under ?119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.? See the Transmittal Memo  for a more detailed description of the proposed amendments.

Published Notices of Standard: Notice of this rule was published on April 5, 2018

Date and Location of Public Hearing, if any: June 4, 2018 at the joint teleconference of the Management Committee and Commission

Reports and Recommendations:

Comments Submitted by Members and the Public:

States who have opted out of the Uniform Standards:

  • Montana
  • Wyoming
Click to Expand  Initial Adoption

Effective Date of Rule: January 11, 2012
Date Approved by Management Committee:  September 26, 2011
Date Adopted by Commission: September 26, 2011

Adopted Standard: Individual Disability Income Insurance Application Standards
Version Recommended by PSC to Management Committee: Standards for Individual Disability Income Insurance Applications

Subject Matter of Standard: The Individual Disability Income Insurance Application Standards (the "Standards") are intended to apply to paper, telephonic or electronic applications for coverage provided by insurance policy forms for disability income plans, buy-sell plans, key person plans and business overhead expense plans that are individually underwritten, including such plans that are marketed through employer and association sponsored groups (?multi-life? plans), as applicable. These Standards are intended to apply to new business applications as well as applications used to request changes to existing policies. The company may submit one multi-purpose application to accommodate new business and all policy changes (conversion, reinstatement, suspension of coverage while in military service, exercise of guaranteed insurability option, plan changes, risk class improvements, addition of benefit feature, changes to existing benefit feature, etc.), submit separate applications for each purpose, or submit an application with any combination of purposes (new business and reinstatement only, all policy changes only, etc.).

Published Notices of Standard: Notice of this rule was published on April 29, 2011

Date and Location of Public Hearing, if any: Monday, September 26, 2011 via conference call

Product Standards Committee Memoranda and Recommendations:

Comments Submitted by Members and the Public:

States who have opted out of the Uniform Standards:

  • Montana
IIPRC-DI-I-H11-APPCH

Standard Checklist

Standards for Individual Disability Income Insurance Application Change Form Montana and Wyoming have opted out of these Uniform Standards. Nov 19, 2018
Standard History
Click to Expand  Five-Year Review Amendments Adopted August 2018 (Current Version)

Effective Date of Standard: November 19, 2018
Date Amendment Approved by Management Committee: August 3, 2018
Date Amendment Adopted by Commission: August 3, 2018

Adopted Standard: Standards for Individual Disability Income Insurance Application Change Form
Redline Version of Adopted Standard
Version Recommended by PSC to Management Committee:
 Standards for Individual Disability Income Insurance Application Change Form

Subject Matter of Standard: The purpose of these amendments is to revise the Operating Procedures and Uniform Standards effective between January 1, 2012 and December 31, 2012 in accordance with the Five-Year Commission Review of Rules required by ?119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the Five-Year Review process limit the scope of review under ?119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.? See the Transmittal Memo  for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on April 5, 2018

Date and Location of Public Hearing, if any: June 4, 2018 during the Joint teleconference of the Management Committee and Commission

Reports and Recommendations:

Comments Submitted by Members and the Public:

States who have opted out of the Uniform Standards:

  • Montana
  • Wyoming
Click to Expand  Initial Adoption

Effective Date of Standard: January 11, 2012
?Date Approved by Management Committee: September 26, 2011
Date Adopted by Commission: September 26, 2011

Adopted Standard: Standards for Individual Disability Income Insurance Application Change Form
Version Recommended by PSC to Management Committee: Standards for Individual Disability Income Insurance Application Change Form

Subject Matter of Standard: The Standards for Individual Disability Income Insurance Application Change Form apply to forms that are used during the underwriting process to make changes to answers that had been provided by the applicant in paper, telephonic or electronic applications for coverage provided by individual disability income insurance plans, buy-sell plans, key person plans or business overhead expense plans.

Published Notices of Standard: Notice of this rule was published on July 1, 2011

Date and Location of Public Hearing, if any: Monday, September 26, 2011 via conference call

Product Standards Committee Memoranda and Recommendations:

Comments Submitted by Members and the Public:

States who have opted out of the Uniform Standards:

  • Montana
IIPRC-L-I-APP

Standard Checklist

Individual Life Insurance Application Standards Dec 4, 2014
Standard History

Subject Matter of Rule:  The Individual Life Application Standards are intended to apply to paper, telephonic or electronic new business applications for coverage provided by individual life insurance policy forms.  These standards do not apply to applications for Credit Life Insurance.  These standards are not intended to apply to applications used for policy changes, such as conversion, reinstatement, exchange, re-qualification, or request to add benefits to an existing policy.

Citation to Published Notices: Notice of this Rule was published on November 22, 2006.

Name of persons requesting Public Hearing: Industry Advisory Committee

Date and Location of Public Hearing, if any February 23, 2007, 12:30 CT/1:30 ET via conference call

Status of Rule (including upcoming meetings):  These standards have been issued for notice and comment.  Written comments will be accepted on these proposed new standards until January 23, 2007.  Written requests for a public hearing must be received no later than December 12, 2006. A public hearing to receive comments is scheduled for February 23, 2007. This proposed rule may be considered at a Management Committee meeting via conference call scheduled for February 26, 2007 and a Commission meeting via conference call scheduled for February 28, 2007. No further action is necessary on this Proposed Rule.

Date Approved by Management Committee: February 26, 2007 (Explanatory Statement)

Date Adopted by Commission: February 28, 2007

Individual Life Insurance Application Standards adopted on February 28, 2007

Effective Date of Rule: May 31, 2007

Link to Comments submitted by members and the public:
National Fraternal Congress of America
Industry Advisory Committee

This rule has been amended.

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted October 2008

Redline Version of Adopted Standard: Amendment to the Individual Life Application Standards

Date Amendment Approved by Management Committee: October 27, 2008

Date Amendment Adopted by Commission: October 29, 2008

Effective Date of Amendment to Rule: February 12, 2009

Information Regarding the Amendment to the Standards:

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Individual Life Application standards to specify: information about the proposed insured's place of birth may be requested; requirements for authorizations for electronic instructions and delivery of information that must be included; under what circumstances information about the proposed insured's military service must be requested; multi-purpose applications are permissible and the conditions that are applicable to such filings; additional acknowledgments may be included in the filing for variable products, entity ownership and certain disclosure and receipt requirements; and the required notice regarding an agreement to sell or assign the policy must provide that state law may specify a certain time period restricting such agreement, rather than the two-year limitation in the originally adopted standards.

Citation to Published Notices:  Notice of this Rule was published on August 1, 2008.

Name of persons requesting Public Hearing : Director Mary Jo Hudson, Ohio

Date and Location of Public Hearing, if any: October 27, 2008 via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 21, 2008. Written requests for a public hearing must be received no later than September 30, 2008.

Link to Comments submitted by members and the public:
Comments received by the Industry Advisory Committee 
Comments from LISA

Click to Expand 5-Year Review Amendments Adopted August 2014

Redline Version of Adopted Standard: Amendments to Individual Life Insurance Application Standards

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Life Insurance Application Standards in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

 

IIPRC-L-I-APP-1

Standard Checklist

Individual Life Application Change Form Standards Dec 4, 2014
Standard History

Subject Matter of Rule: The Standards for Application Change Form apply to forms that are used during the underwriting process to make changes to answers that had been provided by the applicant in paper, telephonic or electronic new business applications for coverage provided by individual life insurance policy forms.  These standards are not intended to apply to forms that are used to make policy changes, such as conversion, reinstatement, exchange, re-qualification, or request to add benefits to an existing policy.

Citation to Published Notices: Notice of this Rule was published on December 22, 2006.

Name of persons requesting Public Hearing Industry Advisory Committee

Date and Location of Public Hearing, if any: February 23, 2007, 12:30 CT/1:30 ET via conference call

Status of Rule (including upcoming meetings):  This operating procedure has been issued for notice and comment.  Written comments will be accepted on this proposed new operating procedure until February 20, 2007.  Written requests for a public hearing must be received no later than January 11, 2007.A public hearing to receive comments is scheduled for February 23, 2007. This proposed rule may be considered at a Management Committee meeting via conference call scheduled for February 26, 2007 and a Commission meeting via conference call scheduled for February 28, 2007. No further action is necessary on this Proposed Rule.

Date Approved by Management Committee: February 26, 2007 (Explanatory Statement)

Date Adopted by Commission: February 28, 2007

Individual Life Application Change Form Standards adopted on February 28, 2007

Effective Date of Rule: May 31, 2007

Link to Comments submitted by members and the public:
Industry Advisory Committee

This rule has been amended.

 

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted October 2008

Redline Version of Adopted Standard: Amendment to the Standards for Individual Life Application Change Form

Date Amendment Approved by Management Committee: October 27, 2008

Date Amendment Adopted by Commission: October 29, 2008

Effective Date of Amendment to Rule: February 12, 2009

Information Regarding the Amendment to the Standards:

Subject Matter of Proposed Rule: The purpose of this rule is to amend the title of the Amendment to Standards for Individual Life Application Change Form, clarify the definition, and remove restrictions on using forms filed under this rule with applications for new business only.

Citation to Published Notices:  Notice of this Rule was published on August 1, 2008.

Name of persons requesting Public Hearing : Director Mary Jo Hudson, Ohio

Date and Location of Public Hearing, if any: October 27, 2008 via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 21, 2008. Written requests for a public hearing must be received no later than September 30, 2008.

Link to Comments submitted by members and the public:
Comments received by the Industry Advisory Committee

Click to Expand 5-Year Review Amendments Adopted August 2014

Redline Version of Adopted Standard: Amendments to Individual Life Application Change Form Standards

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Life Application Change Form Standards in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

 

IIPRC-LTC-I-3-APP

Standard Checklist

Individual Long-Term Care Insurance Application Standards Arizona, Connecticut, Delaware, District of Columbia, Indiana, Montana, and New Jersey have opted out of these Uniform Standards. Oct 10, 2017
Standard History

 

Click to Expand Five-Year Review Amendments Adopted June 2017 (Current Version)
?
Effective Date of Standard: October 10, 2017
Date Amendment Approved by Management Committee: June 26, 2017
Date Amendment Adopted by Commission: June 26, 2017

Adopted Standard: Individual Long-Term Care Insurance Application Standards
Redline Version of Adopted Standard
Version Recommended by PSC to Management Committee

Subject Matter of Standard: The purpose of these amendments is to revise the Operating Procedures and Uniform Standards effective between July 1, 2010 and December 31, 2010, in accordance with the Five-Year Commission Review of Rules required by ?119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the Five-Year Review process limit the scope of review under ?119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.? See the Transmittal Memo for a more detailed description of the proposed amendments.

Published Notices of Standard: Notice of this rule was published on September 1, 2016

Date and Location of Public Hearing, if any: November 7, 2016, at 1:30 pm ET / 12:30 pm CT via teleconference

Reports and Recommendations:

Comments Submitted by Members and the Public:

States who have opted out of the Uniform Standards:

  • Arizona
  • Connecticut
  • District of Columbia
  • Hawaii
  • Indiana
  • Montana
  • New Jersey
Click to Expand Initial Adoption

Effective Date of Standard: December 1, 2010
?Date Approved by Management Committee: August 13, 2010
Date Adopted by Commission: August 13, 2010

Adopted Standard: Individual Long-Term Care Insurance Application Standards
Versions Recommended by PSC to Management Committee:

Subject Matter of Standard: The Individual Long-Term Care Insurance Application Standards (the ?Standards?) apply to paper, telephonic or electronic applications for coverage provided by individual long-term care insurance policy forms. These standards are intended to apply to new business applications as well as applications used to request changes to existing policies.

Published Notices of Standard: Notice of this rule was published on January 21, 2010.

Date and Location of Public Hearing, if any: Thursday, March 25, 2010 at 3:00 p.m. MT at the Hyatt Regency and Colorado Convention Center, Denver Colorado, Meeting Room: Centennial D - 3rd Level.

Product Standards Committee Memoranda and Recommendations:

Comments Submitted by Members and the Public:

States who have opted out of the Uniform Standards:

  • Arizona
  • Connecticut
  • District of Columbia
  • Hawaii
  • Indiana
  • Montana
  • New Jersey
IIPRC-LTC-I-3-APPCH

Standard Checklist

Standards for Individual Long-Term Care Insurance Application Change Form Arizona, Connecticut, Delaware, District of Columbia, Indiana, Montana, and New Jersey have opted out of these Uniform Standards. Oct 10, 2017
Standard History

 

Click to Expand Five-Year Review Amendments Adopted June 2017 (Current Version)

Effective Date of Standard: October 10, 2017
Date Amendment Approved by Management Committee: June 26, 2017
Date Amendment Adopted by Commission: June 26, 2017

Adopted Standard: Standards for Individual Long-Term Care Insurance Application Change Form
Redline Version of Adopted Standard
Version Recommended by PSC to Management Committee

Subject Matter of Standard: The purpose of these amendments is to revise the Operating Procedures and Uniform Standards effective between July 1, 2010 and December 31, 2010, in accordance with the Five-Year Commission Review of Rules required by ?119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the Five-Year Review process limit the scope of review under ?119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.? See the Transmittal Memo for a more detailed description of the proposed amendments.

Published Notices of Standard: Notice of this rule was published on September 1, 2016

Date and Location of Public Hearing, if any: November 7, 2016, at 1:30 pm ET / 12:30 pm CT via teleconference

Memos from Product Standards Committee:

Comments Submitted by Members and the Public: None.

States who have opted out of the Uniform Standards:

  • Arizona
  • Connecticut
  • District of Columbia
  • Hawaii
  • Indiana
  • Montana
  • New Jersey
Click to Expand Initial Adoption

Effective Date of Standard: December 1, 2010
Date Approved by Management Committee: August 13, 2010
Date Adopted by Commission: August 13, 2010

Adopted Standard: Standards for Individual Long-Term Care Insurance Application Change Form
Versions Recommended by PSC to Management Committee:

Subject Matter of Standard: The Standards for Individual Long-Term Care Insurance Application Change Form (the ?Standards?) apply to forms used during the underwriting process to make changes to answers that had been provided by the applicant in paper, telephonic or electronic applications for coverage provided by individual long-term care insurance forms.

Published Notices of Standard: Notice of this rule was published on January 21, 2010.

Date and Location of Public Hearing, if any: Thursday, March 25, 2010 at 3:00 p.m. MT at the Hyatt Regency and Colorado Convention Center, Denver Colorado, Meeting Room: Centennial D - 3rd Level.

Product Standards Committee Memoranda and Recommendations:

Comments Submitted by Members and the Public:

States who have opted out of the Uniform Standards:

  • Arizona
  • Connecticut
  • District of Columbia
  • Hawaii
  • Indiana
  • Montana
  • New Jersey
IIPRC-LTC-I-3-APPFORMS

Standard Checklist

Standards for Forms Required to Be Used with an Individual Long-Term Care Insurance Application Arizona, Connecticut, Delaware, District of Columbia, Indiana, Montana, and New Jersey have opted out of these Uniform Standards. Oct 10, 2017
Standard History

 

Click to Expand Five-Year Review Amendments Adopted June 2017 (Current Version)

Effective Date of Standard: October 10, 2017
Date Amendment Approved by Management Committee: June 26, 2017
Date Amendment Adopted by Commission: June 26, 2017

Adopted Standard: Standards for Forms Required to Be Used with an Individual Long-Term Care Insurance Application
Redline Version of Adopted Standard
Version Recommended by PSC to Management Committee

Subject Matter of Standard: The purpose of these amendments is to revise the Operating Procedures and Uniform Standards effective between July 1, 2010 and December 31, 2010, in accordance with the Five-Year Commission Review of Rules required by ?119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the Five-Year Review process limit the scope of review under ?119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.? See the Transmittal Memo for a more detailed description of the proposed amendments.

Published Notices of Standard: Notice of this rule was published on September 1, 2016

Date and Location of Public Hearing, if any: November 7, 2016, at 1:30 pm ET / 12:30 pm CT via teleconference

Reports and Recommendations:

Comments Submitted by Members and the Public:

States who have opted out of the Uniform Standards:

  • Arizona
  • Connecticut
  • District of Columbia
  • Hawaii
  • Indiana
  • Montana
  • New Jersey
Click to Expand Amendments Adopted April 2011

Effective Date of Standard: August 11, 2011
Date Amendment Adopted by Management Committee: April 25, 2011
Date Amendment Adopted by Commission: April 25, 2011

Adopted Standard: Standards for Forms Required to be Used with an Individual Long-Term Care Insurance Application
Version Recommended by PSC to Management Committee

Subject Matter of Standard: The amendments to Standards for Forms Required to Be Used with an Individual Long-Term Care Insurance Application (the ?Standards?) clarify that the Rate Increase History disclosure requirements are to be provided with only the Personal Worksheet.

Published Notices of Standard: Notice of this rule was published on February 3, 2011

Date and Location of Public Hearing, if any: March 25, 2011 Joint Meeting of the Management Committee and Commission in Austin, TX

Memoranda from the Product Standards Committee:

Comments Submitted by Members and the Public: None.

States who have opted out of the Uniform Standards:

  • Arizona
  • Connecticut
  • District of Columbia
  • Hawaii
  • Indiana
  • Montana
  • New Jersey
Click to Expand Initial Adoption

Effective Date of Standard: December 1, 2010
Date Approved by Management Committee: August 13, 2010
Date Adopted by Commission: August 13, 2010

Adopted Standard: Standards for Forms Required to be Used with an Individual Long-Term Care Insurance Application
Versions Recommended by PSC to Management Committee:

Subject Matter of Standard: The Standards for Forms Required to be Used with an Individual Long-Term Care Insurance Application (the ?Standards?) apply to forms that are required to be used with individual long-term care applications, including the suitability forms, the Potential Rate Increase Disclosure Form, the Replacement Notice and the HIPAA Medical Authorization.

Published Notices of Standard: Notice of this rule was published on January 21, 2010.

Date and Location of Public Hearing, if any: Thursday, March 25, 2010 at 3:00 p.m. MT at the Hyatt Regency and Colorado Convention Center, Denver Colorado, Meeting Room: Centennial D - 3rd Level.

Product Standards Committee Memoranda and Recommendations:

Comments Submitted by Members and the Public:

States who have opted out of the Uniform Standards:

  • Arizona
  • Connecticut
  • District of Columbia
  • Hawaii
  • Indiana
  • Montana
  • New Jersey
Click to Expand INDIVIDUAL TERM LIFE PRODUCT LINE
Citation NumberName of Standard/ProcedureEffective Date
IIPRC-L-04-I

Standard Checklist

Individual Term Life Insurance Policy Standards Dec 5, 2016
Standard History

Subject Matter of Rule: The Individual Term Life Insurance Policy Standards specify additional submission requirements, form requirements and policy provisions for traditional forms of individual term life insurance, including renewable term for various term periods, term to a specified age, and decreasing term insurance.  Deposit term plans, plans that provide joint and last to die survivorship coverage, plans sold in connection with pre-need funeral arrangements, and plans providing early duration reduced benefits are not to be submitted using these standards.  The Standards include required and optional provisions for applicable policy forms, such as any applicable exclusions, death benefit proceeds, grace period, incontestability, loans, reinstatement and right to examine.

Certain portions of the proposed Standards are also proposed to be conforming amendments to each of the uniform standards promulgated by the Interstate Insurance Product Regulation Commission (?Commission?) on December 8, 2006:  Flexible Premium Adjustable Life Policy Standards, Joint Last to Die Survivorship Flexible Premium Adjustable Life, Flexible Premium Variable Adjustable Life, Joint Last to Die Survivorship Flexible Premium Variable Adjustable Life, and Modified Single Premium Adjustable Life.  For further information, please refer to the published notice of this proposed rule.

Citation to Published Notices: Notice of this Rule was published on January 24, 2007.

Name of persons requesting Public Hearing: Industry Advisory Committee

Date and Location of Public Hearing, if any: May 16, 2007, 1:00 pm ET/ 12:00 pm CT via teleconference

Status of Proposed Rule (including upcoming meetings):  This uniform standard has been issued for notice and comment.  Written comments will be accepted on this proposed new uniform standard until March 26, 2007.  Written requests for a public hearing must be received no later than February 13, 2007The Proposed Standards are subject to Management Committee and Commission review, approval and adoption on June 1.

Date Approved by Management Committee: June 1, 2007

Date Adopted by Commission: June 1, 2007

Effective Date of Rule: September 6, 2007

Original Version: Individual Term Life Insurance Policy Standards

Link to Comments submitted by members and the public:

Rep. Robert Damon (KY)
IIPRC Industry Advisory Committee
LISA Comments (03/26)
LISA Comments (05/14)

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted August 2008

Date Amendment Approved by Management Committee: August 25, 2008

Date Amendment Adopted by Commission: August 27, 2008

Effective Date of Amendment to Rule: December 14, 2008

Individual Term Life Insurance Policy Standards adopted August 27, 2008

Information Regarding the Amendment to the Standards:

Name of Proposed Rule: Amendments to Actuarial Memorandum Requirements Section

Subject Matter of Proposed Rule: The purpose of this rule is to amend the individual life insurance policy standards to relocate existing submission requirements related to the actuarial memorandum into a separate, independent section of the standards.  The objective of this amendment is to improve compliance with the actuarial submission requirements in product filings received by the Interstate Insurance Product Regulation Commission (?IIPRC?) and to simplify the product review and approval process.

Citation to Published Notices:  Notice of this Rule was published on May 1, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Actuarial Certification of Compliance

Subject Matter of Proposed Rule:  The purpose of this rule is to amend certain uniform standards by clarifying the requirement that certain elements of the actuarial memorandum be certified as compliant with NAIC model laws or regulations. This amendment would affect all individual life insurance policy standards that do not already contain a sample certification.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Underwriting Exclusions

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the Exclusions section of certain uniform standards. The amendment concerns the method of adding exclusions to a policy such that addition by policy amendment would be permitted, along with the existing methods of rider and endorsement. This amendment would also permit exclusions on the basis of foreign travel and foreign residency, subject to applicable law in the state where the policy is delivered or issued for delivery and subject to the general requirements for adding such exclusions. The amendment also prohibits excluding death benefits on the basis of risk of death as a result of war or activities of military service for applicants identified as members of the military in the application. The general requirements for adding exclusions are provided in the Standards for Forms Used to Exclude Policy Coverage Based on the Underwriting Process and the applicable individual policy standards.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008. 

Link to Comments submitted by members and the public:
Comments from the Industry Advisory Committee

Additional Amendment Proposed by the Product Standards Committee
Memo regarding Additional Amendment Proposed by the Product Standards Committee

Click to Expand Amendments Adopted October 2010

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the individual term life insurance policy standards to clarify the conditions for reinstatement of the policy and payment of overdue premium; and specify the availability of the mix and match and self certification processes.

Citation to Published Notices: Notice of this rule was published on August 6, 2010.

Name of persons requesting Public Hearing : Director Mary Jo Hudson, Chair

Date and Location of Public Hearing, if any: October 17, 2010, 1:00 ET at the Gaylord Palms Resort & Convention Center, 6000 W. Osceola Pkwy, Kissimmee, FL 34746-4414

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until October 5, 2010. Written requests for a public hearing must be received no later than August 26, 2010.

Date Approved by Management Committee: October 17, 2010

Date Adopted by Commission: October 17, 2010

Effective Date of Rule: January 15, 2010

Link to Comments submitted by members and the public:

Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Individual Term Life Insurance Policy Standards

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Term Life Insurance Policy Standards in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand War Exclusion Amendment Adopted August 2016

Rule Redline Version of Adopted Standard: Proposed War Exclusion Amendments

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Exclusions subsection of Section 3 Policy Provisions of certain Uniform Standards. The amendment deletes Subsection (1)(a)(ii) of the war exclusion provision. The amendment eliminates confusion and further clarifies that the Uniform Standards do not permit life insurance policies to contain a death benefit exclusion for known members of the military that die as a result of any act related to military service. Additionally, the term ?United States? will be added to Subsection (1)(a)( i) to clarify that this prohibition on war exclusions applies to members of the United States military, military reserves or the National Guard and not members of the military of another nation.

Citation to Published Notices: Notice of this rule was published on May 31, 2016.

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: June 29, 2016 during the Joint Management Committee and Commission teleconference. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 1, 2016. Written requests for a public hearing must be received no later than June 20, 2016

Date Approved by Management Committee: August 25, 2016

Date Adopted by Commission: August 25, 2016

Effective Date of Rule: December 5, 2016

Memos from Product Standards Committee:

Transmittal Memo

Link to Comments submitted by members and the public:

Connecticut Insurance Department?s Request to Amend the War Exclusion Provision in IIPRC Uniform Standards for Life Insurance Products, dated March 1, 2016 
Commissioner Cunningham?s Response to Connecticut?s Request dated March 4, 2016

 

IIPRC-L-04-I-1

Standard Checklist

Individual Single Premium Term Life Insurance Policy Standards Dec 5, 2016
Standard History

Subject Matter of Proposed Rule:  The Individual Single Premium Term Life Insurance Policy Standards (the ?Proposed Standards?) specify additional submission requirements, form requirements and policy provisions for traditional forms of individual single premium term life insurance, including various term periods, term to a specified age, and decreasing term insurance. Deposit term plans, plans that provide joint and last to die survivorship coverage, plans sold in connection with pre-need funeral arrangements, or plans providing early duration reduced benefits are outside the scope of these Proposed Standards.

Citation to Published Notices: Notice of the Proposed Standards was published on March 1, 2007

Name of persons requesting Public Hearing: Industry Advisory Committee

Date and Location of Public Hearing, if any: May 16, 2007, 1:00 pm ET/ 12:00 pm CT via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until April 1, 2007. Written requests for a public hearing must be received no later than March 21, 2007The Proposed Standards are subject to Management Committee and Commission review, approval and adoption on June 1.

Date Approved by Management Committee: June 1, 2007

Date Adopted by Commission: June 1, 2007

Effective Date of Rule: September 6, 2007

Original Version: Individual Single Premium Term Life Insurance Policy Standards

Link to Comments submitted by members and the public:
LISA Comments (04/30) 
Industry Advisory Committee Comments
State Representative Damron (KY) Comments
Kentucky Comments
LISA Comments (05/14)

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted August 2008

Date Amendment Approved by Management Committee: August 25, 2008

Date Amendment Adopted by Commission: August 27, 2008

Effective Date of Amendment to Rule: December 14, 2008

Information Regarding the Amendment to the Standards:

Name of Proposed Rule: Amendments to Actuarial Memorandum Requirements Section

Subject Matter of Proposed Rule: The purpose of this rule is to amend the individual life insurance policy standards to relocate existing submission requirements related to the actuarial memorandum into a separate, independent section of the standards.  The objective of this amendment is to improve compliance with the actuarial submission requirements in product filings received by the Interstate Insurance Product Regulation Commission (?IIPRC?) and to simplify the product review and approval process.

Citation to Published Notices:  Notice of this Rule was published on May 1, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Actuarial Certification of Compliance

Subject Matter of Proposed Rule:  The purpose of this rule is to amend certain uniform standards by clarifying the requirement that certain elements of the actuarial memorandum be certified as compliant with NAIC model laws or regulations. This amendment would affect all individual life insurance policy standards that do not already contain a sample certification.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Underwriting Exclusions

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the Exclusions section of certain uniform standards. The amendment concerns the method of adding exclusions to a policy such that addition by policy amendment would be permitted, along with the existing methods of rider and endorsement. This amendment would also permit exclusions on the basis of foreign travel and foreign residency, subject to applicable law in the state where the policy is delivered or issued for delivery and subject to the general requirements for adding such exclusions. The amendment also prohibits excluding death benefits on the basis of risk of death as a result of war or activities of military service for applicants identified as members of the military in the application. The general requirements for adding exclusions are provided in the Standards for Forms Used to Exclude Policy Coverage Based on the Underwriting Process and the applicable individual policy standards.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008. 

Link to Comments submitted by members and the public:
Comments from the Industry Advisory Committee

Additional Amendment Proposed by the Product Standards Committee
Memo regarding Additional Amendment Proposed by the Product Standards Committee

Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Individual Single Premium Term Life Insurance Policy Standards

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Single Premium Term Life Insurance Policy Standards in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand War Exclusion Amendment Adopted August 2016

Rule Redline Version of Adopted Standard: Proposed War Exclusion Amendments

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Exclusions subsection of Section 3 Policy Provisions of certain Uniform Standards. The amendment deletes Subsection (1)(a)(ii) of the war exclusion provision. The amendment eliminates confusion and further clarifies that the Uniform Standards do not permit life insurance policies to contain a death benefit exclusion for known members of the military that die as a result of any act related to military service. Additionally, the term ?United States? will be added to Subsection (1)(a)( i) to clarify that this prohibition on war exclusions applies to members of the United States military, military reserves or the National Guard and not members of the military of another nation.

Citation to Published Notices: Notice of this rule was published on May 31, 2016.

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: June 29, 2016 during the Joint Management Committee and Commission teleconference. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 1, 2016. Written requests for a public hearing must be received no later than June 20, 2016

Date Approved by Management Committee: August 25, 2016

Date Adopted by Commission: August 25, 2016

Effective Date of Rule: December 5, 2016

Memos from Product Standards Committee:

Transmittal Memo

Link to Comments submitted by members and the public:

Connecticut Insurance Department?s Request to Amend the War Exclusion Provision in IIPRC Uniform Standards for Life Insurance Products, dated March 1, 2016 
Commissioner Cunningham?s Response to Connecticut?s Request dated March 4, 2016

IIPRC-L-04-I-2

Standard Checklist

Individual Joint Last to Die Survivorship Term Life Insurance Policy Standards Dec 5, 2016
Standard History

Subject Matter of Rule: The Individual Joint Last to Die Survivorship Term Life Insurance Policy Standards (the ?Proposed Standards?) specify additional submission requirements, form requirements and policy provisions for traditional forms of individual joint last to die survivorship term life insurance, including renewable term for various term periods, term to a specified age, and decreasing term insurance, which provide that the death benefit is payable upon the death of the last surviving insured to die. Deposit term plans, plans sold in connection with pre-need funeral arrangements, or plans providing early duration reduced benefits are outside the scope of these Proposed Standards.

Citation to Published Notices: Notice of the Proposed Standards was published on March 1, 2007

Name of persons requesting Public Hearing: Industry Advisory Committee

Date and Location of Public Hearing, if any: May 16, 2007, 1:00 pm ET/ 12:00 pm CT via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until April 1, 2007. Written requests for a public hearing must be received no later than March 21, 2007The Proposed Standards are subject to Management Committee and Commission review, approval and adoption on June 1.

Date Approved by Management Committee: June 1, 2007

Date Adopted by Commission: June 1, 2007

Effective Date of Rule: September 6, 2007

Original Version: Individual Joint Last to Die Survivorship Term Life Insurance Policy Standards

Link to Comments submitted by members and the public: 
LISA Comments (04/30) 
Industry Advisory Committee Comments
State Representative Damron (KY) Comments
Kentucky Comments
LISA Comments (05/14)

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted August 2008

Date Amendment Approved by Management Committee: August 25, 2008

Date Amendment Adopted by Commission: August 27, 2008

Effective Date of Amendment to Rule: December 14, 2008

Information Regarding the Amendment to the Standards:

Name of Proposed Rule: Amendments to Actuarial Memorandum Requirements Section

Subject Matter of Proposed Rule: The purpose of this rule is to amend the individual life insurance policy standards to relocate existing submission requirements related to the actuarial memorandum into a separate, independent section of the standards.  The objective of this amendment is to improve compliance with the actuarial submission requirements in product filings received by the Interstate Insurance Product Regulation Commission (?IIPRC?) and to simplify the product review and approval process.

Citation to Published Notices:  Notice of this Rule was published on May 1, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Actuarial Certification of Compliance

Subject Matter of Proposed Rule:  The purpose of this rule is to amend certain uniform standards by clarifying the requirement that certain elements of the actuarial memorandum be certified as compliant with NAIC model laws or regulations. This amendment would affect all individual life insurance policy standards that do not already contain a sample certification.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Underwriting Exclusions

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the Exclusions section of certain uniform standards. The amendment concerns the method of adding exclusions to a policy such that addition by policy amendment would be permitted, along with the existing methods of rider and endorsement. This amendment would also permit exclusions on the basis of foreign travel and foreign residency, subject to applicable law in the state where the policy is delivered or issued for delivery and subject to the general requirements for adding such exclusions. The amendment also prohibits excluding death benefits on the basis of risk of death as a result of war or activities of military service for applicants identified as members of the military in the application. The general requirements for adding exclusions are provided in the Standards for Forms Used to Exclude Policy Coverage Based on the Underwriting Process and the applicable individual policy standards.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008. 

Link to Comments submitted by members and the public:
Comments from the Industry Advisory Committee

Additional Amendment Proposed by the Product Standards Committee
Memo regarding Additional Amendment Proposed by the Product Standards Committee

Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Individual Joint Last to Die Survivorship Term Life Insurance Policy Standards

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Joint Last to Die Survivorship Term Life Insurance Policy Standards in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memofor a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand  War Exclusion Amendment Adopted August 2016

Rule Redline Version of Adopted Standard: Proposed War Exclusion Amendments

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Exclusions subsection of Section 3 Policy Provisions of certain Uniform Standards. The amendment deletes Subsection (1)(a)(ii) of the war exclusion provision. The amendment eliminates confusion and further clarifies that the Uniform Standards do not permit life insurance policies to contain a death benefit exclusion for known members of the military that die as a result of any act related to military service. Additionally, the term ?United States? will be added to Subsection (1)(a)( i) to clarify that this prohibition on war exclusions applies to members of the United States military, military reserves or the National Guard and not members of the military of another nation.

Citation to Published Notices: Notice of this rule was published on May 31, 2016.

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: June 29, 2016 during the Joint Management Committee and Commission teleconference. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 1, 2016. Written requests for a public hearing must be received no later than June 20, 2016

Date Approved by Management Committee: August 25, 2016

Date Adopted by Commission: August 25, 2016

Effective Date of Rule: December 5, 2016

Memos from Product Standards Committee:

Transmittal Memo

Link to Comments submitted by members and the public:

Connecticut Insurance Department?s Request to Amend the War Exclusion Provision in IIPRC Uniform Standards for Life Insurance Products, dated March 1, 2016 
Commissioner Cunningham?s Response to Connecticut?s Request dated March 4, 2016

IIPRC-L-04-I-3

Standard Checklist

Individual Single Premium Joint Last to Die Survivorship Term Life Insurance Policy Standards Dec 5, 2016
Standard History

Subject Matter of Proposed Rule:  The Individual Single Premium Joint Last to Die Survivorship Term Life Insurance Policy Standards (the ?Proposed Standards?) specify additional submission requirements, form requirements and policy provisions for traditional forms of individual single premium term life insurance, including various term periods, term to a specified age, and decreasing term insurance, which provide that the death benefit is payable upon the death of the last surviving insured to die. Deposit term plans, plans that provide joint and last to die survivorship coverage, plans sold in connection with pre-need funeral arrangements, or plans providing early duration reduced benefits are outside the scope of these Proposed Standards.

Certain portions of the Proposed Standards are also proposed to be conforming amendments to each of the uniform standards promulgated by the Interstate Insurance Product Regulation Commission on December 8, 2006: Flexible Premium Adjustable Life Policy Standards, Joint Last to Die Survivorship Flexible Premium Adjustable Life, Flexible Premium Variable Adjustable Life, Joint Last to Die Survivorship Flexible Premium Variable Adjustable Life, and Modified Single Premium Adjustable Life. For further information, please refer to the published notice of the Proposed Standards.

Citation to Published Notices: Notice of the Proposed Standards was published on March 1, 2007

Name of persons requesting Public Hearing: Industry Advisory Committee

Date and Location of Public Hearing, if any: May 16, 2007, 1:00 pm ET/ 12:00 pm CT via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until April 1, 2007. Written requests for a public hearing must be received no later than March 21, 2007The Proposed Standards are subject to Management Committee and Commission review, approval and adoption on June 1.

Date Approved by Management Committee: June 1, 2007

Date Adopted by Commission:

Effective Date of Rule: September 6, 2007

Original Version: Individual Single Premium Joint Last to Die Survivorship Term Life Insurance Policy Standards

Link to Comments submitted by members and the public: 
LISA Comments (04/30) 
Industry Advisory Committee Comments
State Representative Damron (KY) Comments
Kentucky Comments 
LISA Comments (05/14)

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted August 2008

Date Amendment Approved by Management Committee: August 25, 2008

Date Amendment Adopted by Commission: August 27, 2008

Effective Date of Amendment to Rule: December 14, 2008

Information Regarding the Amendment to the Standards:

Name of Proposed Rule: Amendments to Actuarial Memorandum Requirements Section

Subject Matter of Proposed Rule: The purpose of this rule is to amend the individual life insurance policy standards to relocate existing submission requirements related to the actuarial memorandum into a separate, independent section of the standards.  The objective of this amendment is to improve compliance with the actuarial submission requirements in product filings received by the Interstate Insurance Product Regulation Commission (?IIPRC?) and to simplify the product review and approval process.

Citation to Published Notices:  Notice of this Rule was published on May 1, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Actuarial Certification of Compliance

Subject Matter of Proposed Rule:  The purpose of this rule is to amend certain uniform standards by clarifying the requirement that certain elements of the actuarial memorandum be certified as compliant with NAIC model laws or regulations. This amendment would affect all individual life insurance policy standards that do not already contain a sample certification.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Underwriting Exclusions

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the Exclusions section of certain uniform standards. The amendment concerns the method of adding exclusions to a policy such that addition by policy amendment would be permitted, along with the existing methods of rider and endorsement. This amendment would also permit exclusions on the basis of foreign travel and foreign residency, subject to applicable law in the state where the policy is delivered or issued for delivery and subject to the general requirements for adding such exclusions. The amendment also prohibits excluding death benefits on the basis of risk of death as a result of war or activities of military service for applicants identified as members of the military in the application. The general requirements for adding exclusions are provided in the Standards for Forms Used to Exclude Policy Coverage Based on the Underwriting Process and the applicable individual policy standards.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008. 

Link to Comments submitted by members and the public:
Comments from the Industry Advisory Committee

Additional Amendment Proposed by the Product Standards Committee
Memo regarding Additional Amendment Proposed by the Product Standards Committee

Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Individual Single Premium Joint Last to Die Survivorship Term Life Insurance Policy Standards

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Single Premium Joint Last to Die Survivorship Term Life Insurance Policy Standards in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand War Exclusion Amendment Adopted August 2016

Rule Redline Version of Adopted Standard: Proposed War Exclusion Amendments

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Exclusions subsection of Section 3 Policy Provisions of certain Uniform Standards. The amendment deletes Subsection (1)(a)(ii) of the war exclusion provision. The amendment eliminates confusion and further clarifies that the Uniform Standards do not permit life insurance policies to contain a death benefit exclusion for known members of the military that die as a result of any act related to military service. Additionally, the term ?United States? will be added to Subsection (1)(a)( i) to clarify that this prohibition on war exclusions applies to members of the United States military, military reserves or the National Guard and not members of the military of another nation.

Citation to Published Notices: Notice of this rule was published on May 31, 2016.

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: June 29, 2016 during the Joint Management Committee and Commission teleconference. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 1, 2016. Written requests for a public hearing must be received no later than June 20, 2016

Date Approved by Management Committee: August 25, 2016

Date Adopted by Commission: August 25, 2016

Effective Date of Rule: December 5, 2016

Memos from Product Standards Committee:

Transmittal Memo

Link to Comments submitted by members and the public:

Connecticut Insurance Department?s Request to Amend the War Exclusion Provision in IIPRC Uniform Standards for Life Insurance Products, dated March 1, 2016 
Commissioner Cunningham?s Response to Connecticut?s Request dated March 4, 2016

Click to Expand INDIVIDUAL WHOLE LIFE PRODUCT LINE
Citation NumberName of Standard/ProcedureEffective Date
IIPRC-L-07-I

Standard Checklist

Individual Whole Life Insurance Policy Standards Dec 5, 2016
Standard History

Subject Matter of Rule:  The Individual Whole Life Insurance Policy Standards (the ?Proposed Standards?) specify additional submission requirements, form requirements and policy provisions for traditional forms of individual whole life insurance, including limited pay whole life insurance. The Proposed Standards include required and optional provisions for applicable policy forms, such as any applicable exclusions, death benefit proceeds, grace period, incontestability, loans, reinstatement and right to examine. Plans that are interest sensitive with an account value, plans that provide joint and last to die survivorship coverage, plans sold in connection with pre-need funeral arrangements and plans providing early duration reduced benefits are outside the scope of these standards.

Citation to Published Notices: Notice of the Proposed Standards was published on March 14, 2007

Name of persons requesting Public Hearing: Industry Advisory Committee

Date and Location of Public Hearing, if any: May 16, 2007, 1:00 pm ET/ 12:00 pm CT via teleconference

Status of Proposed Rule (including upcoming meetings):  The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until May 14, 2007. Written requests for a public hearing must be received no later than April 3, 2007. The Proposed Standards are subject to Management Committee and Commission review, approval and adoption on June 1.

Date Approved by Management Committee: June 1, 2007

Date Adopted by Commission: June 1, 2007

Effective Date of Rule: September 6, 2007

Original Version: Individual Whole Life Insurance Policy Standards

Link to Comments submitted by members and the public:
AARP Comments
IIPRC Industry Advisory Committee Comments
Kentucky Comments
LISA Comments

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted October 2008

Date Amendment Approved by Management Committee: August 25, 2008

Date Amendment Adopted by Commission: August 27, 2008

Individual Whole Life Insurance Policy Standards Adopted August 27, 2008

Effective Date of Amendment to Rule: December 14, 2008

Information Regarding the Amendment to the Standards:

Name of Proposed Rule: Amendments to Actuarial Memorandum Requirements Section

Subject Matter of Proposed Rule: The purpose of this rule is to amend the individual life insurance policy standards to relocate existing submission requirements related to the actuarial memorandum into a separate, independent section of the standards.  The objective of this amendment is to improve compliance with the actuarial submission requirements in product filings received by the Interstate Insurance Product Regulation Commission (?IIPRC?) and to simplify the product review and approval process.

Citation to Published Notices:  Notice of this Rule was published on May 1, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Actuarial Certification of Compliance

Subject Matter of Proposed Rule:  The purpose of this rule is to amend certain uniform standards by clarifying the requirement that certain elements of the actuarial memorandum be certified as compliant with NAIC model laws or regulations. This amendment would affect all individual life insurance policy standards that do not already contain a sample certification.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Underwriting Exclusions

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the Exclusions section of certain uniform standards. The amendment concerns the method of adding exclusions to a policy such that addition by policy amendment would be permitted, along with the existing methods of rider and endorsement. This amendment would also permit exclusions on the basis of foreign travel and foreign residency, subject to applicable law in the state where the policy is delivered or issued for delivery and subject to the general requirements for adding such exclusions. The amendment also prohibits excluding death benefits on the basis of risk of death as a result of war or activities of military service for applicants identified as members of the military in the application. The general requirements for adding exclusions are provided in the Standards for Forms Used to Exclude Policy Coverage Based on the Underwriting Process and the applicable individual policy standards.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008. 

Link to Comments submitted by members and the public:
Comments from the Industry Advisory Committee

Additional Amendment Proposed by the Product Standards Committee
Memo regarding Additional Amendment Proposed by the Product Standards Committee

Click to Expand Amendments Adopted October 2010

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the individual whole life insurance policy standards to clarify the scope of the rule in connection with the adoption of additional standards for benefits specifically excluded from this rule.

Citation to Published Notices: Notice of this rule was published on August 6, 2010.

Name of persons requesting Public Hearing : Director Mary Jo Hudson, Chair

Date and Location of Public Hearing, if any: October 17, 2010, 1:00 ET at the Gaylord Palms Resort & Convention Center, 6000 W. Osceola Pkwy, Kissimmee, FL 34746-4414

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until October 5, 2010. Written requests for a public hearing must be received no later than August 26, 2010.

Date Approved by Management Committee: October 17, 2010

Date Adopted by Commission: October 17, 2010

Effective Date of Rule: January 15, 2011

Link to Comments submitted by members and the public:

Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Individual Whole Life Insurance Policy Standards

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Whole Life Insurance Policy Standards in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Public hearing was held on July 28th during a Management Committee teleconference. 

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand War Exclusion Amendment Adopted August 2016

Redline Version of Adopted Standard: Proposed War Exclusion Amendments

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Exclusions subsection of Section 3 Policy Provisions of certain Uniform Standards. The amendment deletes Subsection (1)(a)(ii) of the war exclusion provision. The amendment eliminates confusion and further clarifies that the Uniform Standards do not permit life insurance policies to contain a death benefit exclusion for known members of the military that die as a result of any act related to military service. Additionally, the term ?United States? will be added to Subsection (1)(a)( i) to clarify that this prohibition on war exclusions applies to members of the United States military, military reserves or the National Guard and not members of the military of another nation.

Citation to Published Notices: Notice of this rule was published on May 31, 2016.

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: June 29, 2016 during the Joint Management Committee and Commission teleconference. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 1, 2016. Written requests for a public hearing must be received no later than June 20, 2016

Date Approved by Management Committee: August 25, 2016

Date Adopted by Commission: August 25, 2016

Effective Date of Rule: December 5, 2016

Memos from Product Standards Committee:

Transmittal Memo

Link to Comments submitted by members and the public:

Connecticut Insurance Department?s Request to Amend the War Exclusion Provision in IIPRC Uniform Standards for Life Insurance Products, dated March 1, 2016 
Commissioner Cunningham?s Response to Connecticut?s Request dated March 4, 2016

IIPRC-L-07-I-1

Standard Checklist

Individual Single Premium Whole Life Insurance Policy Standards Dec 5, 2016
Standard History

Subject Matter of Rule: The Individual Single Premium Whole Life Insurance Policy Standards (the ?Proposed Standards?) specify additional submission requirements, form requirements and policy provisions for traditional forms of individual single premium whole life insurance. The Proposed Standards include required and optional provisions for applicable policy forms, such as any applicable exclusions, death benefit proceeds, grace period, incontestability, loans and right to examine. Plans that are interest sensitive with an account value, plans sold in connection with pre-need funeral arrangements and plans providing early duration reduced benefits are outside the scope of these standards.

Citation to Published Notices: Notice of the Proposed Standards was published on March 14, 2007

Name of persons requesting Public Hearing: Industry Advisory Committee

Date and Location of Public Hearing, if any: May 16, 2007, 1:00 pm ET/ 12:00 pm CT via teleconference

Status of Proposed Rule (including upcoming meetings):  The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until May 14, 2007. Written requests for a public hearing must be received no later than April 3, 2007. The Proposed Standards are subject to Management Committee and Commission review, approval and adoption on June 1.

Date Approved by Management Committee: June 1, 2007

Date Adopted by Commission: June 1, 2007

Effective Date of Rule: September 6, 2007

Original Version: Individual Single Premium Whole Life Insurance Policy Standards

Link to Comments submitted by members and the public:
AARP Comments
IIPRC Industry Advisory Committee Comments
Kentucky Comments
LISA Comments

 

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted August 2008

Date Amendment Approved by Management Committee: August 25, 2008

Date Amendment Adopted by Commission: August 27, 2008

Effective Date of Amendment to Rule: December 14, 2008

Information Regarding the Amendment to the Standards:

Name of Proposed Rule: Amendments to Actuarial Memorandum Requirements Section

Subject Matter of Proposed Rule: The purpose of this rule is to amend the individual life insurance policy standards to relocate existing submission requirements related to the actuarial memorandum into a separate, independent section of the standards.  The objective of this amendment is to improve compliance with the actuarial submission requirements in product filings received by the Interstate Insurance Product Regulation Commission (?IIPRC?) and to simplify the product review and approval process.

Citation to Published Notices:  Notice of this Rule was published on May 1, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Actuarial Certification of Compliance

Subject Matter of Proposed Rule:  The purpose of this rule is to amend certain uniform standards by clarifying the requirement that certain elements of the actuarial memorandum be certified as compliant with NAIC model laws or regulations. This amendment would affect all individual life insurance policy standards that do not already contain a sample certification.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Underwriting Exclusions

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the Exclusions section of certain uniform standards. The amendment concerns the method of adding exclusions to a policy such that addition by policy amendment would be permitted, along with the existing methods of rider and endorsement. This amendment would also permit exclusions on the basis of foreign travel and foreign residency, subject to applicable law in the state where the policy is delivered or issued for delivery and subject to the general requirements for adding such exclusions. The amendment also prohibits excluding death benefits on the basis of risk of death as a result of war or activities of military service for applicants identified as members of the military in the application. The general requirements for adding exclusions are provided in the Standards for Forms Used to Exclude Policy Coverage Based on the Underwriting Process and the applicable individual policy standards.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008. 

Link to Comments submitted by members and the public:
Comments from the Industry Advisory Committee

Additional Amendment Proposed by the Product Standards Committee
Memo regarding Additional Amendment Proposed by the Product Standards Committee

Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Individual Single Premium Whole Life Insurance Policy Standards 

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Single Premium Whole Life Insurance Policy Standards  in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand War Exclusion Amendment Adopted August 2016

Redline Version of Adopted Standard: Proposed War Exclusion Amendments

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Exclusions subsection of Section 3 Policy Provisions of certain Uniform Standards. The amendment deletes Subsection (1)(a)(ii) of the war exclusion provision. The amendment eliminates confusion and further clarifies that the Uniform Standards do not permit life insurance policies to contain a death benefit exclusion for known members of the military that die as a result of any act related to military service. Additionally, the term ?United States? will be added to Subsection (1)(a)( i) to clarify that this prohibition on war exclusions applies to members of the United States military, military reserves or the National Guard and not members of the military of another nation.

Citation to Published Notices: Notice of this rule was published on May 31, 2016.

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: June 29, 2016 during the Joint Management Committee and Commission teleconference. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 1, 2016. Written requests for a public hearing must be received no later than June 20, 2016

Date Approved by Management Committee: August 25, 2016

Date Adopted by Commission: August 25, 2016

Effective Date of Rule: December 5, 2016

Memos from Product Standards Committee:

Transmittal Memo

Link to Comments submitted by members and the public:

Connecticut Insurance Department?s Request to Amend the War Exclusion Provision in IIPRC Uniform Standards for Life Insurance Products, dated March 1, 2016 
Commissioner Cunningham?s Response to Connecticut?s Request dated March 4, 2016

IIPRC-L-07-I-2

Standard Checklist

Individual Joint Last to Die Survivorship Whole Life Insurance Policy Standards Dec 5, 2016
Standard History

Subject Matter of Rule:  The Individual Joint Last to Die Survivorship Whole Life Insurance Policy Standards (the ?Proposed Standards?) specify additional submission requirements, form requirements and policy provisions for traditional forms of individual joint last to die survivorship whole life insurance, including limited pay whole life insurance, which provide that the death benefit is payable upon the death of the last surviving insured to die. The Proposed Standards include required and optional provisions for applicable policy forms, such as any applicable exclusions, death benefit proceeds, grace period, incontestability, loans, reinstatement and right to examine. Plans that are interest sensitive with an account value, plans sold in connection with pre-need funeral arrangements and plans providing early duration reduced benefits are outside the scope of these standards.

Citation to Published Notices: Notice of the Proposed Standards was published on March 14, 2007

Name of persons requesting Public Hearing: Industry Advisory Committee

Date and Location of Public Hearing, if any: May 16, 2007, 1:00 pm ET/ 12:00 pm CT via teleconference

Status of Proposed Rule (including upcoming meetings):  The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until May 14, 2007. Written requests for a public hearing must be received no later than April 3, 2007. The Proposed Standards are subject to Management Committee and Commission review, approval and adoption on June 1.

Date Approved by Management Committee: June 1, 2007

Date Adopted by Commission: June 1, 2007

Effective Date of Rule: September 6, 2007

Original Version: Individual Joint Last to Die Survivorship Whole Life Insurance Policy Standards

Link to Comments submitted by members and the public:
AARP Comments
IIPRC Industry Advisory Committee Comments
Kentucky Comments 
LISA Comments

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted August 2008

Date Amendment Approved by Management Committee: August 25, 2008

Date Amendment Adopted by Commission: August 27, 2008

Effective Date of Amendment to Rule: December 14, 2008

Information Regarding the Amendment to the Standards:

Name of Proposed Rule: Amendments to Actuarial Memorandum Requirements Section

Subject Matter of Proposed Rule: The purpose of this rule is to amend the individual life insurance policy standards to relocate existing submission requirements related to the actuarial memorandum into a separate, independent section of the standards.  The objective of this amendment is to improve compliance with the actuarial submission requirements in product filings received by the Interstate Insurance Product Regulation Commission (?IIPRC?) and to simplify the product review and approval process.

Citation to Published Notices:  Notice of this Rule was published on May 1, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Actuarial Certification of Compliance

Subject Matter of Proposed Rule:  The purpose of this rule is to amend certain uniform standards by clarifying the requirement that certain elements of the actuarial memorandum be certified as compliant with NAIC model laws or regulations. This amendment would affect all individual life insurance policy standards that do not already contain a sample certification.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Underwriting Exclusions

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the Exclusions section of certain uniform standards. The amendment concerns the method of adding exclusions to a policy such that addition by policy amendment would be permitted, along with the existing methods of rider and endorsement. This amendment would also permit exclusions on the basis of foreign travel and foreign residency, subject to applicable law in the state where the policy is delivered or issued for delivery and subject to the general requirements for adding such exclusions. The amendment also prohibits excluding death benefits on the basis of risk of death as a result of war or activities of military service for applicants identified as members of the military in the application. The general requirements for adding exclusions are provided in the Standards for Forms Used to Exclude Policy Coverage Based on the Underwriting Process and the applicable individual policy standards.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008. 

Link to Comments submitted by members and the public:
Comments from the Industry Advisory Committee

Additional Amendment Proposed by the Product Standards Committee
Memo regarding Additional Amendment Proposed by the Product Standards Committee

Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Individual Joint Last to Die Survivorship Whole Life Insurance Policy Standards 

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Joint Last to Die Survivorship Whole Life Insurance Policy Standards  in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memofor a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand War Exclusion Amendment Adopted August 2016

Redline Version of Adopted Standard: Proposed War Exclusion Amendments

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Exclusions subsection of Section 3 Policy Provisions of certain Uniform Standards. The amendment deletes Subsection (1)(a)(ii) of the war exclusion provision. The amendment eliminates confusion and further clarifies that the Uniform Standards do not permit life insurance policies to contain a death benefit exclusion for known members of the military that die as a result of any act related to military service. Additionally, the term ?United States? will be added to Subsection (1)(a)( i) to clarify that this prohibition on war exclusions applies to members of the United States military, military reserves or the National Guard and not members of the military of another nation.

Citation to Published Notices: Notice of this rule was published on May 31, 2016.

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: June 29, 2016 during the Joint Management Committee and Commission teleconference. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 1, 2016. Written requests for a public hearing must be received no later than June 20, 2016

Date Approved by Management Committee: August 25, 2016

Date Adopted by Commission: August 25, 2016

Effective Date of Rule: December 5, 2016

Memos from Product Standards Committee:

Transmittal Memo

Link to Comments submitted by members and the public:

Connecticut Insurance Department?s Request to Amend the War Exclusion Provision in IIPRC Uniform Standards for Life Insurance Products, dated March 1, 2016 
Commissioner Cunningham?s Response to Connecticut?s Request dated March 4, 2016

IIPRC-L-07-I-3

Standard Checklist

Individual Single Premium Joint Last to Die Survivorship Whole Life Insurance Policy Standards Dec 5, 2016
Standard History

Subject Matter of Rule:  The Individual Single Premium Joint Last to Die Survivorship Whole Life Insurance Policy Standards (the ?Proposed Standards?) specify additional submission requirements, form requirements and policy provisions for traditional forms of individual joint last to die survivorship whole life insurance, including limited pay whole life insurance, which provide that the death benefit is payable upon the death of the last surviving insured to die. The Proposed Standards include required and optional provisions for applicable policy forms, such as any applicable exclusions, death benefit proceeds, grace period, incontestability, loans, reinstatement and right to examine. Plans that are interest sensitive with an account value, plans sold in connection with pre-need funeral arrangements and plans providing early duration reduced benefits are outside the scope of these standards.

Citation to Published Notices: Notice of the Proposed Standards was published on March 14, 2007

Name of persons requesting Public Hearing: Industry Advisory Committee

Date and Location of Public Hearing, if any: May 16, 2007, 1:00 pm ET/ 12:00 pm CT via teleconference

Status of Proposed Rule (including upcoming meetings):  The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until May 14, 2007. Written requests for a public hearing must be received no later than April 3, 2007. The Proposed Standards are subject to Management Committee and Commission review, approval and adoption on June 1.

Date Approved by Management Committee: June 1, 2007

Date Adopted by Commission: June 1, 2007

Effective Date of Rule: September 6, 2007

Original Version: Individual Single Premium Joint Last to Die Survivorship Whole Life Insurance Policy Standards

Link to Comments submitted by members and the public:
AARP Comments
IIPRC Industry Advisory Committee Comments
Kentucky Comments
LISA Comments

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted August 2008

Date Amendment Approved by Management Committee: August 25, 2008

Date Amendment Adopted by Commission: August 27, 2008

Effective Date of Amendment to Rule: December 14, 2008

Information Regarding the Amendment to the Standards:

Name of Proposed Rule: Amendments to Actuarial Memorandum Requirements Section

Subject Matter of Proposed Rule: The purpose of this rule is to amend the individual life insurance policy standards to relocate existing submission requirements related to the actuarial memorandum into a separate, independent section of the standards.  The objective of this amendment is to improve compliance with the actuarial submission requirements in product filings received by the Interstate Insurance Product Regulation Commission (?IIPRC?) and to simplify the product review and approval process.

Citation to Published Notices:  Notice of this Rule was published on May 1, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Actuarial Certification of Compliance

Subject Matter of Proposed Rule:  The purpose of this rule is to amend certain uniform standards by clarifying the requirement that certain elements of the actuarial memorandum be certified as compliant with NAIC model laws or regulations. This amendment would affect all individual life insurance policy standards that do not already contain a sample certification.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Underwriting Exclusions

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the Exclusions section of certain uniform standards. The amendment concerns the method of adding exclusions to a policy such that addition by policy amendment would be permitted, along with the existing methods of rider and endorsement. This amendment would also permit exclusions on the basis of foreign travel and foreign residency, subject to applicable law in the state where the policy is delivered or issued for delivery and subject to the general requirements for adding such exclusions. The amendment also prohibits excluding death benefits on the basis of risk of death as a result of war or activities of military service for applicants identified as members of the military in the application. The general requirements for adding exclusions are provided in the Standards for Forms Used to Exclude Policy Coverage Based on the Underwriting Process and the applicable individual policy standards.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008. 

Link to Comments submitted by members and the public:
Comments from the Industry Advisory Committee

Additional Amendment Proposed by the Product Standards Committee
Memo regarding Additional Amendment Proposed by the Product Standards Committee

Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Individual Single Premium Joint Last to Die Survivorship Whole Life Insurance Policy Standards

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Single Premium Joint Last to Die Survivorship Whole Life Insurance Policy Standards in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand War Exclusion Amendment Adopted August 2016

Redline Version of Adopted Standard: Proposed War Exclusion Amendments

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Exclusions subsection of Section 3 Policy Provisions of certain Uniform Standards. The amendment deletes Subsection (1)(a)(ii) of the war exclusion provision. The amendment eliminates confusion and further clarifies that the Uniform Standards do not permit life insurance policies to contain a death benefit exclusion for known members of the military that die as a result of any act related to military service. Additionally, the term ?United States? will be added to Subsection (1)(a)( i) to clarify that this prohibition on war exclusions applies to members of the United States military, military reserves or the National Guard and not members of the military of another nation.

Citation to Published Notices: Notice of this rule was published on May 31, 2016.

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: June 29, 2016 during the Joint Management Committee and Commission teleconference. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 1, 2016. Written requests for a public hearing must be received no later than June 20, 2016

Date Approved by Management Committee: August 25, 2016

Date Adopted by Commission: August 25, 2016

Effective Date of Rule: December 5, 2016

Memos from Product Standards Committee:

Transmittal Memo

Link to Comments submitted by members and the public:

Connecticut Insurance Department?s Request to Amend the War Exclusion Provision in IIPRC Uniform Standards for Life Insurance Products, dated March 1, 2016 
Commissioner Cunningham?s Response to Connecticut?s Request dated March 4, 2016

IIPRC-L-07-I-4

Standard Checklist

Additional Standards for Graded Death Benefit for Individual Whole Life Insurance Policies Nov 20, 2017
Standard History

Subject Matter of Proposed Rule:  The Additional Standards For Graded Death Benefit for Individual Whole Life Insurance Policies (the ?Proposed Standards?) specify additional submission requirements concerning early duration reduced death benefits where the period during which benefits for death from natural causes are reduced relative to some ultimate amount is not more than three years; applying to benefits that are built-in to whole life insurance policies or added to such policy forms by rider, amendment or endorsement.

Citation to Published Notices: Notice of this rule was published on August 6, 2010.

Name of persons requesting Public Hearing : Director Mary Jo Hudson, Chair

Date and Location of Public Hearing, if any: October 17, 2010, 1:00 ET at the Gaylord Palms Resort & Convention Center, 6000 W. Osceola Pkwy, Kissimmee, FL 34746-4414

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until October 5, 2010. Written requests for a public hearing must be received no later than August 26, 2010.

Date Approved by Management Committee: October 17, 2010

Date Adopted by Commission: October 17, 2010

Effective Date of Rule: January 15, 2011

Original Version: Additional Standards for Graded Death Benefit for Individual Whole Life Insurance Policies

Memos from the Product Standards Committee:

Link to Comments submitted by members and the public:

This rule has been amended.

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted August 2017

Redlined Version of Adopted Standard: Additional Standards for Graded Death Benefits for Individual Whole Life Uniform Standards

Subject Matter of Proposed Rule: The purpose of these amendments is to revise the Operating Procedures and Uniform Standards effective between January 1, 2011 and July 1, 2011 in accordance with the Five-Year Commission Review of Rules required by ?119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the Five-Year Review process limit the scope of review under ?119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.? See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on March 23, 2017

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: June 26, 2017 at 1:30 pm ET / 12:30 pm CT via teleconference

Status of Proposed Rule (including Upcoming Meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until May 22, 2017. Written requests for a public hearing must be received no later than April 12, 2017.

Date Amendment Approved by Management Committee: August 5, 2017

Date Amendment Adopted by Commission: August 5, 2017

Effective Date of Rule: November 20, 2017

Memos from Product Standards Committee:

Link to Comments Submitted by Members and the Public:

IIPRC-L-07-I-5

Standard Checklist

Individual Current Assumption Whole Life Insurance Policy Standards Dec 5, 2016
Standard History

Subject Matter of Proposed Rule:   The Individual Current Assumption Whole Life Insurance Policy Standards (the ?Proposed Standards?) specify submission requirements, form requirements and policy provisions for individual current assumption whole life insurance, including limited pay policies. The Proposed Standards include required and optional provisions for applicable policy forms, such as any applicable exclusions, death benefit proceeds, grace period, incontestability, loans and right to examine. I?d suggest changing the font in this paragraph to match the others.

Certain portions of the Proposed Standards are also proposed to be conforming amendments to each of the uniform standards adopted by the Interstate Insurance Product Regulation Commission on December 8, 2006: Flexible Premium Adjustable Life Policy Standards, Joint Last to Die Survivorship Flexible Premium Adjustable Life, Flexible Premium Variable Adjustable Life, Joint Last to Die Survivorship Flexible Premium Variable Adjustable Life, and Modified Single Premium Adjustable Life. For further information, please refer to the published notice of the Proposed Standards.

Citation to Published Notices:  Notice of this Rule was published on April 27, 2007.

Name of persons requesting Public Hearing :

Date and Location of Public Hearing, if any: September 27, 2007, Marriott Wardman Park Hotel, 2600 Woodley Road, NW Washington DC

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until June 26, 2007. Written requests for a public hearing must be received no later than May 17, 2007.

Date Approved by Management Committee: September 27, 2007

Date Adopted by Commission: September 28, 2007

Effective Date of Rule: January 3, 2008

Original Version: Individual Current Assumption Whole Life Insurance Policy Standards and Conforming Amendments to Individual Adjustable Life Standards

Link to Comments submitted by members and the public:
Comments from the Industry Advisory Committee

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted August 2008

Date Amendment Approved by Management Committee: August 25, 2008

Date Amendment Adopted by Commission: August 27, 2008

Effective Date of Amendment to Rule: December 14, 2008

Information Regarding the Amendment to the Standards:

Name of Proposed Rule: Amendments to Actuarial Memorandum Requirements Section

Subject Matter of Proposed Rule: The purpose of this rule is to amend the individual life insurance policy standards to relocate existing submission requirements related to the actuarial memorandum into a separate, independent section of the standards.  The objective of this amendment is to improve compliance with the actuarial submission requirements in product filings received by the Interstate Insurance Product Regulation Commission (?IIPRC?) and to simplify the product review and approval process.

Citation to Published Notices:  Notice of this Rule was published on May 1, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Actuarial Certification of Compliance

Subject Matter of Proposed Rule:  The purpose of this rule is to amend certain uniform standards by clarifying the requirement that certain elements of the actuarial memorandum be certified as compliant with NAIC model laws or regulations. This amendment would affect all individual life insurance policy standards that do not already contain a sample certification.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Underwriting Exclusions

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the Exclusions section of certain uniform standards. The amendment concerns the method of adding exclusions to a policy such that addition by policy amendment would be permitted, along with the existing methods of rider and endorsement. This amendment would also permit exclusions on the basis of foreign travel and foreign residency, subject to applicable law in the state where the policy is delivered or issued for delivery and subject to the general requirements for adding such exclusions. The amendment also prohibits excluding death benefits on the basis of risk of death as a result of war or activities of military service for applicants identified as members of the military in the application. The general requirements for adding exclusions are provided in the Standards for Forms Used to Exclude Policy Coverage Based on the Underwriting Process and the applicable individual policy standards.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008. 

Link to Comments submitted by members and the public:
Comments from the Industry Advisory Committee

Additional Amendment Proposed by the Product Standards Committee
Memo regarding Additional Amendment Proposed by the Product Standards Committee

Name of Proposed Rule: Amendments to the Individual Current Assumption Whole Life Insurance Policy Standards

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the Scope section of the Individual Current Assumption Whole Life Insurance Policy Standards. The amendment would relocate two existing sentences from the second paragraph of the Scope section to the end of the first paragraph. This is intended to clarify that these standards do apply to the product features described in these sentences. This amendment would also delete the existing Appendix B and renumber accordingly because the actuarial demonstration contained in this appendix does not correspond to the demonstration called for in paragraph 6A of the actuarial submission requirements within the body of these standards.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Individual Current Assumption Whole Life Insurance Policy Standards and Conforming Amendments to Individual Adjustable Life Standards 

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Current Assumption Whole Life Insurance Policy Standards and Conforming Amendments to Individual Adjustable Life Standards  in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand War Exclusion Amendment Adopted August 2016

Redline Version of Adopted Standard: Proposed War Exclusion Amendments

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Exclusions subsection of Section 3 Policy Provisions of certain Uniform Standards. The amendment deletes Subsection (1)(a)(ii) of the war exclusion provision. The amendment eliminates confusion and further clarifies that the Uniform Standards do not permit life insurance policies to contain a death benefit exclusion for known members of the military that die as a result of any act related to military service. Additionally, the term ?United States? will be added to Subsection (1)(a)( i) to clarify that this prohibition on war exclusions applies to members of the United States military, military reserves or the National Guard and not members of the military of another nation.

Citation to Published Notices: Notice of this rule was published on May 31, 2016.

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: June 29, 2016 during the Joint Management Committee and Commission teleconference. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 1, 2016. Written requests for a public hearing must be received no later than June 20, 2016

Date Approved by Management Committee: August 25, 2016

Date Adopted by Commission: August 25, 2016

Effective Date of Rule: December 5, 2016

Memos from Product Standards Committee:

Transmittal Memo

Link to Comments submitted by members and the public:

Connecticut Insurance Department?s Request to Amend the War Exclusion Provision in IIPRC Uniform Standards for Life Insurance Products, dated March 1, 2016 
Commissioner Cunningham?s Response to Connecticut?s Request dated March 4, 2016

Click to Expand INDIVIDUAL ENDOWMENT INSURANCE PRODUCT LINE
Citation NumberName of Standard/ProcedureEffective Date
IIPRC-L-02-I

Standard Checklist

Individual Endowment Insurance Policy Standards Dec 5, 2016
Standard History

Subject Matter of Proposed Rule: The Individual Endowment Insurance Policy Standards specify submission requirements, form requirements and policy provisions for individual endowment insurance policies; including limited pay endowment insurance except for single premium endowment insurance policy standards. Plans that are interest sensitive with an account value, plans that provide joint and last to die survivorship coverage, plans sold in connection with pre-need funeral arrangements, plans providing early duration reduced benefits, or plans providing return of premium benefits shall not be submitted under these standards.

Citation to Published Notices:  Notice of this Rule was published on June 27, 2007.

Name of persons requesting Public Hearing :

Date and Location of Public Hearing, if any: September 27, 2007, Marriott Wardman Park Hotel, 2600 Woodley Road, NW Washington DC

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 26, 2007. Written requests for a public hearing must be received no later than July 17, 2007.

Date Approved by Management Committee: September 27, 2007

Date Adopted by Commission: September 28, 2007

Effective Date of Rule: January 3, 2008

Original Version: Individual Endowment Insurance Policy Standards

Link to Comments submitted by members and the public:

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted August 2008

Date Amendment Approved by Management Committee: August 25, 2008

Date Amendment Adopted by Commission: August 27, 2008

Effective Date of Amendment to Rule: December 14, 2008

Information Regarding the Amendment to the Standards:

Name of Proposed Rule: Amendments to Actuarial Memorandum Requirements Section

Subject Matter of Proposed Rule: The purpose of this rule is to amend the individual life insurance policy standards to relocate existing submission requirements related to the actuarial memorandum into a separate, independent section of the standards.  The objective of this amendment is to improve compliance with the actuarial submission requirements in product filings received by the Interstate Insurance Product Regulation Commission (?IIPRC?) and to simplify the product review and approval process.

Citation to Published Notices:  Notice of this Rule was published on May 1, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Actuarial Certification of Compliance

Subject Matter of Proposed Rule:  The purpose of this rule is to amend certain uniform standards by clarifying the requirement that certain elements of the actuarial memorandum be certified as compliant with NAIC model laws or regulations. This amendment would affect all individual life insurance policy standards that do not already contain a sample certification.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Underwriting Exclusions

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the Exclusions section of certain uniform standards. The amendment concerns the method of adding exclusions to a policy such that addition by policy amendment would be permitted, along with the existing methods of rider and endorsement. This amendment would also permit exclusions on the basis of foreign travel and foreign residency, subject to applicable law in the state where the policy is delivered or issued for delivery and subject to the general requirements for adding such exclusions. The amendment also prohibits excluding death benefits on the basis of risk of death as a result of war or activities of military service for applicants identified as members of the military in the application. The general requirements for adding exclusions are provided in the Standards for Forms Used to Exclude Policy Coverage Based on the Underwriting Process and the applicable individual policy standards.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008. 

Link to Comments submitted by members and the public:
Comments from the Industry Advisory Committee

Additional Amendment Proposed by the Product Standards Committee
Memo regarding Additional Amendment Proposed by the Product Standards Committee

Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Individual Endowment Insurance Policy Standards

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Endowment Insurance Policy Standards in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand War Exclusion Amendment Adopted August 2016

Redline Version of Adopted Standard: Proposed War Exclusion Amendments

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Exclusions subsection of Section 3 Policy Provisions of certain Uniform Standards. The amendment deletes Subsection (1)(a)(ii) of the war exclusion provision. The amendment eliminates confusion and further clarifies that the Uniform Standards do not permit life insurance policies to contain a death benefit exclusion for known members of the military that die as a result of any act related to military service. Additionally, the term ?United States? will be added to Subsection (1)(a)( i) to clarify that this prohibition on war exclusions applies to members of the United States military, military reserves or the National Guard and not members of the military of another nation.

Citation to Published Notices: Notice of this rule was published on May 31, 2016.

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: June 29, 2016 during the Joint Management Committee and Commission teleconference. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 1, 2016. Written requests for a public hearing must be received no later than June 20, 2016

Date Approved by Management Committee: August 25, 2016

Date Adopted by Commission: August 25, 2016

Effective Date of Rule: December 5, 2016

Memos from Product Standards Committee:

Transmittal Memo

Link to Comments submitted by members and the public:

Connecticut Insurance Department?s Request to Amend the War Exclusion Provision in IIPRC Uniform Standards for Life Insurance Products, dated March 1, 2016 
Commissioner Cunningham?s Response to Connecticut?s Request dated March 4, 2016

IIPRC-L-02-I-1

Standard Checklist

Individual Single Premium Endowment Insurance Policy Standards Dec 5, 2016
Standard History

Subject Matter of Proposed Rule: The Individual Single Premium Endowment Insurance Policy Standards specify submission requirements, form requirements and policy provisions for individual single premium endowment insurance policies. Plans that are interest sensitive with an account value, plans that provide joint and last to die survivorship coverage, plans sold in connection with pre-need funeral arrangements, or plans providing early duration reduced benefits shall not be submitted under these standards.

Citation to Published Notices:  Notice of this Rule was published on June 27, 2007.

Name of persons requesting Public Hearing :

Date and Location of Public Hearing, if any: September 27, 2007, Marriott Wardman Park Hotel, 2600 Woodley Road, NW Washington DC

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 26, 2007. Written requests for a public hearing must be received no later than July 17, 2007.

Date Approved by Management Committee: September, 27 2007

Date Adopted by Commission: September 28,2007

Effective Date of Rule: January 3, 2008

Original Version: Individual Single Premium Endowment Insurance Policy Standards

Link to Comments submitted by members and the public:

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted August 2008

Date Amendment Approved by Management Committee: August 25, 2008

Date Amendment Adopted by Commission: August 27, 2008

Effective Date of Amendment to Rule: December 14, 2008

Information Regarding the Amendment to the Standards:

Name of Proposed Rule: Amendments to Actuarial Memorandum Requirements Section

Subject Matter of Proposed Rule: The purpose of this rule is to amend the individual life insurance policy standards to relocate existing submission requirements related to the actuarial memorandum into a separate, independent section of the standards.  The objective of this amendment is to improve compliance with the actuarial submission requirements in product filings received by the Interstate Insurance Product Regulation Commission (?IIPRC?) and to simplify the product review and approval process.

Citation to Published Notices:  Notice of this Rule was published on May 1, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Actuarial Certification of Compliance

Subject Matter of Proposed Rule:  The purpose of this rule is to amend certain uniform standards by clarifying the requirement that certain elements of the actuarial memorandum be certified as compliant with NAIC model laws or regulations. This amendment would affect all individual life insurance policy standards that do not already contain a sample certification.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Underwriting Exclusions

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the Exclusions section of certain uniform standards. The amendment concerns the method of adding exclusions to a policy such that addition by policy amendment would be permitted, along with the existing methods of rider and endorsement. This amendment would also permit exclusions on the basis of foreign travel and foreign residency, subject to applicable law in the state where the policy is delivered or issued for delivery and subject to the general requirements for adding such exclusions. The amendment also prohibits excluding death benefits on the basis of risk of death as a result of war or activities of military service for applicants identified as members of the military in the application. The general requirements for adding exclusions are provided in the Standards for Forms Used to Exclude Policy Coverage Based on the Underwriting Process and the applicable individual policy standards.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008. 

Link to Comments submitted by members and the public:
Comments from the Industry Advisory Committee

Additional Amendment Proposed by the Product Standards Committee
Memo regarding Additional Amendment Proposed by the Product Standards Committee

Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Individual Single Premium Endowment Insurance Policy Standards 

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Single Premium Endowment Insurance Policy Standards  in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand War Exclusion Amendment Adopted August 2016

Redline Version of Adopted Standard: Proposed War Exclusion Amendments

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Exclusions subsection of Section 3 Policy Provisions of certain Uniform Standards. The amendment deletes Subsection (1)(a)(ii) of the war exclusion provision. The amendment eliminates confusion and further clarifies that the Uniform Standards do not permit life insurance policies to contain a death benefit exclusion for known members of the military that die as a result of any act related to military service. Additionally, the term ?United States? will be added to Subsection (1)(a)( i) to clarify that this prohibition on war exclusions applies to members of the United States military, military reserves or the National Guard and not members of the military of another nation.

Citation to Published Notices: Notice of this rule was published on May 31, 2016.

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: June 29, 2016 during the Joint Management Committee and Commission teleconference. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 1, 2016. Written requests for a public hearing must be received no later than June 20, 2016

Date Approved by Management Committee: August 25, 2016

Date Adopted by Commission: August 25, 2016

Effective Date of Rule: December 5, 2016

Memos from Product Standards Committee:

Transmittal Memo

Link to Comments submitted by members and the public:

Connecticut Insurance Department?s Request to Amend the War Exclusion Provision in IIPRC Uniform Standards for Life Insurance Products, dated March 1, 2016 
Commissioner Cunningham?s Response to Connecticut?s Request dated March 4, 2016

IIPRC-L-02-I-2

Standard Checklist

Individual Joint Last To Die Survivorship Endowment Insurance Policy Standards Dec 5, 2016
Standard History

Subject Matter of Proposed Rule:  The Individual Joint Last To Die Survivorship Endowment Insurance Policy Standards specify submission requirements, form requirements and policy provisions for individual joint last to die survivorship endowment insurance policies, which provide that the death benefit is payable upon the death of the last surviving insured to die, including limited pay endowment insurance except for single premium endowment insurance policy standards. Plans that are interest sensitive with an account value, plans sold in connection with pre-need funeral arrangements, plans providing early duration reduced benefits, or plans providing return of premium benefits that have endowment-like features shall not be submitted under these standards.

Citation to Published Notices:  Notice of this Rule was published on June 27, 2007.

Name of persons requesting Public Hearing :

Date and Location of Public Hearing, if any: September 27, 2007, Marriott Wardman Park Hotel, 2600 Woodley Road, NW Washington DC

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 26, 2007. Written requests for a public hearing must be received no later than July 17, 2007.

Date Approved by Management Committee: September 27, 2007

Date Adopted by Commission: September 28, 2007

Effective Date of Rule: January 3, 2008

Original Version: Individual Joint Last To Die Survivorship Endowment Insurance Policy Standards

Link to Comments submitted by members and the public:

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted August 2008

Date Amendment Approved by Management Committee: August 25, 2008

Date Amendment Adopted by Commission: August 27, 2008

Effective Date of Amendment to Rule: December 14, 2008

Information Regarding the Amendment to the Standards:

Name of Proposed Rule: Amendments to Actuarial Memorandum Requirements Section

Subject Matter of Proposed Rule: The purpose of this rule is to amend the individual life insurance policy standards to relocate existing submission requirements related to the actuarial memorandum into a separate, independent section of the standards.  The objective of this amendment is to improve compliance with the actuarial submission requirements in product filings received by the Interstate Insurance Product Regulation Commission (?IIPRC?) and to simplify the product review and approval process.

Citation to Published Notices:  Notice of this Rule was published on May 1, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Actuarial Certification of Compliance

Subject Matter of Proposed Rule:  The purpose of this rule is to amend certain uniform standards by clarifying the requirement that certain elements of the actuarial memorandum be certified as compliant with NAIC model laws or regulations. This amendment would affect all individual life insurance policy standards that do not already contain a sample certification.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Underwriting Exclusions

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the Exclusions section of certain uniform standards. The amendment concerns the method of adding exclusions to a policy such that addition by policy amendment would be permitted, along with the existing methods of rider and endorsement. This amendment would also permit exclusions on the basis of foreign travel and foreign residency, subject to applicable law in the state where the policy is delivered or issued for delivery and subject to the general requirements for adding such exclusions. The amendment also prohibits excluding death benefits on the basis of risk of death as a result of war or activities of military service for applicants identified as members of the military in the application. The general requirements for adding exclusions are provided in the Standards for Forms Used to Exclude Policy Coverage Based on the Underwriting Process and the applicable individual policy standards.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008. 

Link to Comments submitted by members and the public:
Comments from the Industry Advisory Committee

Additional Amendment Proposed by the Product Standards Committee
Memo regarding Additional Amendment Proposed by the Product Standards Committee

Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Individual Joint Last to Die Survivorship Endowment Insurance Policy Standards

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Joint Last to Die Survivorship Endowment Insurance Policy Standards in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memofor a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand War Exclusion Amendment Adopted August 2016

Redline Version of Adopted Standard: Proposed War Exclusion Amendments

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Exclusions subsection of Section 3 Policy Provisions of certain Uniform Standards. The amendment deletes Subsection (1)(a)(ii) of the war exclusion provision. The amendment eliminates confusion and further clarifies that the Uniform Standards do not permit life insurance policies to contain a death benefit exclusion for known members of the military that die as a result of any act related to military service. Additionally, the term ?United States? will be added to Subsection (1)(a)( i) to clarify that this prohibition on war exclusions applies to members of the United States military, military reserves or the National Guard and not members of the military of another nation.

Citation to Published Notices: Notice of this rule was published on May 31, 2016.

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: June 29, 2016 during the Joint Management Committee and Commission teleconference. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 1, 2016. Written requests for a public hearing must be received no later than June 20, 2016

Date Approved by Management Committee: August 25, 2016

Date Adopted by Commission: August 25, 2016

Effective Date of Rule: December 5, 2016

Memos from Product Standards Committee:

Transmittal Memo

Link to Comments submitted by members and the public:

Connecticut Insurance Department?s Request to Amend the War Exclusion Provision in IIPRC Uniform Standards for Life Insurance Products, dated March 1, 2016 
Commissioner Cunningham?s Response to Connecticut?s Request dated March 4, 2016

IIPRC-L-02-I-3

Standard Checklist

Individual Single Premium Joint Last To Die Survivorship Endowment Insurance Policy Standards Dec 5, 2016
Standard History

Subject Matter of Proposed Rule:  The Individual Single Premium Joint Last To Die Survivorship Endowment Insurance Policy Standards specify submission requirements, form requirements and policy provisions for traditional forms of individual single premium joint last to die survivorship endowment insurance which provide that the death benefit is payable upon the death of the last surviving insured to die. Plans that are interest sensitive with an account value, plans sold in connection with pre-need funeral arrangements, or plans providing early duration reduced benefits shall not be submitted under these standards.

Citation to Published Notices:  Notice of this Rule was published on June 27, 2007.

Name of persons requesting Public Hearing :

Date and Location of Public Hearing, if any: September 27, 2007, Marriott Wardman Park Hotel, 2600 Woodley Road, NW Washington DC

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 26, 2007. Written requests for a public hearing must be received no later than July 17, 2007.

Date Approved by Management Committee:  September 27, 2007

Date Adopted by Commission:  September 28, 2007

Effective Date of Rule: January 3, 2008

Original Version: Individual Single Premium Joint Last To Die Survivorship Endowment Insurance Policy Standards

Link to Comments submitted by members and the public:

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted August 2008

Date Amendment Approved by Management Committee: August 25, 2008

Date Amendment Adopted by Commission: August 27, 2008

Effective Date of Amendment to Rule: December 14, 2008

Information Regarding the Amendment to the Standards:

Name of Proposed Rule: Amendments to Actuarial Memorandum Requirements Section

Subject Matter of Proposed Rule: The purpose of this rule is to amend the individual life insurance policy standards to relocate existing submission requirements related to the actuarial memorandum into a separate, independent section of the standards.  The objective of this amendment is to improve compliance with the actuarial submission requirements in product filings received by the Interstate Insurance Product Regulation Commission (?IIPRC?) and to simplify the product review and approval process.

Citation to Published Notices:  Notice of this Rule was published on May 1, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Actuarial Certification of Compliance

Subject Matter of Proposed Rule:  The purpose of this rule is to amend certain uniform standards by clarifying the requirement that certain elements of the actuarial memorandum be certified as compliant with NAIC model laws or regulations. This amendment would affect all individual life insurance policy standards that do not already contain a sample certification.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Underwriting Exclusions

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the Exclusions section of certain uniform standards. The amendment concerns the method of adding exclusions to a policy such that addition by policy amendment would be permitted, along with the existing methods of rider and endorsement. This amendment would also permit exclusions on the basis of foreign travel and foreign residency, subject to applicable law in the state where the policy is delivered or issued for delivery and subject to the general requirements for adding such exclusions. The amendment also prohibits excluding death benefits on the basis of risk of death as a result of war or activities of military service for applicants identified as members of the military in the application. The general requirements for adding exclusions are provided in the Standards for Forms Used to Exclude Policy Coverage Based on the Underwriting Process and the applicable individual policy standards.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008. 

Link to Comments submitted by members and the public:
Comments from the Industry Advisory Committee

Additional Amendment Proposed by the Product Standards Committee
Memo regarding Additional Amendment Proposed by the Product Standards Committee

Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Individual Single Premium Joint Last to Die Survivorship Endowment Insurance Policy Standards 

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Single Premium Joint Last to Die Survivorship Endowment Insurance Policy Standards  in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand War Exclusion Amendment Adopted August 2016

Redline Version of Adopted Standard: Proposed War Exclusion Amendments

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Exclusions subsection of Section 3 Policy Provisions of certain Uniform Standards. The amendment deletes Subsection (1)(a)(ii) of the war exclusion provision. The amendment eliminates confusion and further clarifies that the Uniform Standards do not permit life insurance policies to contain a death benefit exclusion for known members of the military that die as a result of any act related to military service. Additionally, the term ?United States? will be added to Subsection (1)(a)( i) to clarify that this prohibition on war exclusions applies to members of the United States military, military reserves or the National Guard and not members of the military of another nation.

Citation to Published Notices: Notice of this rule was published on May 31, 2016.

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: June 29, 2016 during the Joint Management Committee and Commission teleconference. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 1, 2016. Written requests for a public hearing must be received no later than June 20, 2016

Date Approved by Management Committee: August 25, 2016

Date Adopted by Commission: August 25, 2016

Effective Date of Rule: December 5, 2016

Memos from Product Standards Committee:

Transmittal Memo

Link to Comments submitted by members and the public:

Connecticut Insurance Department?s Request to Amend the War Exclusion Provision in IIPRC Uniform Standards for Life Insurance Products, dated March 1, 2016 
Commissioner Cunningham?s Response to Connecticut?s Request dated March 4, 2016

Click to Expand INDIVIDUAL NON-VARIABLE ADJUSTABLE LIFE INSURANCE PRODUCT LINE
Citation NumberName of Standard/ProcedureEffective Date
IIPRC-L-09-I

Standard Checklist

Individual Flexible Premium Adjustable Life Insurance Policy Standards Dec 5, 2016
Standard History

Subject Matter of Rule:  The purpose of this rule is to establish reasonable uniform standards for Individual Flexible Premium Adjustable Life products filed with the Interstate Insurance Product Regulation Commission (?IIPRC?). A Flexible Premium Adjustable Life policy allows the owner to vary the amount and/or timing of premium payments and may allow the owner to adjust the amount of insurance. The policy provides for an optionally paid ?planned? premium selected by the owner, and may provide more than one death benefit option (for example, the Specified Amount, the Specified Amount plus Account Value and the Specified Amount plus Return of Premium). The policy operates with a monthly deduction (which includes the cost of insurance and other charges) being deducted from the account value of the policy. Monthly deductions continue until the value is insufficient to cover the current monthly deduction due. The policy then terminates, subject to a grace period of at least 60 days.

Comparison Version Highlighting the Conforming Amendments

Date Approved by Management Committee: December 8, 2006

Date Adopted by Commission: December 8, 2006

Effective Date of Rule: April 5, 2007

Date Amended Version Approved by the Management Committee: June 1, 2007

Date Amended Version Adopted by Commission: June 1, 2007

Effective Date of Amended Rule: September 30, 2007

Original Version: Individual Flexible Premium Adjustable Life Insurance Policy Standards

Link to Comments submitted by members and the public:

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted August 2008

Date Amendment Approved by Management Committee: August 25, 2008

Date Amendment Adopted by Commission: August 27, 2008

Effective Date of Amendment to Rule: December 14, 2008

Information Regarding the Amendment to the Standards:

Name of Proposed Rule: Amendments to Actuarial Memorandum Requirements Section

Subject Matter of Proposed Rule: The purpose of this rule is to amend the individual life insurance policy standards to relocate existing submission requirements related to the actuarial memorandum into a separate, independent section of the standards.  The objective of this amendment is to improve compliance with the actuarial submission requirements in product filings received by the Interstate Insurance Product Regulation Commission (?IIPRC?) and to simplify the product review and approval process.

Citation to Published Notices:  Notice of this Rule was published on May 1, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Underwriting Exclusions

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the Exclusions section of certain uniform standards. The amendment concerns the method of adding exclusions to a policy such that addition by policy amendment would be permitted, along with the existing methods of rider and endorsement. This amendment would also permit exclusions on the basis of foreign travel and foreign residency, subject to applicable law in the state where the policy is delivered or issued for delivery and subject to the general requirements for adding such exclusions. The amendment also prohibits excluding death benefits on the basis of risk of death as a result of war or activities of military service for applicants identified as members of the military in the application. The general requirements for adding exclusions are provided in the Standards for Forms Used to Exclude Policy Coverage Based on the Underwriting Process and the applicable individual policy standards.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008. 

Link to Comments submitted by members and the public:
Comments from the Industry Advisory Committee

Additional Amendment Proposed by the Product Standards Committee
Memo regarding Additional Amendment Proposed by the Product Standards Committee

Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Individual Flexible Premium Adjustable Life Insurance Policy Standards

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Flexible Premium Adjustable Life Insurance Policy Standards in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand War Exclusion Amendment Adopted August 2016

Redline Version of Adopted Standard: Proposed War Exclusion Amendments

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Exclusions subsection of Section 3 Policy Provisions of certain Uniform Standards. The amendment deletes Subsection (1)(a)(ii) of the war exclusion provision. The amendment eliminates confusion and further clarifies that the Uniform Standards do not permit life insurance policies to contain a death benefit exclusion for known members of the military that die as a result of any act related to military service. Additionally, the term ?United States? will be added to Subsection (1)(a)( i) to clarify that this prohibition on war exclusions applies to members of the United States military, military reserves or the National Guard and not members of the military of another nation.

Citation to Published Notices: Notice of this rule was published on May 31, 2016.

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: June 29, 2016 during the Joint Management Committee and Commission teleconference. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 1, 2016. Written requests for a public hearing must be received no later than June 20, 2016

Date Approved by Management Committee: August 25, 2016

Date Adopted by Commission: August 25, 2016

Effective Date of Rule: December 5, 2016

Memos from Product Standards Committee:

Transmittal Memo

Link to Comments submitted by members and the public:

Connecticut Insurance Department?s Request to Amend the War Exclusion Provision in IIPRC Uniform Standards for Life Insurance Products, dated March 1, 2016 
Commissioner Cunningham?s Response to Connecticut?s Request dated March 4, 2016

IIPRC-L-09-I-1

Standard Checklist

Individual Modified Single Premium Adjustable Life Insurance Policy Standards Dec 5, 2016
Standard History

Subject Matter of Rule:   The purpose of this rule is to establish reasonable uniform standards for Individual Single Premium Modified Adjustable Life products filed with the Interstate Insurance Product Regulation Commission (?IIPRC?). A Modified Single Premium Adjustable Life policy allows the owner to pay a single premium at issue of at least 80% of the single premium necessary to comply with either the federal Guideline Single Premium Test or the federal Cash Value Accumulation Test, as applicable for the plan. Subsequent to issue the owner is generally permitted to pay any balance of the single premium necessary. The policy may allow the owner to adjust the amount of insurance. and may provide more than one death benefit option (for example, the Specified Amount, the Specified Amount plus Account Value and the Specified Amount plus Return of Premium). The policy operates with a monthly deduction (which includes the cost of insurance and other charges) being deducted from the account value of the policy. Monthly deductions continue until the value is insufficient to cover the current monthly deduction due. The policy then terminates, subject to a grace period of at least 60 days.

Comparison Version Highlighting the Conforming Amendments

Date Approved by Management Committee: December 8, 2006

Date Adopted by Commission: December 8, 2006

Effective Date of Rule: April 5, 2007

Original Version: Individual Modified Single Premium Adjustable Life Insurance Policy Standards

Date Amended Version Approved by the Management Committee: June 1, 2007

Date Amended Version Adopted by Commission: June 1, 2007

Effective Date of Amended Rule: September 30, 2007

Link to Comments submitted by members and the public:

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted August 2008

Date Amendment Approved by Management Committee: August 25, 2008

Date Amendment Adopted by Commission: August 27, 2008

Effective Date of Amendment to Rule: December 14, 2008

Information Regarding the Amendment to the Standards:

Name of Proposed Rule: Amendments to Actuarial Memorandum Requirements Section

Subject Matter of Proposed Rule: The purpose of this rule is to amend the individual life insurance policy standards to relocate existing submission requirements related to the actuarial memorandum into a separate, independent section of the standards.  The objective of this amendment is to improve compliance with the actuarial submission requirements in product filings received by the Interstate Insurance Product Regulation Commission (?IIPRC?) and to simplify the product review and approval process.

Citation to Published Notices:  Notice of this Rule was published on May 1, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Underwriting Exclusions

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the Exclusions section of certain uniform standards. The amendment concerns the method of adding exclusions to a policy such that addition by policy amendment would be permitted, along with the existing methods of rider and endorsement. This amendment would also permit exclusions on the basis of foreign travel and foreign residency, subject to applicable law in the state where the policy is delivered or issued for delivery and subject to the general requirements for adding such exclusions. The amendment also prohibits excluding death benefits on the basis of risk of death as a result of war or activities of military service for applicants identified as members of the military in the application. The general requirements for adding exclusions are provided in the Standards for Forms Used to Exclude Policy Coverage Based on the Underwriting Process and the applicable individual policy standards.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008. 

Link to Comments submitted by members and the public:
Comments from the Industry Advisory Committee

Additional Amendment Proposed by the Product Standards Committee
Memo regarding Additional Amendment Proposed by the Product Standards Committee

Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Individual Modified Single Premium Adjustable Life Insurance Policy Standards

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Modified Single Premium Adjustable Life Insurance Policy Standards in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memofor a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand War Exclusion Amendment Adopted August 2016.

Redline Version of Adopted Standard: Proposed War Exclusion Amendments

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Exclusions subsection of Section 3 Policy Provisions of certain Uniform Standards. The amendment deletes Subsection (1)(a)(ii) of the war exclusion provision. The amendment eliminates confusion and further clarifies that the Uniform Standards do not permit life insurance policies to contain a death benefit exclusion for known members of the military that die as a result of any act related to military service. Additionally, the term ?United States? will be added to Subsection (1)(a)( i) to clarify that this prohibition on war exclusions applies to members of the United States military, military reserves or the National Guard and not members of the military of another nation.

Citation to Published Notices: Notice of this rule was published on May 31, 2016.

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: June 29, 2016 during the Joint Management Committee and Commission teleconference. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 1, 2016. Written requests for a public hearing must be received no later than June 20, 2016

Date Approved by Management Committee: August 25, 2016

Date Adopted by Commission: August 25, 2016

Effective Date of Rule: December 5, 2016

Memos from Product Standards Committee:

Transmittal Memo

Link to Comments submitted by members and the public:

Connecticut Insurance Department?s Request to Amend the War Exclusion Provision in IIPRC Uniform Standards for Life Insurance Products, dated March 1, 2016 
Commissioner Cunningham?s Response to Connecticut?s Request dated March 4, 2016

IIPRC-L-09-I-2

Standard Checklist

Individual Joint Last to Die Survivorship Flexible Premium Adjustable Life Insurance Policy Standards Dec 5, 2016
Standard History

Subject Matter of Rule: The purpose of this rule is to establish reasonable uniform standards for Individual Joint Last to Die Survivorship Flexible Premium Adjustable Life products filed with the Interstate Insurance Product Regulation Commission (?Commission?). A Flexible Premium Adjustable Life policy allows the owner to vary the amount and/or timing of premium payments and may allow the owner to adjust the amount of insurance. As survivorship coverage the policy provides that the death benefit is payable upon the death of the last surviving insured to die. The policy provides for an optionally paid ?planned? premium selected by the owner, and may provide more than one death benefit option (for example, the Specified Amount, the Specified Amount plus Account Value and the Specified Amount plus Return of Premium). The policy operates with a monthly deduction (which includes the cost of insurance and other charges) being deducted from the account value of the policy. Monthly deductions continue until the value is insufficient to cover the current monthly deduction due. The policy then terminates, subject to a grace period of at least 60 days.

Comparison Version Highlighting the Conforming Amendments

Date Approved by Management Committee: December 8, 2006

Date Adopted by Commission: December 8, 2006

Effective Date of Rule: April 5, 2007

Original Version: Individual Joint Last to Die Survivorship Flexible Premium Adjustable Life Insurance Policy Standards

Date Amended Version Approved by the Management Committee: June 1, 2007

Date Amended Version Adopted by Commission: June 1, 2007

Effective Date of Amended Rule: September 30, 2007

Link to Comments submitted by members and the public:

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted August 2008

Date Amendment Approved by Management Committee: August 25, 2008

Date Amendment Adopted by Commission: August 27, 2008

Effective Date of Amendment to Rule: December 14, 2008

Information Regarding the Amendment to the Standards:

Name of Proposed Rule: Amendments to Actuarial Memorandum Requirements Section

Subject Matter of Proposed Rule: The purpose of this rule is to amend the individual life insurance policy standards to relocate existing submission requirements related to the actuarial memorandum into a separate, independent section of the standards.  The objective of this amendment is to improve compliance with the actuarial submission requirements in product filings received by the Interstate Insurance Product Regulation Commission (?IIPRC?) and to simplify the product review and approval process.

Citation to Published Notices:  Notice of this Rule was published on May 1, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Underwriting Exclusions

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the Exclusions section of certain uniform standards. The amendment concerns the method of adding exclusions to a policy such that addition by policy amendment would be permitted, along with the existing methods of rider and endorsement. This amendment would also permit exclusions on the basis of foreign travel and foreign residency, subject to applicable law in the state where the policy is delivered or issued for delivery and subject to the general requirements for adding such exclusions. The amendment also prohibits excluding death benefits on the basis of risk of death as a result of war or activities of military service for applicants identified as members of the military in the application. The general requirements for adding exclusions are provided in the Standards for Forms Used to Exclude Policy Coverage Based on the Underwriting Process and the applicable individual policy standards.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008. 

Link to Comments submitted by members and the public:
Comments from the Industry Advisory Committee

Additional Amendment Proposed by the Product Standards Committee
Memo regarding Additional Amendment Proposed by the Product Standards Committee

Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Individual Joint Last to Die Survivorship Flexible Premium Adjustable Life Insurance Policy Standards

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the STDNAME in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand War Exclusion Amendment Adopted August 2016

Redline Version of Adopted Standard: Proposed War Exclusion Amendments

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Exclusions subsection of Section 3 Policy Provisions of certain Uniform Standards. The amendment deletes Subsection (1)(a)(ii) of the war exclusion provision. The amendment eliminates confusion and further clarifies that the Uniform Standards do not permit life insurance policies to contain a death benefit exclusion for known members of the military that die as a result of any act related to military service. Additionally, the term ?United States? will be added to Subsection (1)(a)( i) to clarify that this prohibition on war exclusions applies to members of the United States military, military reserves or the National Guard and not members of the military of another nation.

Citation to Published Notices: Notice of this rule was published on May 31, 2016.

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: June 29, 2016 during the Joint Management Committee and Commission teleconference. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 1, 2016. Written requests for a public hearing must be received no later than June 20, 2016

Date Approved by Management Committee: August 25, 2016

Date Adopted by Commission: August 25, 2016

Effective Date of Rule: December 5, 2016

Memos from Product Standards Committee:

Transmittal Memo

Link to Comments submitted by members and the public:

Connecticut Insurance Department?s Request to Amend the War Exclusion Provision in IIPRC Uniform Standards for Life Insurance Products, dated March 1, 2016 
Commissioner Cunningham?s Response to Connecticut?s Request dated March 4, 2016

Click to Expand INDIVIDUAL VARIABLE ADJUSTABLE LIFE INSURANCE PRODUCT LINE
Citation NumberName of Standard/ProcedureEffective Date
IIPRC-L-06-I

Standard Checklist

Individual Flexible Premium Variable Adjustable Life Insurance Policy Standards Dec 5, 2016
Standard History

Subject Matter of Rule:  The purpose of this rule is to establish reasonable uniform standards for Individual Flexible Premium Variable Adjustable Life products filed with the Interstate Insurance Product Regulation Commission (?Commission?). A Flexible Premium Variable Adjustable Life policy allows the owner to vary the amount and/or timing of premium payments and may allow the owner to adjust the amount of insurance. The policy provides for an optionally paid ?planned? premium selected by the owner, and may provide more than one death benefit option (for example, the Specified Amount, the Specified Amount plus Account Value and the Specified Amount plus Return of Premium). The policy operates with a monthly deduction (which includes the cost of insurance and other charges) being deducted from the account value of the policy. Monthly deductions continue until the value is insufficient to cover the current monthly deduction due. The policy then terminates, subject to a grace period of at least 60 days. These standards apply to policies that provide for benefits and values to vary in relation to the performance of an underlying separate account. These policies usually also allow for a general account or general account option, where money is deposited in the general account of the company and guaranteed to accumulate at specified interest rates.

Date Approved by Management Committee: December 8, 2006

Date Adopted by Commission: December 8, 2006

Effective Date of Rule: April 5, 2007

Date Amended Version Approved by the Management Committee: June 1, 2007

Date Amended Version Adopted by Commission: June 1, 2007

Effective Date of Amended Rule: September 30, 2007

Original Version: Individual Flexible Premium Variable Adjustable Life Insurance Policy Standards

Link to Comments submitted by members and the public:

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted August 2008

Date Amendment Approved by Management Committee: August 25, 2008

Date Amendment Adopted by Commission: August 27, 2008

Effective Date of Amendment to Rule: December 14, 2008

Information Regarding the Amendment to the Standards:

Name of Proposed Rule: Amendments to Actuarial Memorandum Requirements Section

Subject Matter of Proposed Rule: The purpose of this rule is to amend the individual life insurance policy standards to relocate existing submission requirements related to the actuarial memorandum into a separate, independent section of the standards.  The objective of this amendment is to improve compliance with the actuarial submission requirements in product filings received by the Interstate Insurance Product Regulation Commission (?IIPRC?) and to simplify the product review and approval process.

Comparison Version Highlighting the Conforming Amendments

Citation to Published Notices:  Notice of this Rule was published on May 1, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Underwriting Exclusions

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the Exclusions section of certain uniform standards. The amendment concerns the method of adding exclusions to a policy such that addition by policy amendment would be permitted, along with the existing methods of rider and endorsement. This amendment would also permit exclusions on the basis of foreign travel and foreign residency, subject to applicable law in the state where the policy is delivered or issued for delivery and subject to the general requirements for adding such exclusions. The amendment also prohibits excluding death benefits on the basis of risk of death as a result of war or activities of military service for applicants identified as members of the military in the application. The general requirements for adding exclusions are provided in the Standards for Forms Used to Exclude Policy Coverage Based on the Underwriting Process and the applicable individual policy standards.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008. 

Link to Comments submitted by members and the public:
Comments from the Industry Advisory Committee

Additional Amendment Proposed by the Product Standards Committee
Memo regarding Additional Amendment Proposed by the Product Standards Committee

Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Individual Flexible Premium Variable Adjustable Life Insurance Policy Standards 

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Flexible Premium Variable Adjustable Life Insurance Policy Standards  in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memofor a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand War Exclusion Amendment Adopted August 2016

Redline Version of Adopted Standard: Proposed War Exclusion Amendments

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Exclusions subsection of Section 3 Policy Provisions of certain Uniform Standards. The amendment deletes Subsection (1)(a)(ii) of the war exclusion provision. The amendment eliminates confusion and further clarifies that the Uniform Standards do not permit life insurance policies to contain a death benefit exclusion for known members of the military that die as a result of any act related to military service. Additionally, the term ?United States? will be added to Subsection (1)(a)( i) to clarify that this prohibition on war exclusions applies to members of the United States military, military reserves or the National Guard and not members of the military of another nation.

Citation to Published Notices: Notice of this rule was published on May 31, 2016.

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: June 29, 2016 during the Joint Management Committee and Commission teleconference. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 1, 2016. Written requests for a public hearing must be received no later than June 20, 2016

Date Approved by Management Committee: August 25, 2016

Date Adopted by Commission: August 25, 2016

Effective Date of Rule: December 5, 2016

Memos from Product Standards Committee:

Transmittal Memo

Link to Comments submitted by members and the public:

Connecticut Insurance Department?s Request to Amend the War Exclusion Provision in IIPRC Uniform Standards for Life Insurance Products, dated March 1, 2016 
Commissioner Cunningham?s Response to Connecticut?s Request dated March 4, 2016

IIPRC-L-06-I-1

Standard Checklist

Individual Modified Single Premium Variable Life Insurance Policy Standards Dec 5, 2016
Standard History

Subject Matter of Proposed Rule: The Individual Modified Single Premium Variable Life Insurance Policy Standards (the ?Proposed Standards?) specify submission requirements, form requirements and policy provisions for individual modified single premium variable life insurance that provide s for benefits and values to vary in relation to the performance of an underlying separate account. Such policies allow the owner to pay a single premium at issue between 80% and 100% of the federal Guideline Single Premium. The Proposed Standards include required and optional provisions for applicable policy forms, such as any applicable exclusions, death benefit proceeds, grace period, incontestability, loans and right to examine .

Citation to Published Notices:  Notice of this Rule was published on April 27, 2007.

Date Approved by Management Committee: December 8, 2006

Date Adopted by Commission: December 8, 2006

Name of persons requesting Public Hearing :

Date and Location of Public Hearing, if any: September 27, 2007, Marriott Wardman Park Hotel, 2600 Woodley Road, NW Washington DC

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until June 26, 2007. Written requests for a public hearing must be received no later than May 17, 2007.

Date Approved by Management Committee: September 27, 2007

Date Adopted by Commission: September 28, 2007

Effective Date of Rule: January 3, 2008

Original Version: Individual Modified Single Premium Variable Life Insurance Policy Standards

Link to Comments submitted by members and the public: 
Comments from the Industry Advisory Committee

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted August 2008

Date Amendment Approved by Management Committee: August 25, 2008

Date Amendment Adopted by Commission: August 27, 2008

Effective Date of Amendment to Rule: December 14, 2008

Information Regarding the Amendment to the Standards:

Name of Proposed Rule: Amendments to Actuarial Memorandum Requirements Section

Subject Matter of Proposed Rule: The purpose of this rule is to amend the individual life insurance policy standards to relocate existing submission requirements related to the actuarial memorandum into a separate, independent section of the standards.  The objective of this amendment is to improve compliance with the actuarial submission requirements in product filings received by the Interstate Insurance Product Regulation Commission (?IIPRC?) and to simplify the product review and approval process.

Citation to Published Notices:  Notice of this Rule was published on May 1, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Underwriting Exclusions

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the Exclusions section of certain uniform standards. The amendment concerns the method of adding exclusions to a policy such that addition by policy amendment would be permitted, along with the existing methods of rider and endorsement. This amendment would also permit exclusions on the basis of foreign travel and foreign residency, subject to applicable law in the state where the policy is delivered or issued for delivery and subject to the general requirements for adding such exclusions. The amendment also prohibits excluding death benefits on the basis of risk of death as a result of war or activities of military service for applicants identified as members of the military in the application. The general requirements for adding exclusions are provided in the Standards for Forms Used to Exclude Policy Coverage Based on the Underwriting Process and the applicable individual policy standards.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008. 

Link to Comments submitted by members and the public:
Comments from the Industry Advisory Committee

Additional Amendment Proposed by the Product Standards Committee
Memo regarding Additional Amendment Proposed by the Product Standards Committee

Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Individual Modified Single Premium Variable Life Insurance Policy Standards 

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Modified Single Premium Variable Life Insurance Policy Standards  in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memofor a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand War Exclusion Amendment Adopted August 2016

Redline Version of Adopted Standard: Proposed War Exclusion Amendments

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Exclusions subsection of Section 3 Policy Provisions of certain Uniform Standards. The amendment deletes Subsection (1)(a)(ii) of the war exclusion provision. The amendment eliminates confusion and further clarifies that the Uniform Standards do not permit life insurance policies to contain a death benefit exclusion for known members of the military that die as a result of any act related to military service. Additionally, the term ?United States? will be added to Subsection (1)(a)( i) to clarify that this prohibition on war exclusions applies to members of the United States military, military reserves or the National Guard and not members of the military of another nation.

Citation to Published Notices: Notice of this rule was published on May 31, 2016.

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: June 29, 2016 during the Joint Management Committee and Commission teleconference. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 1, 2016. Written requests for a public hearing must be received no later than June 20, 2016

Date Approved by Management Committee: August 25, 2016

Date Adopted by Commission: August 25, 2016

Effective Date of Rule: December 5, 2016

Memos from Product Standards Committee:

Transmittal Memo

Link to Comments submitted by members and the public:

Connecticut Insurance Department?s Request to Amend the War Exclusion Provision in IIPRC Uniform Standards for Life Insurance Products, dated March 1, 2016 
Commissioner Cunningham?s Response to Connecticut?s Request dated March 4, 2016

IIPRC-L-06-I-2

Standard Checklist

Individual Joint Last to Die Survivorship Flexible Premium Variable Adjustable Life Insurance Policy Standards Dec 5, 2016
Standard History

Subject Matter of Rule:   The purpose of this rule is to establish reasonable uniform standards for Individual Joint Last to Die Flexible Premium Variable Adjustable Life products filed with the Interstate Insurance Product Regulation Commission (?Commission?). A Flexible Premium Variable Adjustable Life policy allows the owner to vary the amount and/or timing of premium payments and may allow the owner to adjust the amount of insurance. As survivorship coverage the policy provides that the death benefit is payable upon the death of the last surviving insured to die. The policy provides for an optionally paid ?planned? premium selected by the owner, and may provide more than one death benefit option (for example, the Specified Amount, the Specified Amount plus Account Value and the Specified Amount plus Return of Premium). The policy operates with a monthly deduction (which includes the cost of insurance and other charges) being deducted from the account value of the policy. Monthly deductions continue until the value is insufficient to cover the current monthly deduction due. The policy then terminates, subject to a grace period of at least 60 days. These standards apply to policies that provide for benefits and values to vary in relation to the performance of an underlying separate account. These policies usually also allow for a general account or general account option, where money is deposited in the general account of the company and guaranteed to accumulate at specified interest rates.

Date Approved by Management Committee: December 8, 2006

Date Adopted by Commission: December 8, 2006

Effective Date of Rule: April 5, 2007

Original Version: Individual Joint Last to Die Survivorship Flexible Premium Variable Adjustable Life Insurance Policy Standards

Date Amended Version Approved by the Management Committee: June 1, 2007

Date Amended Version Adopted by Commission: June 1, 2007

Effective Date of Amended Rule: September 30, 2007

Link to Comments submitted by members and the public:

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted August 2008

Date Amendment Approved by Management Committee: August 25, 2008

Date Amendment Adopted by Commission: August 27, 2008

Effective Date of Amendment to Rule: December 14, 2008

Information Regarding the Amendment to the Standards:

Name of Proposed Rule: Amendments to Actuarial Memorandum Requirements Section

Subject Matter of Proposed Rule: The purpose of this rule is to amend the individual life insurance policy standards to relocate existing submission requirements related to the actuarial memorandum into a separate, independent section of the standards.  The objective of this amendment is to improve compliance with the actuarial submission requirements in product filings received by the Interstate Insurance Product Regulation Commission (?IIPRC?) and to simplify the product review and approval process.

Comparison Version Highlighting the Conforming Amendments

Citation to Published Notices:  Notice of this Rule was published on May 1, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Underwriting Exclusions

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the Exclusions section of certain uniform standards. The amendment concerns the method of adding exclusions to a policy such that addition by policy amendment would be permitted, along with the existing methods of rider and endorsement. This amendment would also permit exclusions on the basis of foreign travel and foreign residency, subject to applicable law in the state where the policy is delivered or issued for delivery and subject to the general requirements for adding such exclusions. The amendment also prohibits excluding death benefits on the basis of risk of death as a result of war or activities of military service for applicants identified as members of the military in the application. The general requirements for adding exclusions are provided in the Standards for Forms Used to Exclude Policy Coverage Based on the Underwriting Process and the applicable individual policy standards.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008. 

Link to Comments submitted by members and the public:
Comments from the Industry Advisory Committee

Additional Amendment Proposed by the Product Standards Committee
Memo regarding Additional Amendment Proposed by the Product Standards Committee

Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Individual Joint Last to Die Survivorship Flexible Premium Variable Adjustable Life Insurance Policy Standards

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Joint Last to Die Survivorship Flexible Premium Variable Adjustable Life Insurance Policy Standards in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand War Exclusion Amendment Adopted August 2016

Redline Version of Adopted Standard: Proposed War Exclusion Amendments

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Exclusions subsection of Section 3 Policy Provisions of certain Uniform Standards. The amendment deletes Subsection (1)(a)(ii) of the war exclusion provision. The amendment eliminates confusion and further clarifies that the Uniform Standards do not permit life insurance policies to contain a death benefit exclusion for known members of the military that die as a result of any act related to military service. Additionally, the term ?United States? will be added to Subsection (1)(a)( i) to clarify that this prohibition on war exclusions applies to members of the United States military, military reserves or the National Guard and not members of the military of another nation.

Citation to Published Notices: Notice of this rule was published on May 31, 2016.

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: June 29, 2016 during the Joint Management Committee and Commission teleconference. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 1, 2016. Written requests for a public hearing must be received no later than June 20, 2016

Date Approved by Management Committee: August 25, 2016

Date Adopted by Commission: August 25, 2016

Effective Date of Rule: December 5, 2016

Memos from Product Standards Committee:

Transmittal Memo

Link to Comments submitted by members and the public:

Connecticut Insurance Department?s Request to Amend the War Exclusion Provision in IIPRC Uniform Standards for Life Insurance Products, dated March 1, 2016 
Commissioner Cunningham?s Response to Connecticut?s Request dated March 4, 2016

IIPRC-L-06-I-3

Standard Checklist

Individual Modified Single Premium Joint First To Die Variable Life Insurance Policy Standards Dec 5, 2016
Standard History

Subject Matter of Proposed Rule:  The Individual Modified Single Premium Joint First To Die Variable Life Insurance Policy Standards (the ?Proposed Standards?) specify submission requirements, form requirements and policy provisions for individual modified single premium joint first to die variable life insurance policies that provide for benefits and values to vary in relation to the performance of an underlying separate account. As joint first to die coverage, these standards apply where two insureds are insured and the death benefit is payable upon the first death. Such policies allow the owner to pay a single premium at issue between 80% and 100% of the federal Guideline Single Premium. The proposed Standards include required and optional provisions for applicable policy forms, such as any applicable exclusions, death benefit proceeds, grace period, incontestability, loans and right to examine.

Citation to Published Notices:  Notice of this Rule was published on April 27, 2007.

Date Approved by Management Committee: December 8, 2006

Date Adopted by Commission: December 8, 2006

Name of persons requesting Public Hearing :

Date and Location of Public Hearing, if any: September 27, 2007, Marriott Wardman Park Hotel, 2600 Woodley Road, NW Washington DC

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until June 26, 2007. Written requests for a public hearing must be received no later than May 17, 2007.

Date Approved by Management Committee: September 27, 2007

Date Adopted by Commission: September 28,2007

Effective Date of Rule: January 3, 2008

Original Version: Individual Modified Single Premium Joint First To Die Variable Life Insurance Policy Standards

Link to Comments submitted by members and the public: 
Comments from the Industry Advisory Committee

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted August 2008

Date Amendment Approved by Management Committee: August 25, 2008

Date Amendment Adopted by Commission: August 27, 2008

Effective Date of Amendment to Rule: December 14, 2008

Information Regarding the Amendment to the Standards:

Name of Proposed Rule: Amendments to Actuarial Memorandum Requirements Section

Subject Matter of Proposed Rule: The purpose of this rule is to amend the individual life insurance policy standards to relocate existing submission requirements related to the actuarial memorandum into a separate, independent section of the standards.  The objective of this amendment is to improve compliance with the actuarial submission requirements in product filings received by the Interstate Insurance Product Regulation Commission (?IIPRC?) and to simplify the product review and approval process.

Citation to Published Notices:  Notice of this Rule was published on May 1, 2008.

Link to Comments submitted by members and the public: No Comments Submitted

Name of Proposed Rule: Amendment Regarding Underwriting Exclusions

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the Exclusions section of certain uniform standards. The amendment concerns the method of adding exclusions to a policy such that addition by policy amendment would be permitted, along with the existing methods of rider and endorsement. This amendment would also permit exclusions on the basis of foreign travel and foreign residency, subject to applicable law in the state where the policy is delivered or issued for delivery and subject to the general requirements for adding such exclusions. The amendment also prohibits excluding death benefits on the basis of risk of death as a result of war or activities of military service for applicants identified as members of the military in the application. The general requirements for adding exclusions are provided in the Standards for Forms Used to Exclude Policy Coverage Based on the Underwriting Process and the applicable individual policy standards.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008. 

Link to Comments submitted by members and the public:
Comments from the Industry Advisory Committee

Additional Amendment Proposed by the Product Standards Committee
Memo regarding Additional Amendment Proposed by the Product Standards Committee

Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Individual Modified Single Premium Joint First to Die Variable Life Insurance Policy Standards 

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the STDNAME in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand War Exclusion Amendment Adopted August 2016

Redline Version of Adopted Standard: Proposed War Exclusion Amendments

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Exclusions subsection of Section 3 Policy Provisions of certain Uniform Standards. The amendment deletes Subsection (1)(a)(ii) of the war exclusion provision. The amendment eliminates confusion and further clarifies that the Uniform Standards do not permit life insurance policies to contain a death benefit exclusion for known members of the military that die as a result of any act related to military service. Additionally, the term ?United States? will be added to Subsection (1)(a)( i) to clarify that this prohibition on war exclusions applies to members of the United States military, military reserves or the National Guard and not members of the military of another nation.

Citation to Published Notices: Notice of this rule was published on May 31, 2016.

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: June 29, 2016 during the Joint Management Committee and Commission teleconference. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 1, 2016. Written requests for a public hearing must be received no later than June 20, 2016

Date Approved by Management Committee: August 25, 2016

Date Adopted by Commission: August 25, 2016

Effective Date of Rule: December 5, 2016

Memos from Product Standards Committee:

Transmittal Memo

Link to Comments submitted by members and the public:

Connecticut Insurance Department?s Request to Amend the War Exclusion Provision in IIPRC Uniform Standards for Life Insurance Products, dated March 1, 2016 
Commissioner Cunningham?s Response to Connecticut?s Request dated March 4, 2016

IIPRC-L-06-I-4

Standard Checklist

Additional Standards for Private Placement Plans for Individual Variable Adjustable Life Insurance Policies Nov 20, 2017
Standard History

Subject Matter of Rule: The Additional Standards for Private Placement Plans for Individual Variable Adjustable Life Insurance Policies (the ?Proposed Standards?) specify additional submission requirements for benefits that are built into individual variable adjustable life insurance policies, that are issued exclusively to an accredited investor or qualified purchaser, and that vary in relation to the performance of an underlying separate account where the investment funds in the private placement separate account may be exempt from registration with the SEC.

Citation to Published Notices: Notice of this rule was published on January 5, 2011

Name of persons requesting Public Hearing: Commissioner Roger Sevigny, New Hampshire

Date and Location of Public Hearing, if any: March 25, 2011 Joint Meeting of the Management Committee and Commission in Austin, TX

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until March 6, 2011. Written requests for a public hearing must be received no later than January 25, 2011.

Date Approved by Management Committee: March 25, 2011

Date Adopted by Commission: March 25, 2011

Effective Date of Rule: July 3, 2011

Original Version: Additional Standards for Private Placement Plans for Individual Variable Adjustable Life Insurance Policies

Memos from the Product Standards Committee:

Link to Comments submitted by members and the public:

This rule has been amended.

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted August 2017

Redlined Version of Adopted Standard: Additional Standards for Private Placement Plans for Individual Variable Adjustable Life Insurance Policies

Subject Matter of Proposed Rule: The purpose of these amendments is to revise the Operating Procedures and Uniform Standards effective between January 1, 2011 and July 1, 2011 in accordance with the Five-Year Commission Review of Rules required by ?119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the Five-Year Review process limit the scope of review under ?119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.? See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on March 23, 2017

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: June 26, 2017 at 1:30 pm ET / 12:30 pm CT via teleconference

Status of Proposed Rule (including Upcoming Meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until May 22, 2017. Written requests for a public hearing must be received no later than April 12, 2017.

Date Amendment Approved by Management Committee: August 5, 2017

Date Amendment Adopted by Commission: August 5, 2017

Effective Date of Rule: November 20, 2017

Memos from Product Standards Committee:

Link to Comments Submitted by Members and the Public:

Click to Expand STANDARDS FOR INDIVIDUAL LIFE BENEFIT FEATURES
Citation NumberName of Standard/ProcedureEffective Date
IIPRC-L-04-I-LB-ATL

Standard Checklist

Additional Standards for Additional Term Life Insurance Benefits Dec 4, 2014
Standard History

Subject Matter of Proposed Rule: The Standards for Additional Term Life Insurance Benefits (the ?Proposed Standards?) specify submission requirements, form requirements and policy provisions for additional term life benefits for the primary and any additional insureds in individual life insurance forms; applying to benefits that are built-in to individual life insurance policy forms or added to such policy forms by rider, amendment or endorsement .

Citation to Published Notices:  Notice of this Rule was published on September 4, 2007.

Name of persons requesting Public Hearing :

Date and Location of Public Hearing, if any: November 13, 200 via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until November 3, 2007. Written requests for a public hearing must be received no later than September 24, 2007.

Date Approved by Management Committee: December 1, 2007

Date Adopted by Commission: December 1, 2007

Effective Date of Rule: March 11, 2008

Link to Comments submitted by members and the public: 
Comments from the Industry Advisory Committee

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule:Amendments to Standards for Additional Term Life Insurance Benefits

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Standards for Additional Term Life Insurance Benefits in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

IIPRC-L-08-I-CB

Standard Checklist

Additional Standards for Riders, Endorsements or Amendments Used to Effect Individual Life Insurance Policy Changes Mar 5, 1015
Standard History

Subject Matter of Proposed Rule:  The Additional Standards for Riders, Endorsements or Amendments Used to Effect Individual Life Insurance Policy Changes (the "Proposed Standards) apply to riders, endorsements or amendments that are used to effect policy changes that have been requested for an individual life insurance policy by the owner either on the policy date of issue or after the policy date of issue. These standards do not apply to forms used to provide tax qualified plan provisions and to exclude policy coverage based on the underwriting process, because separate standards apply to these forms.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008.

Name of persons requesting Public Hearing : Commissioner Glen Wilson

Date and Location of Public Hearing, if any: August 25, 2008, via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 5, 2008. Written requests for a public hearing must be received no later than June 26, 2008.

Date Approved by Management Committee: Monday, August 25, 2008

Date Adopted by Commission: August 27, 2008

Effective Date of Rule: December 14, 2008

Link to Comments submitted by members and the public:

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted November 2014

Date Amendment Approved by Management Committee: November 15, 2014

Date Amendment Adopted by Commission: November 15, 2014

Effective Date of Amendment to Rule: March 5, 2015

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Additional Standards for Riders, Endorsements or Amendments Used to Effect Individual Life Insurance Policy Changes

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Additional Standards for Riders, Endorsements or Amendments Used to Effect Individual Life Insurance Policy Changes in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.

Citation to Published Notices: Notice of this Rule was published on September 8, 2014.

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Public hearing was held on October 20th during a Management Committee teleconference. 

Report and Recommendations:

Link to Comments submitted by members and the public:

IIPRC-L-08-I-CoI

Standard Checklist

Additional Standards for Change of Insured Benefit Nov 20, 2017
Standard History

Subject Matter of Rule:The Additional Standards for Change of Insured Benefit (the ?Proposed Standards?) specify additional submission requirements allowing the owner to exchange the insured covered by the policy for a new insured in whom the owner has an insurable interest or to exchange the policy for a new policy covering a new insured in whom the owner has an insurable interest; applying to benefits that are built-in to individual whole life insurance policies or individual variable or non-variable adjustable life insurance policies or are added to such policy forms by rider, amendment or endorsement.

Citation to Published Notices: Notice of this rule was published on October 28, 2010

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: February 28, 2010 joint teleconference meeting of the Management Committee and Commission

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until December 27, 2010. Written requests for a public hearing must be received no later than November 17, 2010.

Date Approved by Management Committee: February 28, 2011

Date Adopted by Commission: March 25, 2011

Effective Date of Rule: July 3, 2011

Original Version: Additional Standards for Change of Insured Benefit

Memos from the Product Standards Committee:

Link to Comments submitted by members and the public:

This rule has been amended.

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted August 2017

Redlined Version of Adopted Standard: Additional Standards for Change of Insured Benefit

Subject Matter of Proposed Rule: The purpose of these amendments is to revise the Operating Procedures and Uniform Standards effective between January 1, 2011 and July 1, 2011 in accordance with the Five-Year Commission Review of Rules required by ?119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the Five-Year Review process limit the scope of review under ?119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.? See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on March 23, 2017

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: June 26, 2017 at 1:30 pm ET / 12:30 pm CT via teleconference

Status of Proposed Rule (including Upcoming Meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until May 22, 2017. Written requests for a public hearing must be received no later than April 12, 2017.

Date Amendment Approved by Management Committee: August 5, 2017

Date Amendment Adopted by Commission: August 5, 2017

Effective Date of Rule: November 20, 2017

Memos from Product Standards Committee:

Link to Comments Submitted by Members and the Public:

IIPRC-L-08-I-LB-OLP

Standard Checklist

Additional Standards for Overloan Protection Benefit Nov 17, 2019
Standard History

 

Click to Expand Amendments Adopted August 2019
 

Effective Date of Standard: November 17, 2019
Date Amendment Approved by Management Committee: August 2, 2019
Date Amendment Adopted by Commission: August 2, 2019

Adopted Standard: Additional Standards for Overloan Protection Benefit
Redline Version of Adopted Standard
Version Recommended by PSC to Management Committee

Subject Matter of Standard: The purpose of these amendments is to expand the Scope of the Uniform Standards to include individual whole life insurance products; clarify that the benefit prevents the policy from lapsing due to an excessive loan on the policy, and when requirements are met, provide the owner with a paid up policy. The amendments also include technical edits so the language accommodates both adjustable and whole life insurance policies. See the Transmittal Memo for a more detailed description of the proposed amendments.

Published Notices of Standard: Notice of this rule was published on March 12, 2019

Date and Location of Public Hearing, if any: June 17, 2019 via teleconference

Memoranda from the Product Standards Committee:

Comments Received from Members and the Public:

Click to Expand Five-Year Review Amendments Adopted August 2017 (Current Version)

Effective Date of Standard: November 20, 2017
Date Amendment Approved by Management Committee: August 5, 2017
Date Amendment Adopted by Commission: August 5, 2017

Adopted Standard: Additional Standards for Overloan Protection Benefit
Redline Version of Adopted Standard
Version Recommended by PSC to Management Committee

Subject Matter of Standard: The purpose of these amendments is to revise the Operating Procedures and Uniform Standards effective between January 1, 2011 and July 1, 2011 in accordance with the Five-Year Commission Review of Rules required by ?119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the Five-Year Review process limit the scope of review under ?119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.? See the Transmittal Memo for a more detailed description of the proposed amendments.

Published Notices of Standard: Notice of this rule was published on March 23, 2017

Date and Location of Public Hearing, if any: June 26, 2017 at 1:30 pm ET / 12:30 pm CT via teleconference

Reports and Recommendations:

Comments Submitted by Members and the Public:

Click to Expand Initial Adoption

Effective Date of Standard: July 3, 2011
Date Approved by Management Committee: February 28, 2011
Date Adopted by Commission: March 25, 2011

Adopted Standard: Additional Standards for Overloan Protection Benefit
Version Recommended by PSC to Managemetn Committee: Additional Standards for Overloan Protection Benefit

Subject Matter of Standard: The Additional Standards for Overloan Protection Benefit (the ?Standards?) specify additional submission requirements for a benefit that prevents the policy from lapsing due to an excessive loan on the policy; applying to benefits that are built into individual variable or non-variable adjustable life insurance policies or added to such policy forms by rider, amendment or endorsement.

Published Notices of Standard: Notice of this rule was published on October 28, 2010

Date and Location of Public Hearing, if any: February 28, 2010 joint teleconference meeting of the Management Committee and Commission

Product Standards Committee Memoranda and Recommendations:

Comments Submitted by Members and the Public: None.

IIPRC-L-08-LB-GIB

Standard Checklist

Additional Standards for Additional Life Insurance Benefits Provided on a Guaranteed Insurability Basis Dec 4, 2014
Standard History

Subject Matter of Proposed Rule:  The Standards For Additional Life Insurance Benefits Provided On A Guaranteed Insurability Basis (the ?Proposed Standards?) specify submission requirements, form requirements and policy provisions for additional life insurance coverage on the life of a designated insured at specified dates and in specified amounts or under a specified formula, without requiring evidence of insurability for the designated insured; applying to benefits that are built-in to individual life insurance policy forms or added to such policy forms by rider, amendment or endorsement.

Citation to Published Notices:  Notice of this Rule was published on September 4, 2007.

Name of persons requesting Public Hearing :

Date and Location of Public Hearing, if any: November 13, 2007 via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until November 3, 2007. Written requests for a public hearing must be received no later than September 24, 2007.

Date Approved by Management Committee: December 1, 2007

Date Adopted by Commission: December 1, 2007

Effective Date of Rule: March 11, 2008

Link to Comments submitted by members and the public: 
Comments from the Industry Advisory Committee

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule:Amendments to Standards for Additional Life Insurance Benefits Provided on a Guaranteed Insurability Basis

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Standards for Additional Life Insurance Benefits Provided on a Guaranteed Insurability Basis in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

IIPRC-L-08-LB-I

Standard Checklist

Additional Standards for All Benefit Features Dec 4, 2014
Standard History

Subject Matter of Rule: The Standards for All Benefit Features provide general submission and form requirements that apply to all benefits added to policies by rider, endorsement or amendment. These standards are in addition to the specific standards applicable to each benefit feature.

Citation to Published Notices: Notice of this Rule was published on December 22, 2006.

Name of persons requesting Public Hearing Industry Advisory Committee

Date and Location of Public Hearing, if any: February 23, 2007, 12:30 CT/1:30 ET via conference call

Status of Rule (including upcoming meetings):  This operating procedure has been issued for notice and comment.  Written comments will be accepted on this proposed new operating procedure until February 20, 2007.  Written requests for a public hearing must be received no later than January 11, 2007.A public hearing to receive comments is scheduled for February 23, 2007. This proposed rule may be considered at a Management Committee meeting via conference call scheduled for February 26, 2007 and a Commission meeting via conference call scheduled for February 28, 2007. No further action is necessary on this Proposed Rule.

Date Approved by Management Committee: February 26, 2007 (Explanatory Statement)

Date Adopted by Commission: February 28, 2007

Effective Date of Rule: May 31, 2007

Original Version: Additional Standards for All Benefit Features

Link to Comments submitted by members and the public: Industry Advisory Committee

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Standards for All Benefit Features

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Standards for All Benefit Features in accordance with the Five-Year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

IIPRC-L-08-LB-I-AD-1

Standard Checklist

Standards for Accidental Death Benefits Dec 4, 2014
Standard History

Subject Matter of Rule: The Standards for Accidental Death Benefits provide for the payment of benefits to the beneficiary under a life insurance policy in the event death occurs due to an accident as defined by the terms of the policy.  The Standards apply to this benefit feature whether the feature is added to a policy by rider, endorsement, amendment or incorporation into a policy form.  The Standards include required and optional provisions for the benefit, such as any applicable exclusions, incontestability, and termination.

Citation to Published Notices: Notice of this Rule was published on December 22, 2006.

Name of persons requesting Public Hearing Industry Advisory Committee

Date and Location of Public Hearing, if any: February 23, 2007, 12:30 CT/1:30 ET via conference call

Status of Rule (including upcoming meetings):  This uniform standard has been issued for notice and comment.  Written comments will be accepted on this proposed new uniform standard until February 20, 2007.  Written requests for a public hearing must be received no later than January 11, 2007.A public hearing to receive comments is scheduled for February 23, 2007. This proposed rule may be considered at a Management Committee meeting via conference call scheduled for February 26, 2007 and a Commission meeting via conference call scheduled for February 28, 2007. No further action is necessary on this Proposed Rule.

Date Approved by Management Committee: February 26, 2007 (Explanatory Statement)

Date Adopted by Commission: February 28, 2007

Effective Date of Rule: May 31, 2007

Link to Comments submitted by members and the public:
Industry Advisory Committee

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Standards for Accidental Death Benefits

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Standards for Accidental Death Benefits in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

IIPRC-L-08-LB-I-AD-2

Standard Checklist

Additional Standards for Accidental Death and Dismemberment Benefits Dec 4, 2014
Standard History

Subject Matter of Rule: The Standards for Accidental Death and Dismemberment Benefits provide for the payment of benefits to the beneficiary under a life insurance policy in the event death occurs due to an accident as defined by the terms of the policy.  The Standards apply to this benefit feature whether the feature is added to a policy by rider, endorsement, amendment or incorporation into a policy form.  The Standards include required and optional provisions for the benefit, such as any applicable exclusions, incontestability, and termination.

Citation to Published Notices: Notice of this Rule was published on December 22, 2006.

Name of persons requesting Public Hearing Industry Advisory Committee

Date and Location of Public Hearing, if any: February 23, 2007, 12:30 CT/1:30 ET via conference call

Status of Rule (including upcoming meetings):  This uniform standard has been issued for notice and comment.  Written comments will be accepted on this proposed new uniform standard until February 20, 2007.  Written requests for a public hearing must be received no later than January 11, 2007.A public hearing to receive comments is scheduled for February 23, 2007. This proposed rule may be considered at a Management Committee meeting via conference call scheduled for February 26, 2007 and a Commission meeting via conference call scheduled for February 28, 2007. No further action is necessary on this Proposed Rule.

Date Approved by Management Committee: February 26, 2007 (Explanatory Statement)

Date Adopted by Commission: February 28, 2007

Effective Date of Rule: May 31, 2007

Link to Comments submitted by members and the public:
Industry Advisory Committee

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Standards for Accidental Death and Dismemberment Benefits

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Standards for Accidental Death and Dismemberment Benefits in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

IIPRC-L-08-LB-I-AD-3

Standard Checklist

Additional Standards for Accelerated Death Benefits for Individual Life Insurance Policies Dec 4, 2014
Standard History

Subject Matter of Rule: The Standards for Accelerated Death Benefits provide for the advance payment of some or all of the death proceeds payable under a life insurance policy upon the occurrence of a qualifying event.  The Standards apply to the benefit feature whether added to a policy by rider, endorsement, amendment or incorporation into a policy form.  The Standards include required and optional provisions for the benefit, such as any applicable exclusions, incontestability, reinstatement and termination.  The Standards also require the submission of an actuarial certification that the value and premium of the accelerated death benefit is incidental to the life coverage.

Citation to Published Notices: Notice of this Rule was published on December 22, 2006.

Name of persons requesting Public Hearing Industry Advisory Committee

Date and Location of Public Hearing, if any: February 23, 2007, 12:30 CT/1:30 ET via conference call

Status of Rule (including upcoming meetings):  This operating procedure has been issued for notice and comment.  Written comments will be accepted on this proposed new operating procedure until February 20, 2007.  Written requests for a public hearing must be received no later than January 11, 2007.A public hearing to receive comments is scheduled for February 23, 2007. This proposed rule may be considered at a Management Committee meeting via conference call scheduled for February 26, 2007 and a Commission meeting via conference call scheduled for February 28, 2007. No further action is necessary on this Proposed Rule.

Date Approved by Management Committee: February 26, 2007 (Explanatory Statement)

Date Adopted by Commission: February 28, 2007

Effective Date of Rule: May 31, 2007

Link to Comments submitted by members and the public:
Industry Advisory Committee

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Additional Standards for Accelerated Death Benefits for Individual Life Insurance Policies

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Standards for Accelerated Death Benefits for individual life insurance in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on April 14, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any:

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until June 13, 2014. Written requests for a public hearing must be received no later than May 4, 2014.

Date Approved by Management Committee:

Date Adopted by Commission:

Effective Date of Rule:

Report and Recommendations:

Link to Comments submitted by members and the public:

IIPRC-L-08-LB-I-Index

Standard Checklist

Additional Standards for Index-Linked Crediting Benefit Features for Individual Adjustable Life Policies Mar 5, 2015
Standard History

Subject Matter of Proposed Rule: Additional Standards for Index-Linked Crediting Benefit Features for Individual Flexible Premium Adjustable Life Insurance Policies (the "Proposed Standards) apply to index-linked crediting features that are built-in to individual non-variable adjustable life policies.

Citation to Published Notices: Notice of this rule was published on December 12, 2008.

Name of persons requesting Public Hearing : Director Mary Jo Hudson

Date and Location of Public Hearing, if any: Monday, February 23, 2009 via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until February 10, 2009. Written requests for a public hearing must be received no later than January 1, 2009.

Date Approved by Management Committee: Monday, February 23, 2009

Date Adopted by Commission: Saturday, March 14, 2009

Effective Date of Rule: June 25, 2009

Link to Comments submitted by members and the public:
Industry Advisory Comments
Standards with IAC Comments Incorporated

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted November 2014

Date Amendment Approved by Management Committee: November 15, 2014

Date Amendment Adopted by Commission: November 15, 2014

Effective Date of Amendment to Rule: March 5, 2015

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Additional Standards for Index-Linked Crediting Benefit Features for Individual Adjustable Life Policies

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Additional Standards for Index-Linked Crediting Benefit Features for Individual Adjustable Life Policies in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.

Citation to Published Notices: Notice of this Rule was published on September 8, 2014.

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Public hearing was held on October 20th during a Management Committee teleconference. 

Report and Recommendations:

Link to Comments submitted by members and the public:

IIPRC-L-08-LB-I-TQ

Standard Checklist

Additional Standards for Forms Used to Provide Tax Qualified Plan Provisions for Individual Life Insurance Policies Mar 5, 2015
Standard History

Subject Matter of Proposed Rule:  The Additional Standards for Forms Used to Provide Tax Qualified Plan Provisions for Individual Life Insurance Policies (the "Proposed Standards) apply to provisions that are required in individual life insurance policies to comply with specified tax code requirements applicable to such policies when they are intended to be issued as tax qualified plans; applying to provisions that are either built into the life insurance policy or added to such policy by rider, endorsement or amendment.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008.

Name of persons requesting Public Hearing : Commissioner Glen Wilson

Date and Location of Public Hearing, if any: August 25, 2008, via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 5, 2008. Written requests for a public hearing must be received no later than June 26, 2008.

Date Approved by Management Committee: Monday, August 25, 2008

Date Adopted by Commission: August 27, 2008

Effective Date of Rule: December 14, 2008

Link to Comments submitted by members and the public:
Comments from the Industry Advisory Committee

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted November 2014

Date Amendment Approved by Management Committee: November 15, 2014

Date Amendment Adopted by Commission: November 15, 2014

Effective Date of Amendment to Rule: March 5, 2015

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Additional Standards for forms Used to Provide Tax Qualified Plan Provisions for Individual Life Insurance Policies

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Additional Standards for Forms Used to Provide Tax Qualified Plan Provisions for Individual Life Insurance Policies in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.

Citation to Published Notices: Notice of this Rule was published on September 8, 2014.

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Public hearing was held on October 20th during a Management Committee teleconference. 

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until November 7, 2014. Written requests for a public hearing must be received no later than September 28, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

IIPRC-L-08-LB-I-UE-1

Standard Checklist

Additional Standards for Forms Used to Exclude Policy Coverage Based on the Underwriting Process Mar 5, 2015
Standard History

Subject Matter of Proposed Rule:  The Additional Standards for Forms Used to Exclude Policy Coverage Based on the Underwriting Process (the "Proposed Standards) apply to provisions which exclude individual life insurance policy coverage, when the exclusions are based on information disclosed by the insured in the application or identified for the insured during the underwriting process; applying to provisions built into the life insurance policy or added to such policy by rider, endorsement or amendment and may be added to a change in coverage at the same time that the change in coverage is made to the policy.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008.

Name of persons requesting Public Hearing : Commissioner Glen Wilson

Date and Location of Public Hearing, if any: August 25, 2008, via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 5, 2008. Written requests for a public hearing must be received no later than June 26, 2008.

Date Approved by Management Committee: Monday, August 25, 2008

Date Adopted by Commission: August 27, 2008

Effective Date of Rule: November 25, 2008

Link to Comments submitted by members and the public: 
Comments from the Industry Advisory Committee

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted November 2014

Date Amendment Approved by Management Committee: November 15, 2014

Date Amendment Adopted by Commission: November 15, 2014

Effective Date of Amendment to Rule: March 5, 2015

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Additional Standards for forms Used to Exclude Policy Coverage Based On The Underwriting Process

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Additional Standards for forms Used to Exclude Policy Coverage Based On The Underwriting Process in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.

Citation to Published Notices: Notice of this Rule was published on September 8, 2014.

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Public hearing was held on October 20th during a Management Committee teleconference. 

Report and Recommendations:

Link to Comments submitted by members and the public:

IIPRC-LB-04-I-ROP

Standard Checklist

Additional Standards for Intermediate Period Endowment Benefit Features for Individual Life Insurance Policies (Including Return of Premium) PLEASE SEE FIN 2009-1 – Return of Premium for Mix and Match in Washington State Jul 18, 2016
Standard History

Subject Matter of Proposed Rule: Additional Standards for Intermediate Period Endowment Benefit Features for Individual Life Insurance Policies (including Return of Premium) (the "Proposed Standards) apply to individual life insurance policies, other than variable and non-variable adjustable life policies and current assumption whole life policies, that provide for an endowment benefit payable at a known intermediate duration during a longer period of life insurance protection; the premium rate scale during the endowment period must be guaranteed; and the endowment benefit can be built-in or added to such policies at issue by rider, amendment or endorsement.

Citation to Published Notices: Notice of this rule was published on December 12, 2008.

Name of persons requesting Public Hearing : Director Mary Jo Hudson

Date and Location of Public Hearing, if any: Monday, February 23, 2009 via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until February 10, 2009. Written requests for a public hearing must be received no later than January 1, 2009.

Date Approved by Management Committee: Monday, February 23, 2009

Date Adopted by Commission: Saturday, March 14, 2009

Effective Date of Rule: June 25, 2009

Original VersionAdditional Standards for Intermediate Period Endowment Benefit Features for Individual Life Insurance Policies (including Return of Premium) adopted on March 14, 2009

Link to Comments submitted by members and the public:
Industry Advisory Comments
Standards with IAC Comments Incorporated

This rule has been amended.

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted October 2010

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the Additional Standards for Intermediate Period Endowment Benefit Features for Individual Life Insurance Policies to provide additional detail on the application of the reinstatement provision; clarify what disclosure is required for benefits with guaranteed premiums that may change based on policy changes; and specify the availability of the mix and match and self-certification processes.

Citation to Published Notices: Notice of this rule was published on August 6, 2010.

Name of persons requesting Public Hearing : Director Mary Jo Hudson, Chair

Date and Location of Public Hearing, if any: October 17, 2010, 1:00 ET at the Gaylord Palms Resort & Convention Center, 6000 W. Osceola Pkwy, Kissimmee, FL 34746-4414

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until October 5, 2010. Written requests for a public hearing must be received no later than August 26, 2010.

Date Approved by Management Committee: October 17, 2010

Date Adopted by Commission: October 17, 2010

Effective Date of Rule: January 15, 2010

Link to Comments submitted by members and the public:

Click to Expand 5-Year Review Amendments Adopted April 2016

Name of Proposed Rule: Additional Standards for Intermediate Period Endowment Benefit Features for Individual Life Insurance Policies

Subject Matter of Proposed Rule: The Additional Standards for Intermediate Period Endowment Benefit Features for Individual Life Insurance Policies (the ?Proposed Standards?) provide for an endowment benefit payable at a known intermediate duration during a longer period of life insurance protection that are built into individual life insurance policies, other than variable and non-variable adjustable life policies and current assumption whole life policies, or added to such policies by rider, endorsement or amendment. The premium rate scale during the endowment period must be guaranteed.

Citation to Published Notices: Notice of this rule was published on December 9, 2015

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Via teleconference, February 24, 2016

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until February 8, 2016. Written requests for a public hearing must be received no later than December 29, 2015.

Date Amended Version Approved by the Management Committee: April 2, 2016

Date Amended Version Adopted by Commission: April 2, 2016

Effective Date of Amended Rule: July 18, 2016

Memos from Product Standards Committee:

Link to Comments submitted by members and the public:

IIPRC-L-08-LB-I-WMDB

Standard Checklist

Amended Checklist

Additional Standards for Waiver of Monthly Deductions Benefit

Additional Standards for Waiver of Monthly Deduction Benefits for Total Disability or Other Qualifying Events
Dec 4, 2014
Nov 29, 2021
Standard History

Subject Matter of Rule: The Standards for Waiver of Monthly Deductions Benefit provide for monthly deductions made under an individual life insurance policy to be waived in the event the insured becomes totally disabled under the terms of the policy.  The Standards apply to this benefit feature whether the feature is added to a policy by rider, endorsement, amendment or incorporation into a policy form.  The Standard includes required and optional provisions for the benefit, such as any applicable exclusions, incontestability, effect of policy adjustments and termination.

Citation to Published Notices: Notice of this Rule was published on December 22, 2006.

Name of persons requesting Public Hearing Industry Advisory Committee

Date and Location of Public Hearing, if any: February 23, 2007, 12:30 CT/1:30 ET via conference call

Status of Rule (including upcoming meetings):  This uniform standard has been issued for notice and comment.  Written comments will be accepted on this proposed new uniform standard until February 20, 2007.  Written requests for a public hearing must be received no later than January 11, 2007.A public hearing to receive comments is scheduled for February 23, 2007. This proposed rule may be considered at a Management Committee meeting via conference call scheduled for February 26, 2007 and a Commission meeting via conference call scheduled for February 28, 2007. No further action is necessary on this Proposed Rule.

Date Approved by Management Committee: February 26, 2007 (Explanatory Statement)

Date Adopted by Commission: February 28, 2007

Effective Date of Rule: May 31, 2007

Link to Comments submitted by members and the public:
Industry Advisory Committee

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule:Amendments to Standards for Waiver of Monthly Deductions Benefit 

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Standards for Waiver of Monthly Deductions Benefit  in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to ExpandAmendments Adopted August 2021

RAUS 2021-7: Additional Standards for Qualifying Events for Waiver of Monthly Deductions Benefits

PSC 8/12/2021 Recommendation to the Management Committee in Response to Written Comments

PSC 10/26/2020 Draft Recommendation for Feedback to the Management Committee in Response to the Written Comments

Product Standards Committee Response Summary for the Additional Standards For Waiver Of Premium Benefits For Total Disability And Other Qualifying Events and the Additional Standards For Waiver Of Monthly Deduction Benefits For Total Disability And Other Qualifying Events

PSC 7/28/2020 Draft Recommendation for Feedback to the Management Committee in Response to the Written Comments

Version Recommended by PSC to Management Committee

Subject Matter of Proposed Standard: The purpose of this rule is to amend the Additional Standards for Waiver of Monthly Deduction Benefits to add additional qualifying events beyond the current total disability trigger. See the Transmittal Memo for a more detailed description of the proposed new uniform standards.

Published Notices of Standard: Notice of this rule was published on December 12, 2019

Product Standards Committee Memoranda and Recommendations:

Comments Submitted by Members and the Public:

IIPRC-L-08-LB-I-WPB

Standard Checklist

Amended Checklist

Additional Standards for Waiver of Premium Benefit

Additional Standards for Waiver of Premium Benefits for Total Disability and Other Qualifying Events
Dec 4, 2014
Nov 29, 2021
Standard History

Subject Matter of Rule: These standards apply to the waiver of premiums due under an individual life insurance policy in the event that the insured becomes totally disabled under the terms of the policy form. The Standards apply to this benefit feature whether the feature is added to a policy by rider, endorsement, amendment or incorporation into a policy form.  The Standards include required and optional provisions for the benefit, such as any applicable exclusions, incontestability, misstatement of payor's age and termination.

Citation to Published Notices: Notice of this Rule was published on December 22, 2006

Name of persons requesting Public Hearing: Industry Advisory Committee

Date and Location of Public Hearing, if any: February 23, 2007, 12:30 CT/1:30 ET via conference call

Status of Rule (including upcoming meetings):  These standards have been issued for notice and comment.  Written comments will be accepted on these proposed new standards until January 23, 2007.  Written requests for a public hearing must be received no later than December 12, 2006.  A public hearing to receive comments is scheduled for February 23, 2007.  This proposed rule may be considered at a Management Committee meeting via conference call scheduled for February 26, 2007 and a Commission meeting via conference call scheduled for February 28, 2007. No further action is necessary on this Rule.

Date Approved by Management Committee: February 26, 2007 (Explanatory Statement)

Date Adopted by Commission: February 28, 2007

Effective Date of Rule: May 31, 2007

Link to Comments submitted by members and the public: 

Industry Advisory Committee

Click to Expand Amendments to Uniform Standards
Click to Expand5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Standards for Waiver of Premium Benefit

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Standards for Waiver of Premium Benefit in accordance with the 5-year Commission Review of Rules required by § 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on May 12, 2014

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 28th during the teleconference of the IIPRC Management Committee. Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until July 14, 2014. Written requests for a public hearing must be received no later than June 1, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to ExpandAmendments Adopted August 2021

RAUS 2021-8: Additional Standards for Qualifying Events for Waiver of Premium Benefits

PSC 8/12/2021 Recommendation to the Management Committee in Response to Written Comments

PSC 10/26/2020 Draft Recommendation for Feedback to the Management Committee in Response to the Written Comments

Product Standards Committee Response Summary for the Additional Standards For Waiver Of Premium Benefits For Total Disability And Other Qualifying Events and the Additional Standards For Waiver Of Monthly Deduction Benefits For Total Disability And Other Qualifying Events

PSC 7/28/2020 Draft Recommendation for Feedback to the Management Committee in Response to the Written Comments

Version Recommended by PSC to Management Committee

Subject Matter of Proposed Standard: The purpose of this rule is to amend the Additional Standards for Waiver of Premium Benefits to add additional qualifying events beyond the current total disability trigger. See the Transmittal Memo for a more detailed description of the proposed new uniform standards.

Published Notices of Standard: Notice of this rule was published on December 12, 2019

Product Standards Committee Memoranda and Recommendations:

Comments Submitted by Members and the Public:

IIPRC-L-08-MTC

Standard Checklist

Additional Mortality Table Change Standards Mar 5, 2015
Standard History

Subject Matter of Proposed Rule: The Additional Mortality Table Change Standards (the ?Proposed Standards?) specify submission requirements, form requirements and policy provisions for the filing of replacement pages for individual life insurance forms whose sole purpose is to effectuate a change of a mortality table approved by the NAIC for nonforfeiture purposes. If there are any other changes in addition to the mortality table, the entire form must be submitted for approval.

Citation to Published Notices:  Notice of this Rule was published on December 12, 2007.

Name of persons requesting Public Hearing : Commissioner Jane Cline, Chair

Date and Location of Public Hearing, if any: February 25, 2008, via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until February 10, 2008. Written requests for a public hearing must be received no later than January 1, 2008.

Date Approved by Management Committee: February 25, 2008

Date Adopted by Commission: March 28, 2008

Effective Date of Rule: July 7, 2008

Link to Comments submitted by members and the public: 
Comments from the Industry Advisory Committee 
Memo from Product Standards Committee Regarding Industry Advisory Committee Comments
Additional Industry Advisory Comments

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted November 2014

Date Amendment Approved by Management Committee: November 15, 2014

Date Amendment Adopted by Commission: November 15, 2014

Effective Date of Amendment to Rule: March 5, 2015

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Additional Standards for Mortality Table Change

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Additional Standards for Mortality Table Change in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.

Citation to Published Notices: Notice of this Rule was published on September 8, 2014.

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Public hearing was held on October 20th during a Management Committee teleconference. 

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until November 7, 2014. Written requests for a public hearing must be received no later than September 28, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

IIPRC-L08-LB-I-WSCB

Standard Checklist

Additional Standards for Waiver of Surrender Charge Benefit for Life Insurance Nov 29, 2021
Standard History

Subject Matter of Proposed Rule: The Additional Standards for Waiver of Surrender Charge Benefit for Life Insurance provide for the waiver of surrender charges made under an individual life insurance policy in the event that the insured becomes totally disabled or experiences any allowable qualifying event under the terms of the policy.  These standards apply to the benefit feature whether added to an individual life insurance policy by rider, endorsement or amendment or by incorporation into a policy form.  These standards apply in addition to the general form requirements contained in the Standards for All Benefit Features

Citation to Published Notices:  Notice of this rule was published on December 12, 2019

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: June 29, 2021, via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until February 10, 2020. Written requests for a public hearing must be received no later than January 2, 2020.

Date Approved by Management Committee: August 12, 2021

Date Adopted by Commission: August 12, 2021

Effective Date of Rule: November 29, 2021

Link to Comments submitted by members and the public:

Product Standards Committee Memoranda and Recommendations:

IIPRC-L-08-LB-I-WPBChild

Standard Checklist

Additional Standards for Waiver of Premium Benefit for Child Insurance in the Event of Payor’s Total Disability or Death Jul 18, 2016
Standard History

Subject Matter of Rule: The Standards for Waiver of Premium Benefit for Child Insurance in the Event of Payor?s Total Disability or Death provide for premiums due for an insured child under an individual life insurance policy to be waived in the event of the payor?s total disability or death under the terms of the policy.  The Standards apply to this benefit feature whether the feature is added to a policy by rider, endorsement, amendment or incorporation into a policy form.  The Standards include required and optional provisions for the benefit, such as any applicable exclusions, incontestability, misstatement of payor?s age, reinstatement, and termination.

Citation to Published Notices: Notice of this Rule was published on December 22, 2006.

Name of persons requesting Public Hearing Industry Advisory Committee

Date and Location of Public Hearing, if any: February 23, 2007, 12:30 CT/1:30 ET via conference call

Status of Rule (including upcoming meetings):  This operating procedure has been issued for notice and comment.  Written comments will be accepted on this proposed new operating procedure until February 20, 2007.  Written requests for a public hearing must be received no later than January 11, 2007.A public hearing to receive comments is scheduled for February 23, 2007. This proposed rule may be considered at a Management Committee meeting via conference call scheduled for February 26, 2007 and a Commission meeting via conference call scheduled for February 28, 2007. No further action is necessary on this Proposed Rule.

Date Approved by Management Committee: February 26, 2007 (Explanatory Statement)

Date Adopted by Commission: February 28, 2007

Effective Date of Rule: May 31, 2007

Original Version: Standards for Waiver of Premium Benefit for Child Insurance in the Event of Payor?s Total Disability or Death

Link to Comments submitted by members and the public:
Industry Advisory Committee

This rule has been amended.

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted April 2016

Name of Proposed Rule: Standards for Waiver of Premium Benefit for Child Insurance in the Event of Payor's Total Disability or Death

Subject Matter of Proposed Rule: The Standards for Waiver of Premium Benefit for Child Insurance in the Event of Payor's Total Disability or Death (the ?Proposed Standards?) apply to the benefit feature whether added to an individual life insurance policy by rider, endorsement or amendment. These Standards provide for premiums due for an insured child under an individual life insurance policy to be waived in the event of the payor?s total disability or death under the terms of the policy.

Citation to Published Notices: Notice of this rule was published on December 9, 2015

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Via teleconference, February 24, 2016

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until February 8, 2016. Written requests for a public hearing must be received no later than December 29, 2015.

Date Amended Version Approved by the Management Committee: April 2, 2016

Date Amended Version Adopted by Commission: April 2, 2016

Effective Date of Amended Rule: July 18, 2016

Memos from Product Standards Committee:

Link to Comments submitted by members and the public: 

Click to Expand INDIVIDUAL VARIABLE ANNUITY PRODUCT LINE
Citation NumberName of Standard/ProcedureEffective Date
IIPRC-A-03-I

Standard Checklist

Core Standards for Individual Deferred Variable Annuity Contracts Oct 13, 2021
Standard History

Subject Matter of Proposed Rule: The Standards For Individual Deferred Variable Annuity Contract Standards (the "Proposed Standards") specify submission requirements, form requirements and contract provisions for individual deferred variable annuity contracts; applying to annuity contracts that provides for a single premium, modified single premium, fixed or flexible premium payments over the life of a contract or for a limited payment period, and that provides for funds to be held in separate accounts only or in separate and general accounts.

Citation to Published Notices:  Notice of this Rule was published on December 12, 2007.

Version Noticed Out for 60-day Public Comment

Name of persons requesting Public Hearing : Commissioner Jane Cline, Chair

Date and Location of Public Hearing, if any: February 25, 2008, via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until February 10, 2008. Written requests for a public hearing must be received no later than January 1, 2008.

Date Approved by Management Committee: February 25, 2008 & April 28, 2008.  This Uniform Standard was referred back to the Product Standards Committee by the Commission on March 28 for further discussion and review.  The amended version (located below) was approved by the Management Committee on April 28.

Date Adopted by Commission: May 30, 2008

Effective Date of Rule: Sept. 11, 2008

Original Version: Core Standards for Individual Deferred Variable Annuity Contracts

Link to Comments submitted by members and the public: 
Comments from the Industry Advisory Committee
Industry Comments Inserted and Redlined
Amended Version of the Individual Deferred Variable Annuity Contract Standards

 

Click to Expand Amendments to Uniform Standards
Click to ExpandAmendments Adopted March 2009

Information Regarding the Amendment to the Standards:

Date Amendments Approved by Management Committee: Monday, February 23, 2009

Date Amendments Adopted by Commission: Saturday, March 14, 2009

Effective Date of Amendments to the Rule: June 25, 2009

Name of Proposed Rule: Amendments to Core Standards for Individual Deferred Variable Annuity Contracts

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Individual Deferred Variable Annuity Contract Standards. The amendments are to the Scope section, the Contract Guarantees and the Guidelines for Appendices A-1 and A-2 for Annuity Nonforfeiture Minimum Value Compliance for use with Individual Flexible Premium Deferred Variable Annuity products filed with the Interstate Insurance Product Regulation Commission. The amendments are intended to conform these standards with similar wording proposed in the Additional Standards for Bonus Benefits for Individual Deferred Variable Annuity Standards.

Citation to Published Notices:Notice of this Rule was published on December 12, 2008.

Name of persons requesting Public Hearing : Director Mary Jo Hudson, Ohio

Date and Location of Public Hearing, if any: Monday, February 23, 2009 via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until February 10, 2009. Written requests for a public hearing must be received no later than January 1, 2009.

Link to Comments submitted by members and the public:

Click to Expand5-Year Review Amendments Adopted November 2014

Date Amendment Approved by Management Committee: November 15, 2014

Date Amendment Adopted by Commission: November 15, 2014

Effective Date of Amendment to Rule: March 5, 2015

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Core Standards for Individual Deferred Variable Annuity Contracts

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Core Standards for Individual Deferred Variable Annuity Contracts in accordance with the 5-year Commission Review of Rules required by § 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.

Citation to Published Notices: Notice of this Rule was published on September 8, 2014.

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Public hearing was held on October 20th during a Management Committee teleconference. 

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until November 7, 2014. Written requests for a public hearing must be received no later than September 28, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to ExpandAmendments Adopted September 2017

Redlined Version of Adopted Standard

Name of Proposed Rule: Death Benefit Proceeds Amendment to Core Annuity Contract Uniform Standards

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Contract Provisions section of certain Annuity Uniform Standards. This amendment adds a Death Benefit Proceeds provision to the core annuity Uniform Standards, similar to the provision in the life Uniform Standards. The proposal also adds a completed claim form and a completed request for redemption form to the requirements for due proof of death. See the Transmittal Memo for a more detailed description of the proposed amendments.

This rule would amend the following Uniform Standards:

INDIVIDUAL VARIABLE ANNUITY PRODUCT LINE
Core Standards for Individual Deferred Variable Annuity Contracts 
Individual Immediate Variable Annuity Contract Standards

INDIVIDUAL NON-VARIABLE ANNUITY PRODUCT LINE
Core Standards for Individual Deferred Non-Variable Annuity Contracts 
Individual Immediate Non-Variable Annuity Contract Standards

Citation to Published Notices: Notice of this rule was published on June 29, 2017

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: August 5, 2017, during the Joint Meeting of the Management Committee and Commission

Status of Proposed Rule (including Upcoming Meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 28, 2017. Written requests for a public hearing must be received no later than July 19, 2017.

Date Approved by Management Committee: September 25, 2017

Date Adopted by Commission: September 25, 2017

Effective Date of Rule: January 8, 2018

Memos from Product Standards Committee:

Link to Comments Submitted to the Management Committee:

Click to ExpandNAIC Model 805 Amendments

Citation to Published Notices: Published Notice of Standard

Name of persons requesting Public Hearing: 

Date and Location of Public Hearding, if any: Via teleconference, May 25, 2021

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until April 14, 2021. Written requests for a public hearing must be received no later than May 24, 2021.

Date Amended Version Approved by the Management Committee: June 29, 2021

Date Amended Version Adopted by Commission: June 29, 2021

Effective Date of Amended Rule: October 13, 2021

Memos from Product Standards Committee:

Emergency Rules Adopted

IIPRC-A-03-I-BONUS

Standard Checklist

Additional Standards for Bonus Benefits for Individual Deferred Variable Annuity Contracts Oct 13, 2021
Standard History

Subject Matter of Proposed Rule: The Additional Standards for Bonus Benefits for Individual Deferred Variable Annuity Standards (the "Proposed Standards) apply to bonus benefits built into the annuity contract or added to such contract by rider, endorsement or amendment, which can be interest bonus, a premium bonus, a persistency bonus or any other amounts/percentages that are credited to the premiums paid, account value, cash value, cash surrender value or annuity/maturity value under a specified condition, other than benefits of the type described above that are provided through any pattern of non-level interest rate guarantees that may be similar to but are not specifically referred to as bonuses or additional credits.

Citation to Published Notices: Notice of this rule was published on December 12, 2008.

Name of persons requesting Public Hearing : Director Mary Jo Hudson

Date and Location of Public Hearing, if any: Monday, February 23, 2009 via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until February 10, 2009. Written requests for a public hearing must be received no later than January 1, 2009.

Date Approved by Management Committee: Monday, February 23, 2009

Date Adopted by Commission: Saturday, March 14, 2009

Effective Date of Rule: June 25, 2009

Original Version: Additional Standards for Bonus Benefits for Individual Deferred Variable Annuity Contracts

Link to Comments submitted by members and the public:
Industry Advisory Comments
Standards with IAC Comments Incorporated

This rule has been amended.

 

Click to Expand Amendments to Uniform Standards
Click to Expand5-Year Review Amendments Adopted April 2016

Name of Proposed Rule: Additional Standards for Bonus Benefits for Individual Deferred Variable Annuity Contracts

Subject Matter of Proposed Rule: The Additional Standards for Bonus Benefits for Individual Deferred Variable Annuity Contracts (the "Proposed Standards") apply to bonus benefits that are built into individual deferred variable annuity contracts or added to such contracts by rider, endorsement or amendment. The bonus benefit can be an interest bonus, a premium bonus, a persistency bonus or any other amounts/percentages that are credited to the premiums paid, account value, cash value, cash surrender value or annuity/maturity value under a specified condition, other than benefits of the type described above that are provided through any pattern of non-level interest rate guarantees on the general account portion of the contract that may be similar to but are not specifically referred to as bonuses or additional credits. The bonus benefit form may reference the bonus as a credit, enhancement, bonus or similar terminology.

Citation to Published Notices: Notice of this rule was published on December 9, 2015

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Via teleconference, February 24, 2016

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until February 8, 2016. Written requests for a public hearing must be received no later than December 29, 2015.

Date Amended Version Approved by the Management Committee: April 2, 2016

Date Amended Version Adopted by Commission: April 2, 2016

Effective Date of Amended Rule: July 18, 2016

Memos from Product Standards Committee:

Link to Comments submitted by members and the public:

Click to ExpandNAIC Model 805 Amendments

Citation to Published Notices: Published Notice of Standard

Name of persons requesting Public Hearing: 

Date and Location of Public Hearding, if any: Via teleconference, May 25, 2021

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until April 14, 2021. Written requests for a public hearing must be received no later than May 24, 2021.

Date Amended Version Approved by the Management Committee: June 29, 2021

Date Amended Version Adopted by Commission: June 29, 2021

Effective Date of Amended Rule: October 13, 2021

Memos from Product Standards Committee:

Emergency Rules Adopted

IIPRC-A-03-I-GLB

Standard Checklist

Additional Standards for Guaranteed Living Benefits for Individual Deferred Variable Annuities Oct 17, 2016
Standard History

Subject Matter of Proposed Rule: The Additional Standards for Guaranteed Living Benefits for Individual Deferred Variable Annuities (the ?Proposed Standards?) apply to guaranteed living benefits (GLB) that are built into individual deferred variable annuity contracts or added to such contracts by rider, endorsement or amendment. The GLB feature provides for a minimum guarantee under specified conditions for any of the following: (1) periodic withdrawals; (2) the annuitization amount and related annual income amount; or (3) the account value after a specified period of time. 

Citation to Published Notices: Notice of this rule was published on October 29, 2009.

Name of persons requesting Public Hearing : Director Mary Jo Hudson, Ohio

Date and Location of Public Hearing, if any: Friday, December 4, 2009 at 12:30 pm PT at the Hilton San Francisco Union Square, 333 O'Farrell Street, San Francisco, CA 94102 - Meeting Room: Grand Salon A - Grand Ballroom Level

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until December 28, 2009. Written requests for a public hearing must be received no later than November 18, 2009.

Date Approved by Management Committee: February 22, 2010

Date Adopted by Commission: February 22, 2010

Effective Date of Rule: June 3, 2010

Original Version of Standard: Additional Standards for Guaranteed Living Benefits for Individual Deferred Variable Annuities

Link to Comments submitted by members and the public: 
Comments from Birny Birnbaum submitted 10/23/09
Comments from LISA submitted during 10/13/09 Product Standards Committee Conference Call
Comments from LISA submitted during 10/26/09 Management Committee Conference Call
Comments from the ACLI submitted during 10/13/09 Product Standards Committee Conference Call
Comments from LISA submitted 12/02/09
Comments from Brad Harker (PA), Chair of the NAIC NSWG Annuity Subgroup, submitted 12/03/09 
Comments from State Representative Robert R. Damron (KY), IIPRC Legislative Committee Chair, submitted 12/04/2009 
Summary of Industry Advisory Comments from 12/4 Public Hearing
Comment from Bruce Ramge, Deputy Director, Nebraska Department of Insurance
Comments from Industry Advisory Committee submitted 1/05/2010
Comments from American Academy of Actuaries submitted 01/06/10
Comments from Life Insurance Settlement Association submitted 2/5/2010
Transmittal Memo from Product Standards Committee ? February 22, 2010 
Transmittal Memo from Product Standards Committee ? October 13, 2009

This rule has been amended.

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted June 2016

Redline Version of Adopted Standard: Additional Standards for Guaranteed Living Benefits for Individual Deferred Variable Annuities

Subject Matter of Proposed Rule: The Additional Standards for Guaranteed Living Benefits for Individual Deferred Variable Annuities apply to guaranteed living benefits (GLB) that are built into individual deferred variable annuity contracts or added to such contracts by rider, endorsement or amendment. The GLB feature provides for a minimum guarantee under specified conditions for any of the following: (1) periodic withdrawals (Guaranteed Minimum Withdrawal Benefit); (2) the annuitization amount and related annual income amount (Guaranteed Minimum Income Benefit); or (3) the account value after a specified period of time (Guaranteed Minimum Accumulation Benefit).

Citation to Published Notices: Notice of this rule was published on December 9, 2015

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: February 24, 2016 via teleconference.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until February 8, 2016. Written requests for a public hearing must be received no later than December 29, 2015.

Date Approved by Management Committee: May 23, 2016

Date Adopted by Commission: June 29, 2016

Effective Date of Rule: October 17, 2016

Memos from Product Standards Committee:

Link to Comments submitted by members and the public:

IIPRC-A-06-I

Standard Checklist

Individual Immediate Variable Annuity Contract Standards Jan 8, 2018
Standard History

Subject Matter of Proposed Rule:  The Standards For Individual Immediate Variable Annuity Contract (the ?Proposed Standards?) specify submission requirements, form requirements and contract provisions for individual life contingent immediate variable annuity, both with or without a period certain, that provide for a single premium payment, and that provide for funds to be held in separate accounts only or in separate and general accounts.

Citation to Published Notices:  Notice of this Rule was published on February 15, 2008.

Version Noticed Out for 60-day Public Comment

Name of persons requesting Public Hearing : Director Mary Jo Hudson, Vice Chair, Ohio

Date and Location of Public Hearing, if any: April 28, via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until April 15, 2008. Written requests for a public hearing must be received no later than March 6, 2008.

Date Approved by Management Committee: April 28, 2008

Date Adopted by Commission: May 30, 2008

Effective Date of Rule: September 11, 2008

Link to Comments submitted by members and the public: 
Industry Advisory comments on Individual Immediate Variable Annuity Contract Standards and Non-Variable Annuity Contract Standards

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted November 2014

Date Amendment Approved by Management Committee: November 15, 2014

Date Amendment Adopted by Commission: November 15, 2014

Effective Date of Amendment to Rule: March 5, 2015

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Individual Immediate Variable Annuity Contract Standards

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Immediate Variable Annuity Contract Standards in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.

Citation to Published Notices: Notice of this Rule was published on September 8, 2014.

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Public hearing was held on October 20th during a Management Committee teleconference. 

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until November 7, 2014. Written requests for a public hearing must be received no later than September 28, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand Amendments Adopted September 2017

Redlined Version of Adopted Standard

Name of Proposed Rule: Death Benefit Proceeds Amendment to Core Annuity Contract Uniform Standards

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Contract Provisions section of certain Annuity Uniform Standards. This amendment adds a Death Benefit Proceeds provision to the core annuity Uniform Standards, similar to the provision in the life Uniform Standards. The proposal also adds a completed claim form and a completed request for redemption form to the requirements for due proof of death. See the Transmittal Memo for a more detailed description of the proposed amendments.

This rule would amend the following Uniform Standards:

INDIVIDUAL VARIABLE ANNUITY PRODUCT LINE
Core Standards for Individual Deferred Variable Annuity Contracts 
Individual Immediate Variable Annuity Contract Standards

INDIVIDUAL NON-VARIABLE ANNUITY PRODUCT LINE
Core Standards for Individual Deferred Non-Variable Annuity Contracts 
Individual Immediate Non-Variable Annuity Contract Standards

Citation to Published Notices: Notice of this rule was published on June 29, 2017

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: August 5, 2017, during the Joint Meeting of the Management Committee and Commission

Status of Proposed Rule (including Upcoming Meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 28, 2017. Written requests for a public hearing must be received no later than July 19, 2017.

Date Approved by Management Committee: September 25, 2017

Date Adopted by Commission: September 25, 2017

Effective Date of Rule: January 8, 2018

Memos from Product Standards Committee:

Link to Comments Submitted to the Management Committee:

IIPRC-AB-03-I-PP

Standard Checklist

Additional Standards for Private Placement Plans for Individual Deferred Variable Annuity Contracts Nov 20, 2017
Standard History

Subject Matter of Rule: The Additional Standards for Private Placement Plans for Individual Deferred Variable Annuity Contracts (the ?Proposed Standards?) specify additional submission requirements for benefits that are built into individual deferred variable annuity contracts, that are issued exclusively to an accredited investor or qualified purchaser, and that vary in relation to the performance of an underlying separate account where the investment funds in the private placement separate account may be exempt from registration with the SEC.

Citation to Published Notices: Notice of this rule was published on January 5, 2011

Name of persons requesting Public Hearing: Commissioner Roger Sevigny, New Hampshire

Date and Location of Public Hearing, if any: March 25, 2011 Joint Meeting of the Management Committee and Commission in Austin, TX

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until March 6, 2011. Written requests for a public hearing must be received no later than January 25, 2011.

Date Approved by Management Committee: March 25, 2011

Date Adopted by Commission: March 25, 2011

Effective Date of Rule: July 3, 2011

Original Version: Additional Standards for Private Placement Plans for Individual Deferred Variable Annuity Contracts 

Link to Comments submitted by members and the public:

This rule has been amended.

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted August 2017

Redlined Version of Adopted Standard: Additional Standards for Private Placement Plans for Individual Deferred Variable Annuity Contracts

Subject Matter of Proposed Rule: The purpose of these amendments is to revise the Operating Procedures and Uniform Standards effective between January 1, 2011 and July 1, 2011 in accordance with the Five-Year Commission Review of Rules required by ?119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the Five-Year Review process limit the scope of review under ?119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.? See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on March 23, 2017

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: June 26, 2017 at 1:30 pm ET / 12:30 pm CT via teleconference

Status of Proposed Rule (including Upcoming Meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until May 22, 2017. Written requests for a public hearing must be received no later than April 12, 2017.

Date Amendment Approved by Management Committee: August 5, 2017

Date Amendment Adopted by Commission: August 5, 2017

Effective Date of Rule: November 20, 2017

Memos from Product Standards Committee:

Link to Comments Submitted by Members and the Public:

IIPRC-AB-I-GMDB

Standard Checklist

Additional Standards for Guaranteed Minimum Death Benefits for Individual Deferred Variable Annuities Jul 18, 2016
Standard History

Subject Matter of Proposed Rule:   The Additional Standards for Guaranteed Minimum Death Benefits for Individual Deferred Variable Annuities (the "Proposed Standards") apply to guaranteed minimum death benefits (GMDB) that are built into individual deferred variable annuity contracts or added to such contracts by rider, endorsement or amendment. The GMDB feature provides for a minimum guarantee under specified conditions for the contract death benefit.

Citation to Published Notices: Notice of this rule was published on October 29, 2009.

Name of persons requesting Public Hearing : Director Mary Jo Hudson, Ohio

Date and Location of Public Hearing, if any: Friday, December 4, 2009 at 12:30 pm PT at the Hilton San Francisco Union Square, 333 O'Farrell Street, San Francisco, CA 94102 - Meeting Room: Grand Salon A - Grand Ballroom Level

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until December 28, 2009. Written requests for a public hearing must be received no later than November 18, 2009.

Date Approved by Management Committee: February 22, 2010

Date Adopted by Commission: February 22, 2010

Effective Date of Rule: June 3, 2010

Original Version: Additional Standards for Guaranteed Minimum Death Benefits for Individual Deferred Variable Annuities

Link to Comments submitted by members and the public: 
Comments from Birny Birnbaum submitted 10/23/09
Comments from LISA submitted during 10/13/09 Product Standards Committee Conference Call
Comments from LISA submitted during 10/26/09 Management Committee Conference Call
Comments from the ACLI submitted during 10/13/09 Product Standards Committee Conference Call
Comments from LISA submitted 12/02/09
Comments from Brad Harker (PA), Chair of the NAIC NSWG Annuity Subgroup, submitted 12/03/09
Comments from State Representative Robert R. Damron (KY), IIPRC Legislative Committee Chair, submitted 12/04/2009 
Summary of Industry Advisory Comments from 12/4 Public Hearing
Comment from Bruce Ramge, Deputy Director, Nebraska Department of Insurance
Comments from Industry Advisory Committee submitted 1/05/2010
Comments from American Academy of Actuaries submitted 01/06/10
Comments from Life Insurance Settlement Association submitted 2/5/2010

This rule has been amended.

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted April 2016

Name of Proposed Rule: Additional Standards for Guaranteed Minimum Death Benefits for Individual Deferred Variable Annuities

Subject Matter of Proposed Rule: The Additional Standards for Guaranteed Minimum Death Benefits for Individual Deferred Variable Annuities (the ?Proposed Standards?) apply to guaranteed minimum death benefits (GMDB) that are built into individual deferred variable annuity contracts or added to such contracts by rider, endorsement or amendment. The GMDB feature provides for a minimum guarantee under specified conditions for the contract death benefit. These standards do not apply to GMDB features for Individual Deferred Non-Variable Annuities.

Citation to Published Notices: Notice of this rule was published on December 9, 2015

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Via teleconference, February 24, 2016

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until February 8, 2016. Written requests for a public hearing must be received no later than December 29, 2015.

Date Amended Version Approved by the Management Committee: April 2, 2016

Date Amended Version Adopted by Commission: April 2, 2016

Effective Date of Amended Rule: July 18, 2016

Memos from Product Standards Committee:

Link to Comments submitted by members and the public:

Click to Expand INDIVIDUAL NON-VARIABLE ANNUITY PRODUCT LINE
Citation NumberName of Standard/ProcedureEffective Date
IIPRC-A-02-I

Standard Checklist

Core Standards for Individual Deferred Non-Variable Annuity Contract Oct 13, 2021
Standard History

Subject Matter of Proposed Rule: The Standards For Individual Deferred Non-Variable Annuity Contracts (the "Proposed Standards") specify submission requirements, form requirements and contract provisions for individual deferred non-variable annuity contracts; applying to annuity contracts contract that provide for a single premium, modified single premium, fixed or flexible premium payments over the life of a contract or for a limited payment period, and that provides for all funds to be held in the general account.

Citation to Published Notices:  Notice of this Rule was published on December 12, 2007.

Version Noticed Out for 60-day Public Comment

Name of persons requesting Public Hearing : Commissioner Jane Cline, Chair

Date and Location of Public Hearing, if any: February 25, 2008, via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until February 10, 2008. Written requests for a public hearing must be received no later than January 1, 2008. This rule was recommended by the Product Standards Committee on February 25, 2008 to return to the Product Standards Committee for further discussion regarding the non-forfeiture value prospective test. The Management Committee approved the recommendation. A conference call with the Product Standards Committee has been scheduled for March 14, 2008 (please see Event Calendar) for further discussion.

Date Approved by Management Committee: April 28, 2008

Date Adopted by Commission: May 30, 2008

Effective Date of Rule: September 11, 2008

Origional Version: Individual Deferred Non-Variable Annuity Contract Standards

Link to Comments submitted by members and the public: 
Comments from the Industry Advisory Committee
Industry Comments Inserted and Redlined
Alaska Comments 
Amended Standards to reflect Alaska 
Industry Advisory Comments regarding Amended version
Comments from Utah

 

Click to Expand Amendments to Uniform Standards
Click to ExpandAmendments Adopted October 2008

Date Amendment Approved by Management Committee: October 27, 2008

Date Amendment Adopted by Commission: October 29, 2008

Individual Deferred Non-Variable Annuity Contract Standards adopted October 29, 2008.

Effective Date of Amendment to Rule: February 12, 2009

Information Regarding the Amendment to the Standards:

Name of Proposed Rule: Amendments to Individual Deferred Non-Variable Annuity Contract Standards

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Individual Deferred Non-Variable Annuity Contract Standards. The amendments are to the Scope section, the Contract Guarantees and the Guidelines for Appendices a-1 and A-2 for Annuity Nonforfeiture Minimum Value Compliance for use with Individual Flexible Premium Deferred Non-Variable Annuity products filed with the Interstate Insurance Product Regulation Commission.

Citation to Published Notices:Notice of this Rule was published on August 27, 2008.

Name of persons requesting Public Hearing : Director Mary Jo Hudson, Ohio

Date and Location of Public Hearing, if any: October 27, 2008 via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until October 26, 2008. Written requests for a public hearing must be received no later than September 16, 2008.

Link to Comments submitted by members and the public:

Click to ExpandAmendments Adopted October 2011

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the core standards for individual deferred non-variable annuity contracts, specifically the scope to account for deferred non-variable annuity contracts with cash surrender values prior to the commencement of annuity payments.

Citation to Published Notices: Notice of this rule was published on August 6, 2010.

Name of persons requesting Public Hearing : Director Mary Jo Hudson, Chair

Date and Location of Public Hearing, if any: October 17, 2010, 1:00 ET at the Gaylord Palms Resort & Convention Center, 6000 W. Osceola Pkwy, Kissimmee, FL 34746-4414

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until October 5, 2010. Written requests for a public hearing must be received no later than August 26, 2010.

Date Approved by Management Committee: October 17, 2011

Date Adopted by Commission: October 17, 2011

Effective Date of Rule: January 15, 2011

Link to Comments submitted by members and the public:

Click to Expand5-Year Review Amendments Adopted November 2014

Date Amendment Approved by Management Committee: November 15, 2014

Date Amendment Adopted by Commission: November 15, 2014

Effective Date of Amendment to Rule: March 5, 2015

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Individual Deferred Non-Variable Annuity Contract Standards

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Deferred Non-Variable Annuity Contract Standards in accordance with the 5-year Commission Review of Rules required by § 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.

Citation to Published Notices: Notice of this Rule was published on September 8, 2014.

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Public hearing was held on October 20th during a Management Committee teleconference. 

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until November 7, 2014. Written requests for a public hearing must be received no later than September 28, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to ExpandAmendments Adopted September 2017

Redlined Version of Adopted Standard

Name of Proposed Rule: Death Benefit Proceeds Amendment to Core Annuity Contract Uniform Standards

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Contract Provisions section of certain Annuity Uniform Standards. This amendment adds a Death Benefit Proceeds provision to the core annuity Uniform Standards, similar to the provision in the life Uniform Standards. The proposal also adds a completed claim form and a completed request for redemption form to the requirements for due proof of death. See the Transmittal Memo for a more detailed description of the proposed amendments.

This rule would amend the following Uniform Standards:

INDIVIDUAL VARIABLE ANNUITY PRODUCT LINE
Core Standards for Individual Deferred Variable Annuity Contracts 
Individual Immediate Variable Annuity Contract Standards

INDIVIDUAL NON-VARIABLE ANNUITY PRODUCT LINE
Core Standards for Individual Deferred Non-Variable Annuity Contracts 
Individual Immediate Non-Variable Annuity Contract Standards

Citation to Published Notices: Notice of this rule was published on June 29, 2017

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: August 5, 2017, during the Joint Meeting of the Management Committee and Commission

Status of Proposed Rule (including Upcoming Meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 28, 2017. Written requests for a public hearing must be received no later than July 19, 2017.

Date Approved by Management Committee: September 25, 2017

Date Adopted by Commission: September 25, 2017

Effective Date of Rule: January 8, 2018

Memos from Product Standards Committee:

Link to Comments Submitted to the Management Committee:

Click to ExpandNAIC Model 805 Amendments

Citation to Published Notices: Published Notice of Standard

Name of persons requesting Public Hearing: 

Date and Location of Public Hearding, if any: Via teleconference, May 25, 2021

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until April 14, 2021. Written requests for a public hearing must be received no later than May 24, 2021.

Date Amended Version Approved by the Management Committee: June 29, 2021

Date Amended Version Adopted by Commission: June 29, 2021

Effective Date of Amended Rule: October 13, 2021

Memos from Product Standards Committee:

Emergency Rules Adopted

IIPRC-A-05-I

Standard Checklist

Individual Immediate Non-Variable Annuity Contract Standards Jan 8, 2018
Standard History

Subject Matter of Proposed Rule: The Standards For Individual Immediate Non-Variable Annuity Contract (the ?Proposed Standards?) specify submission requirements, form requirements and contract provisions for individual life contingent immediate non-variable annuity, both with or without a period certain, that provide for a single premium payment, modified single premium or flexible premium payments and that provide for all funds to be held in the general account.

Citation to Published Notices:  Notice of this Rule was published on February 27, 2008.

Version Noticed Out for 60 Day Public Comment

Name of persons requesting Public Hearing : Director Mary Jo Hudson, Vice Chair, Ohio

Date and Location of Public Hearing, if any: April 28, via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until April 27, 2008. Written requests for a public hearing must be received no later than March 18, 2008.

Date Approved by Management Committee: April 28, 2008

Date Adopted by Commission: May 30, 2008

Effective Date of Rule: September 11, 2008

Original Version: Version Individual Immediate Non-Variable Annuity Contract Standards

Link to Comments submitted by members and the public:
Comments from the Industry Advisory Committee

Click to Expand Amendments to Uniform Standards
Click to Expand Amendments Adopted June 2009

Information Regarding the Amendment to the Standards:

Date Amendments Approved by Management Committee: June 12, 2009

Date Amendments Adopted by Commission: June 12, 2009

Effective Date of Amendments to the Rule: September 27, 2009

Name of Proposed Rule: Amendment To Individual Immediate Non-Variable Annuity Contract Standards

Subject Matter of Proposed Rule:  The purpose of this rule is to amend the Individual Immediate Non-Variable Annuity Contract Standards. The amendments are to address the funding of structured settlements by means of Individual Immediate Non-Variable Annuity products filed with the Interstate Insurance Product Regulation Commission.

Citation to Published Notices: Notice of this rule was published on March 24, 2009.

Name of persons requesting Public Hearing :

Date and Location of Public Hearing, if any: June 12, 2009 in Minneapolis, MN

Status of Proposed Rule (including upcoming meetings):The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until May 24, 2009. Written requests for a public hearing must be received no later than April 14, 2009.

Link to Comments submitted by members and the public:

Click to Expand 5-Year Review Amendments Adopted November 2014

Date Amendment Approved by Management Committee: November 15, 2014

Date Amendment Adopted by Commission: November 15, 2014

Effective Date of Amendment to Rule: March 5, 2015

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Individual Immediate Non-Variable Annuity Contract Standards (Including Contracts Used to Fund Structured Settlement Agreements)

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Individual Immediate Non-Variable Annuity Contract Standards (Including Contracts Used to Fund Structured Settlement Agreements) in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.

Citation to Published Notices: Notice of this Rule was published on September 8, 2014.

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Public hearing was held on October 20th during a Management Committee teleconference. 

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until November 7, 2014. Written requests for a public hearing must be received no later than September 28, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand Amendments Adopted September 2017

Redlined Version of Adopted Standard

Name of Proposed Rule: Death Benefit Proceeds Amendment to Core Annuity Contract Uniform Standards

Subject Matter of Proposed Rule: The purpose of this rule is to amend the Contract Provisions section of certain Annuity Uniform Standards. This amendment adds a Death Benefit Proceeds provision to the core annuity Uniform Standards, similar to the provision in the life Uniform Standards. The proposal also adds a completed claim form and a completed request for redemption form to the requirements for due proof of death. See the Transmittal Memo for a more detailed description of the proposed amendments.

This rule would amend the following Uniform Standards:

INDIVIDUAL VARIABLE ANNUITY PRODUCT LINE
Core Standards for Individual Deferred Variable Annuity Contracts 
Individual Immediate Variable Annuity Contract Standards

INDIVIDUAL NON-VARIABLE ANNUITY PRODUCT LINE
Core Standards for Individual Deferred Non-Variable Annuity Contracts 
Individual Immediate Non-Variable Annuity Contract Standards

Citation to Published Notices: Notice of this rule was published on June 29, 2017

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: August 5, 2017, during the Joint Meeting of the Management Committee and Commission

Status of Proposed Rule (including Upcoming Meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 28, 2017. Written requests for a public hearing must be received no later than July 19, 2017.

Date Approved by Management Committee: September 25, 2017

Date Adopted by Commission: September 25, 2017

Effective Date of Rule: January 8, 2018

Memos from Product Standards Committee:

Link to Comments Submitted to the Management Committee:

IIPRC-A-07-I-1

Standard Checklist

Additional Standards For Index-Linked Crediting Feature for Deferred Non-Variable Annuities Oct 13, 2021
Standard History

Effective Date of Standard: September 11, 2008
Date Approved by Management Committee: April 28, 2008
Date Adopted by Commission: May 30, 2008

Adopted Standard: Additional Standards For Index-Linked Crediting Feature for Deferred Non-Variable Annuities
Version Recommended by PSC to Management Committee: Additional Standards for Index-Linked Crediting Feature for Deferred Non-Variable Annuities 

Subject Matter of Standard: The Additional Standards For Index-Linked Crediting Feature for Deferred Non-Variable Annuities (the "Standards") specify additional submission requirements concerning the calculation of the nonforfeiture values; applying to benefits that are built-in to deferred non-variable annuity contract forms.

Published Notices of Standard: Notice of this Rule was published on February 15, 2008.

Date and Location of Public Hearing, if any: April 28, via teleconference

Comments Submitted by Members and the Public: 
Industry Advisory comments on Index-Linked Crediting Feature for Deferred Non-Variable Annuities
Industry Advisory Committee Redlined Version of the Index-Linked Crediting Feature for Deferred Non-Variable Annuities

 

 

Click to Expand Amendments to Uniform Standards
Click to Expand5-Year Review Amendments Adopted November 2014

Effective Date of Standard: March 5, 2015
Date Amendment Approved by Management Committee: November 15, 2014
Date Amendment Adopted by Commission: November 15, 2014

Adopted Standard: Additional Standards for Index-Linked Crediting feature for Deferred Non-Variable Annuities and the General Account Portion of Individual Deferred Variable Annuity Contracts
Version Recommended by PSC to Management Committee: Amendments to Additional Standards for Index-Linked Crediting Feature for Deferred Non-Variable Annuities And The General Account Portion Of Individual Deferred Variable Annuity Contracts

Subject Matter of Standard: The purpose of this amendment is to revise the Additional Standards for Index-Linked Crediting Feature for Deferred Non-Variable Annuities And The General Account Portion Of Individual Deferred Variable Annuity Contracts in accordance with the Five-Year Commission Review of Rules required by § 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the Five-Year Review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.

Published Notices of Standard: Notice of this Rule was published on September 8, 2014.

Date and Location of Public Hearing, if any: Public hearing was held on October 20, 2014, during a Management Committee teleconference. 

Report and Recommendations:

Comments Submitted by Members and the Public:

 

Click to ExpandNAIC Model 805 Amendments

Citation to Published Notices: Published Notice of Standard

Name of persons requesting Public Hearing: 

Date and Location of Public Hearding, if any: Via teleconference, May 25, 2021

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until April 14, 2021. Written requests for a public hearing must be received no later than May 24, 2021.

Date Amended Version Approved by the Management Committee: June 29, 2021

Date Amended Version Adopted by Commission: June 29, 2021

Effective Date of Amended Rule: October 13, 2021

Memos from Product Standards Committee:

Emergency Rules Adopted

IIPRC-A02-I-LONG

Standard Checklist

Individual Deferred Paid-Up Non-Variable Annuity Contract Standards (Commonly Marketed as Deferred Income Annuities or Longevity Annuities) Nov 20, 2017
Standard History

Subject Matter of Proposed Rule: The Individual Deferred Paid-Up Non-Variable Annuity Contract Standards (the ?Proposed Standards?) specify submission requirements for individual deferred non-variable annuities with no cash surrender values prior to the commencement of annuity payments for a single premium or flexible premiums over the deferral period of the contract and specified income payments beginning on a specified income commencement date for each premium paid; applying to benefits that are built-in to deferred non-variable annuity contracts or added to such contract forms by rider, amendment or endorsement.

Citation to Published Notices: Notice of this rule was published on August 6, 2010.

Name of persons requesting Public Hearing : Director Mary Jo Hudson, Chair

Date and Location of Public Hearing, if any: October 17, 2010, 1:00 ET at the Gaylord Palms Resort & Convention Center, 6000 W. Osceola Pkwy, Kissimmee, FL 34746-4414

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until October 5, 2010. Written requests for a public hearing must be received no later than August 26, 2010.

Date Approved by Management Committee: October 17, 2010

Date Adopted by Commission: October 17, 2010

Effective Date of Rule: January 15, 2011

Original Version: Individual Deferred Paid-Up Non-Variable Annuity Contract Standards (Commonly Marketed as Longevity Standards)

Link to Comments submitted by members and the public:

This rule has been amended.

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted August 2017

Redlined Version of Adopted Standard: Individual Deferred Paid-Up Non-Variable Annuity Contract Standards (Commonly Marketed as Longevity Annuities)

Subject Matter of Proposed Rule: The purpose of these amendments is to revise the Operating Procedures and Uniform Standards effective between January 1, 2011 and July 1, 2011 in accordance with the Five-Year Commission Review of Rules required by ?119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the Five-Year Review process limit the scope of review under ?119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.? See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on March 23, 2017

Name of Persons Requesting Public Hearing:

Date and Location of Public Hearing, if any: June 26, 2017 at 1:30 pm ET / 12:30 pm CT via teleconference

Status of Proposed Rule (including Upcoming Meetings): The Proposed Amendments have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until May 22, 2017. Written requests for a public hearing must be received no later than April 12, 2017.

Date Amendment Approved by Management Committee: August 5, 2017

Date Amendment Adopted by Commission: August 5, 2017

Effective Date of Rule: November 20, 2017

Memos from Product Standards Committee:

Link to Comments Submitted by Members and the Public:

IIPRC-AB-02-I-BONUS

Standard Checklist

Additional Standards for Bonus Benefits (for Individual Deferred Non-Variable Annuities) Oct 13, 2021
Standard History

Subject Matter of Proposed Rule:   The Additional Standards for Bonus Benefits (for Individual Deferred Non-Variable Annuity Standards) (the "Proposed Standards) apply to bonus benefit which can be interest bonus, a premium bonus, a persistency bonus or any other amounts/percentages that are credited to the premiums paid, account value, cash value, cash surrender value or annuity/maturity value under a specified condition, other than benefits of the type described above that are provided through any pattern of non-level interest rate guarantees that may be similar to but are not specifically referred to as bonuses or additional credits; applying to provisions that are either built into the annuity contract or added to such contract by rider, endorsement or amendment.

Citation to Published Notices: Notice of this Rule was published on August 27, 2008.

Name of persons requesting Public Hearing : Director Mary Jo Hudson, Ohio

Date and Location of Public Hearing, if any: October 27, 2008 via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until October 26, 2008. Written requests for a public hearing must be received no later than September 16, 2008.

Date Approved by Management Committee: October 27, 2008

Date Adopted by Commission: October 29, 2008

Effective Date of Rule: February 12, 2009

Link to Comments submitted by members and the public:

Click to Expand Amendments to Uniform Standards
Click to Expand5-Year Review Amendments Adopted November 2014

Date Amendment Approved by Management Committee: November 15, 2014

Date Amendment Adopted by Commission: November 15, 2014

Effective Date of Amendment to Rule: March 5, 2015

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Additional Standards for Bonus Benefits (for Individual Deferred Non-Variable Annuities)

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Additional Standards for Bonus Benefits (for Individual Deferred Non-Variable Annuities) in accordance with the 5-year Commission Review of Rules required by § 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.

Citation to Published Notices: Notice of this Rule was published on September 8, 2014.

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Public hearing was held on October 20th during a Management Committee teleconference. 

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until November 7, 2014. Written requests for a public hearing must be received no later than September 28, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

 

Click to ExpandNAIC Model 805 Amendments

Citation to Published Notices: Published Notice of Standard

Name of persons requesting Public Hearing: 

Date and Location of Public Hearding, if any: Via teleconference, May 25, 2021

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until April 14, 2021. Written requests for a public hearing must be received no later than May 24, 2021.

Date Amended Version Approved by the Management Committee: June 29, 2021

Date Amended Version Adopted by Commission: June 29, 2021

Effective Date of Amended Rule: October 13, 2021

Memos from Product Standards Committee:

Emergency Rules Adopted

IIPRC-AB-02-I-GLB

Standard Checklist

Additional Standards for Guaranteed Living Benefits for Individual Deferred Non-Variable Annuities Oct 17, 2016
Standard History

Subject Matter of Proposed Rule:  The Additional Standards for Guaranteed Living Benefits for Individual Deferred Non-Variable Annuities (the ?Proposed Standards?) apply to guaranteed living benefits (GLB) that are built into individual deferred non-variable annuity contracts (including index-linked annuities) or added to such contracts by rider, endorsement or amendment. The GLB feature provides for a minimum guarantee under specified conditions for any of the following: (1) periodic withdrawals; (2) the annuitization amount and related annual income amount; or (3) the account value after a specified period of time.

Citation to Published Notices: Notice of this rule was published on October 29, 2009.

Name of persons requesting Public Hearing : Director Mary Jo Hudson, Ohio

Date and Location of Public Hearing, if any: Friday, December 4, 2009 at 12:30 pm PT at the Hilton San Francisco Union Square, 333 O'Farrell Street, San Francisco, CA 94102 - Meeting Room: Grand Salon A - Grand Ballroom Level

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until December 28, 2009. Written requests for a public hearing must be received no later than November 18, 2009.

Date Approved by Management Committee: February 22, 2010

Date Adopted by Commission: February 22, 2010

Effective Date of Rule: June 3, 2010

Original Version of Standard: Additional Standards for Guaranteed Living Benefits for Individual Deferred Non-Variable Annuities

Link to Comments submitted by members and the public: 
Comments from Birny Birnbaum submitted 10/23/09
Comments from LISA submitted during 10/13/09 Product Standards Committee Conference Call
Comments from LISA submitted during 10/26/09 Management Committee Conference Call
Comments from the ACLI submitted during 10/13/09 Product Standards Committee Conference Call
Comments from LISA submitted 12/02/09
Comments from Brad Harker (PA), Chair of the NAIC NSWG Annuity Subgroup, submitted 12/03/09 
Comments from State Representative Robert R. Damron (KY), IIPRC Legislative Committee Chair, submitted 12/04/2009 
Summary of Industry Advisory Comments from 12/4 Public Hearing
Comment from Bruce Ramge, Deputy Director, Nebraska Department of Insurance
Comments from Industry Advisory Committee submitted 01/05/2010
Comments from American Academy of Actuaries submitted 01/06/10
Comments from Life Insurance Settlement Association submitted 2/5/2010
Transmittal Memo from Product Standards Committee ? February 22, 2010 
Transmittal Memo from Product Standards Committee ? October 13, 2009

This rule has been amended.

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted June 2016

Redline Version of Adopted Standard: Additional Standards for Guaranteed Living Benefits for Individual Deferred Non-Variable Annuities

Subject Matter of Proposed Rule: The Additional Standards for Guaranteed Living Benefits for Individual Deferred Non-Variable Annuities (the ?Proposed Standards?) apply to guaranteed living benefits (GLB) that are built into individual deferred non-variable annuity contracts (including index-linked annuities) or added to such contracts by rider, endorsement or amendment. The GLB feature provides for a minimum guarantee under specified conditions for any of the following: (1) periodic withdrawals (Guaranteed Minimum Withdrawal Benefit); (2) the annuitization amount and related annual income amount (Guaranteed Minimum Income Benefit); or (3) the account value after a specified period of time (Guaranteed Minimum Accumulation Benefit).

Citation to Published Notices: Notice of this rule was published on December 9, 2015

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: February 24, 2016 via teleconference.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until February 8, 2016. Written requests for a public hearing must be received no later than December 29, 2015.

Date Approved by Management Committee: May 23, 2016

Date Adopted by Commission: June 29, 2016

Effective Date of Rule: October 17, 2016

Memos from Product Standards Committee:

Link to Comments submitted by members and the public:

IIPRC-AB-02-I-GMDB

Standard Checklist

Additional Standards for Incidental Guaranteed Minimum Death Benefits for Individual Deferred Non-Variable Annuities Apr 2, 2014
Standard History

Name of Proposed Rule: Additional Standards for Incidental Guaranteed Minimum Death Benefits for Individual Deferred Non-Variable Annuities

Subject Matter of Proposed Rule: Additional Standards for Incidental Guaranteed Minimum Death Benefits for Individual Deferred Non-Variable apply to Incidental Guaranteed Minimum Death Benefits (GMDB) that are built into individual deferred non-variable annuity contracts or added to such contracts by rider, endorsement or amendment. An Incidental GMDB provides for death benefits that may exceed the account value at time of death and is subject to the definition below. Forms that provide GMDB in excess of these incidental designs shall not be submitted under these standards.

Citation to Published Notices: Notice of this rule was published on May 23, 2013

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Monday, July 22 via teleconference during the joint meeting of the Management Committee and Commission.  Please reference the Event Calendar for more details.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until May 11, 2013. Written requests for a public hearing must be received no later than April 1, 2013.

Date Approved by Management Committee: December 14, 2013

Date Adopted by Commission: December 14, 2013

Effective Date of Rule: April 2, 2014

Link to Comments submitted by members and the public:
Comments submitted by Life Insurance Company of the Southwest ? June 10th, 2013
Comments submitted by Jason Wade, Ohio Department of Insurance ? June 24th, 2013
Comments submitted by Members of the Industry Advisory Committee ? August 7th, 2013 
Product Standards Committee and Actuarial Working Group Recommendations on Public Comments To Management Committee on Incidental GMDB Uniform Standards
Supporting Materials Memo
Transmittal Memo for Group Term Life Insurance Standards for Accelerated Death Benefits and Additional Standards for Incidental Guaranteed Minimum Death Benefits for Individual Non-Variable Deferred Annuities

IIPRC-AB-02-I-Index

Standard Checklist

Additional Standards for Index-Linked Payment Adjustment Benefit Mar 5, 2015
Standard History

Subject Matter of Proposed Rule:  The Additional Standards for Index-Linked Payment Adjustment Benefit (the "Proposed Standards) apply to index-linked annuity payment adjustment benefits that are built-in to individual immediate non-variable annuity contracts or are added to such contracts at issue by rider, amendment or endorsement. These standards apply to any adjustments to annuity payments that are triggered by a change in an index one or more times during the life of the contract; applying to adjustments that are either built into the contract or added by rider, endorsement or amendment.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008.

Name of persons requesting Public Hearing : Commissioner Glen Wilson

Date and Location of Public Hearing, if any: August 25, 2008, via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 5, 2008. Written requests for a public hearing must be received no later than June 26, 2008.

Date Approved by Management Committee: Monday, August 25, 2008

Date Adopted by Commission: August 27, 2008

Effective Date of Rule: December 14, 2008

Link to Comments submitted by members and the public:

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted November 2014

Date Amendment Approved by Management Committee: November 15, 2014

Date Amendment Adopted by Commission: November 15, 2014

Effective Date of Amendment to Rule: March 5, 2015

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Additional Standards for Index-Linked Payment Adjustment Benefit

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Additional Standards for Index-Linked Payment Adjustment Benefit in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.

Citation to Published Notices: Notice of this Rule was published on September 8, 2014.

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Public hearing was held on October 20th during a Management Committee teleconference. 

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until November 7, 2014. Written requests for a public hearing must be received no later than September 28, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand STANDARDS FOR INDIVIDUAL ANNUITY BENEFIT FEATURES
Citation NumberName of Standard/ProcedureEffective Date
IIPRC-A-07-I-2

Standard Checklist

Additional Standards for Market Value Adjustment Feature Provided Through the General Account Oct 13, 2021
Standard History

Subject Matter of Proposed Rule: The Additional Standards for Market Value Adjustment Feature Provided Solely through the General Account (the "Proposed Standards") apply to market value adjustment (MVA) features that are built into individual deferred non-variable annuities (including index-linked annuities) or added to such contract by rider, endorsement or amendment.  The MVA is a positive or negative adjustment that may apply to the account value/cash value of the annuity upon withdrawal, surrender, or annuitization, based upon the movement of an index or the company's current guaranteed interest rate being offered on new premium (or new rates for renewal periods for CD annuities), if that withdrawal, surrender, or annuitization occurs at a time other than on a specified guaranteed benefit date.

Citation to Published Notices: Notice of this rule was published on February 26, 2009

Name of persons requesting Public Hearing : Director Mary Jo Hudson, Ohio

Date and Location of Public Hearing, if any: via teleconference, April 27, 2009

Status of Proposed Rule (including upcoming meetings):The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until April 27, 2009. Written requests for a public hearing must be received no later than March 18, 2009.

Date Approved by Management Committee: April 27, 2009

Date Adopted by Commission: April 30, 2009

Effective Date of Rule: August 17, 2009

Original Version: Additional Standards for Market Value Adjustment Feature Provided Through the General Account

This rule has been amended.

Click to Expand Amendments to Uniform Standards
Click to ExpandAmendments Adopted March 2010

Name of Proposed Rule:  Amendment to Remove Drafting Note in Additional Standards for Market Value Adjustment Feature Provided through the General Account

Subject Matter of Proposed Rule: The Amendment to Remove Drafting Note in Additional Standards for Market Value Adjustment Feature Provided through the General Account ("Proposed Amendment") applies to remove the drafting note in Appendix B of the existing standards, in order to clarify that the prospective test in the Standard Nonforfeiture Law for Individual Deferred Annuities, NAIC Model #805, does not apply to the benefits provided through these standards.

Citation to Published Notices:  Notice of this rule was published on January 22, 2010.

Name of persons requesting Public Hearing : Director Mary Jo Hudson, Ohio

Date and Location of Public Hearing, if any: Thursday, March 25, 2010 at 1:00 p.m. MT at the Hyatt Regency and Colorado Convention Center, Denver Colorado, Meeting Room to be determined.

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until March 23, 2010. Written requests for a public hearing must be received no later than February 11, 2010.

Date Amendment Approved by Management Committee: March 25, 2010

Date Amendment Adopted by Commission: March 25, 2010

Effective Date of Amendment to Rule: June 18, 2010

Click to Expand5-Year Review Amendments Adopted April 2016

Name of Proposed Rule: Additional Standards for Market Value Adjustment Feature Provided Through the General Account

Subject Matter of Proposed Rule: In the amended Uniform Standards the separate limitation on surrender charge (7%/7 years) for non-Multi-Year Interest Rate Guarantee Annuities (non-MYGA MVA) has been removed. Even with the elimination of the limitations, nonforfeiture and cash surrender values will still be subject to the retrospective and prospective test minimums, and because the IIPRC standard requires a maturity date equal to the later of age 70 or 10 years for purposes of the prospective test, surrender charges are limited to approximately 10% grading down over 10 years for most issue ages. Additionally, the actuarial opinion included in the original Uniform Standards was deleted, and an actuarial certification similar to the certification required under the IIPRC's Additional Standards for Bonus Benefits for Individual Deferred Variable Annuity Contracts will be required. Lastly, some actuarial memorandum requirements were clarified to include a demonstration that the values of the contract comply with the nonforfeiture requirements, including Appendix A-1 and A-2 of the Individual Deferred Non-Variable Annuity Contract Standards and that modifications to the demonstrations are found in Appendix B.

Citation to Published Notices: Notice of this rule was published on December 9, 2015

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Via teleconference, February 24, 2016

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until February 8, 2016. Written requests for a public hearing must be received no later than December 29, 2015.

Date Amended Version Approved by the Management Committee: April 2, 2016

Date Amended Version Adopted by Commission: April 2, 2016

Effective Date of Amended Rule: July 18, 2016

Memos from Product Standards Committee:

Link to Comments submitted by members and the public:

Click to ExpandNAIC Model 805 Amendments

Citation to Published Notices: Published Notice of Standard

Name of persons requesting Public Hearing: 

Date and Location of Public Hearding, if any: Via teleconference, May 25, 2021

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until April 14, 2021. Written requests for a public hearing must be received no later than May 24, 2021.

Date Amended Version Approved by the Management Committee: June 29, 2021

Date Amended Version Adopted by Commission: June 29, 2021

Effective Date of Amended Rule: October 13, 2021

Memos from Product Standards Committee:

Emergency Rules Adopted

IIPRC-A-07-I-3

Standard Checklist

Additional Standards for Market Value Adjustment Feature Provided through a Separate Account Jul 18, 2016
Standard History

Subject Matter of Proposed Rule: The Additional Standards for Market Value Adjustment Feature Provided through a Separate Account (the ?Proposed Standards") apply to market value adjustment (MVA) features that are built into individual  deferred non-variable annuity contracts and the non-variable portions of individual deferred variable annuities (including index-linked annuities) or added to such contracts by rider, endorsement or amendment; and are also known as Modified Guaranteed Annuity (MGA). The MVA feature of an MGA is a positive or negative adjustment that may apply to the account value/cash value of the annuity upon withdrawal, surrender, or annuitization, based upon the movement of an index or the company?s current guaranteed interest rate being offered on new premium (or new rates for renewal periods for CD annuities), if that withdrawal, surrender, or annuitization occurs at a time other than on a specified guaranteed benefit date.

Citation to Published Notices: Notice of this rule was published on February 26, 2009

Name of persons requesting Public Hearing : Director Mary Jo Hudson, Ohio

Date and Location of Public Hearing, if any: via teleconference, April 27, 2009

Status of Proposed Rule (including upcoming meetings):The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until April 27, 2009. Written requests for a public hearing must be received no later than March 18, 2009.

Date Approved by Management Committee: April 27, 2009

Date Adopted by Commission: April 30, 2009

Effective Date of Rule: August 17, 2009

Original Version: Additional Standards for Market Value Adjustment Feature Provided through a Separate Account

Link to Comments submitted by members and the public:
Industry Advisory Committee Comments

This rule has been amended.

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted April 2016

Name of Proposed Rule: Additional Standards for Market Value Adjustment Feature Provided Through a Separate Account

Subject Matter of Proposed Rule: In the amended Uniform Standards the separate limitation on surrender charge (7%/7 years) for non-Multi-Year Interest Rate Guarantee Annuities (non-MYGA MVA) has been removed. Even with the elimination of the limitations, nonforfeiture and cash surrender values will still be subject to the retrospective and prospective test minimums, and because the IIPRC standard requires a maturity date equal to the later of age 70 or 10 years for purposes of the prospective test, surrender charges are limited to approximately 10% grading down over 10 years for most issue ages. Additionally, the actuarial opinion included in the original Uniform Standards was deleted, and an actuarial certification similar to the certification required under the IIPRC?s Additional Standards for Bonus Benefits for Individual Deferred Variable Annuity Contracts will be required. Lastly, some actuarial memorandum requirements were clarified to include a demonstration that the values of the contract comply with the nonforfeiture requirements, including Appendix A-1 and A-2 of the Individual Deferred Non-Variable Annuity Contract Standards and that modifications to the demonstrations are found in Appendix B.

Citation to Published Notices: Notice of this rule was published on December 9, 2015

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Via teleconference, February 24, 2016

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until February 8, 2016. Written requests for a public hearing must be received no later than December 29, 2015.

Date Amended Version Approved by the Management Committee: April 2, 2016

Date Amended Version Adopted by Commission: April 2, 2016

Effective Date of Amended Rule: July 18, 2016

Memos from Product Standards Committee:

Link to Comments submitted by members and the public:

IIPRC-AB-I-CB

Standard Checklist

Additional Standards for Riders, Endorsements or Amendments Used to Effect Individual Annuity Contract Changes Mar 5, 2015
Standard History

Subject Matter of Proposed Rule:  The Additional Standards for Riders, Endorsements or Amendments Used to Effect Individual Annuity Contract Changes (the "Proposed Standards") apply to riders, endorsements or amendments that are used to effect contract changes that have been requested for an individual annuity contract by the owner and not to forms used to provide tax qualified plan provisions, as separate standards apply to these forms. Contract change forms may be attached to the individual annuity contract on the contract date of issue or after the contract date of issue.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008.

Name of persons requesting Public Hearing : Commissioner Glen Wilson

Date and Location of Public Hearing, if any: August 25, 2008, via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 5, 2008. Written requests for a public hearing must be received no later than June 26, 2008.

Date Approved by Management Committee: Monday, August 25, 2008

Date Adopted by Commission: August 27, 2008

Effective Date of Rule: December 14, 2008

Link to Comments submitted by members and the public:

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted November 2014

Date Amendment Approved by Management Committee: November 15, 2014

Date Amendment Adopted by Commission: November 15, 2014

Effective Date of Amendment to Rule: March 5, 2015

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed RuleAmendments to Additional Standards for Riders, Endorsements or Amendments Used to Effect Individual Annuity Contract Changes

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Additional Standards for Riders, Endorsements or Amendments Used to Effect Individual Annuity Contract Changes in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.

Citation to Published Notices: Notice of this Rule was published on September 8, 2014.

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Public hearing was held on October 20th during a Management Committee teleconference. 

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until November 7, 2014. Written requests for a public hearing must be received no later than September 28, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

IIPRC-AB-I-TQ

Standard Checklist

Additional Standards for Forms Used to Provide Tax Qualified Plan Provisions for Individual Annuity Contracts Mar 5, 2015
Standard History

Subject Matter of Proposed Rule:  The Additional Standards for Forms Used to Provide Tax Qualified Plan Provisions for Individual Annuity Contracts (the "Proposed Standards") apply to provisions that are required in individual annuity contracts to comply with specified tax code requirements applicable to such contracts when they are intended to be issued as tax qualified plans; applying to provisions that are either built into the annuity contract or added to such contract by rider, endorsement or amendment.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2008.

Name of persons requesting Public Hearing : Commissioner Glen Wilson

Date and Location of Public Hearing, if any: August 25, 2008, via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 5, 2008. Written requests for a public hearing must be received no later than June 26, 2008.

Date Approved by Management Committee: Monday, August 25, 2008

Date Adopted by Commission: August 27, 2008

Effective Date of Rule: November 25, 2008

Link to Comments submitted by members and the public: 
Comments from the Industry Advisory Committee

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted November 2014

Date Amendment Approved by Management Committee: November 15, 2014

Date Amendment Adopted by Commission: November 15, 2014

Effective Date of Amendment to Rule: March 5, 2015

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Additional Standards for forms Used to Provide Tax Qualified Plan Provisions for Individual Annuity Contracts

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Additional Standards for Forms Used to Provide Tax Qualified Plan Provisions for Individual Annuity Contracts in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.

Citation to Published Notices: Notice of this Rule was published on September 8, 2014.

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Public hearing was held on October 20th during a Management Committee teleconference. 

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until November 7, 2014. Written requests for a public hearing must be received no later than September 28, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

IIPRC-AB-I-WSC

Standard Checklist

Additional Standards for Waiver of Surrender Charge Benefit Mar 5, 2015
Standard History

Subject Matter of Proposed Rule:  The Additional Standards for Waiver of Surrender Charge Benefits (the "Proposed Standards") apply to waiver of surrender charge benefits built into individual deferred variable and non-variable annuity contracts or added to such contracts by rider, endorsement or amendment. The waiver benefits are triggered by a qualifying event associated with either the annuitant or owner, as specified in the contract or waiver benefit form.

Citation to Published Notices:  Notice of this Rule was published on June 6, 2007.

Name of persons requesting Public Hearing : Commissioner Glen Wilson

Date and Location of Public Hearing, if any: August 25, 2008, via teleconference

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until August 5, 2008 . Written requests for a public hearing must be received no later than June 26, 2008 .

Date Approved by Management Committee: Monday, August 25, 2008

Date Adopted by Commission: August 27, 2008

Effective Date of Rule: December 14, 2008

Link to Comments submitted by members and the public: 
Comments from the Industry Advisory Committee

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted November 2014

Date Amendment Approved by Management Committee: November 15, 2014

Date Amendment Adopted by Commission: November 15, 2014

Effective Date of Amendment to Rule: March 5, 2015

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Additional Standards for Waiver Of Surrender Charge Benefit

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Additional Standards for Waiver Of Surrender Charge Benefit in accordance with the 5-year Commission Review of Rules required by ? 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.

Citation to Published Notices: Notice of this Rule was published on September 8, 2014.

Name of persons requesting Public Hearing:

Date and Location of Public Hearing, if any: Public hearing was held on October 20th during a Management Committee teleconference. 

Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until November 7, 2014. Written requests for a public hearing must be received no later than September 28, 2014.

Report and Recommendations:

Link to Comments submitted by members and the public:

Click to Expand INDIVIDUAL LONG-TERM CARE INSURANCE PRODUCT LINE | State Participation Information
Citation NumberName of Standard/ProcedureEffective Date
IIPRC-LTC-I-3-ADV

Standard Checklist

Standards for Individual Long-Term Care Insurance Advertising Material Arizona, Connecticut, Delaware, District of Columbia, Indiana, Montana, and New Jersey have opted out of these Uniform Standards. Oct 10, 2017
Standard History

 

Click to Expand Five-Year Review Amendments Adopted June 2017 (Current Version)

Effective Date of Standard: October 10, 2017
Date Amendment Approved by Management Committee: June 26, 2017
Date Amendment Adopted by Commission: June 26, 2017

Adopted Standard: Standards for Individual Long-Term Care Insurance Advertising Material
Redlined Version of Adopted Standard
Version Recommended by PSC to Management Committee

Subject Matter of Standard: The purpose of these amendments is to revise the Operating Procedures and Uniform Standards effective between July 1, 2010 and December 31, 2010, in accordance with the Five-Year Commission Review of Rules required by ?119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the Five-Year Review process limit the scope of review under ?119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.? See the Transmittal Memo for a more detailed description of the proposed amendments.

Published Notices of Standard: Notice of this rule was published on September 1, 2016

Date and Location of Public Hearing, if any: November 7, 2016, at 1:30 pm ET / 12:30 pm CT via teleconferenceMemos from Product Standards Committee.

Reports and Recommendations:

?Comments Submitted by Members and the Public: None

States who have opted out of the Uniform Standards: 

  • Arizona
  • Connecticut
  • District of Columbia
  • Hawaii
  • Indiana
  • Montana
  • New Jersey
Click to Expand Initial Adoption

Effective Date of Standard: December 1, 2010
Date Approved by Management Committee: August 13, 2010
Date Adopted by Commission: August 13, 2010

Adopted Standard: Standards for Individual Long-Term Care Insurance Advertising Material
Version recommended by PSC to Management Committee on December 29, 2009
Version recommended by PSC to Management Committee on January 11, 2010

Subject Matter of Standard: The Standards for Individual Long-Term Care Insurance Advertising Material (the ?Standards?) apply to all individual long-term care insurance advertisements and advertising material for use with individual long-term care insurance forms filed with and approved by the Interstate Insurance Product Regulation Commission.

Published Notices of Standard: Notice of this rule was published on January 21, 2010.

Date and Location of Public Hearing, if any: Thursday, March 25, 2010 at 3:00 p.m. MT at the Hyatt Regency and Colorado Convention Center, Denver Colorado, Meeting Room: Centennial D - 3rd Level.

Product Standards Committee Memoranda and Recommendations:

Comments Submitted by Members and the Public:

States who have opted out of the Uniform Standards:

  • Arizona
  • Connecticut
  • District of Columbia
  • Hawaii
  • Indiana
  • Montana
  • New Jersey
IIPRC-LTC-I-3-AMEND

Standard Checklist

Standards for Riders, Endorsements or Amendments Used to Effect Individual Long-Term Care Insurance Policy Change Arizona, Connecticut, Delaware, District of Columbia, Indiana, Montana, and New Jersey have opted out of these Uniform Standards. Oct 10, 2017
Standard History

 

Click to Expand Five-Year Review Amendments Adopted June 2017 (Current Version)

Effective Date of Standard: October 10, 2017
Date Amendment Approved by Management Committee: June 26, 2017
Date Amendment Adopted by Commission: June 26, 2017

Adopted Standard: Standards for Riders, Endorsements or Amendments Used to Effect Individual Long-Term Care Insurance Policy Changes
Redlined Version of Adopted Standard
Version Recommended by PSC to Management Committee

Subject Matter of Standard: The purpose of these amendments is to revise the Operating Procedures and Uniform Standards effective between July 1, 2010 and December 31, 2010, in accordance with the Five-Year Commission Review of Rules required by ?119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the Five-Year Review process limit the scope of review under ?119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.? See the Transmittal Memo for a more detailed description of the proposed amendments.

Published Notices of Standard: Notice of this rule was published on September 1, 2016

Date and Location of Public Hearing, if any: November 7, 2016, at 1:30 pm ET / 12:30 pm CT via teleconference

Reports and Recommendations from the Product Standards Committee:

Comments Submitted by Members and the Public: None

States who have opted out of the Uniform Standards:

  • Arizona
  • Connecticut
  • District of Columbia
  • Hawaii
  • Indiana
  • Montana
  • New Jersey
Click to Expand Initial Adoption

?Effective Date of Standard: December 1, 2010
Date Approved by Management Committee: August 13, 2010
Date Adopted by Commission: August 13, 2010

Subject Matter of Standard:The Standards for Riders, Endorsements or Amendments Used to Effect Individual Long-Term Care Insurance Policy Changes (the "Standards") apply to riders, endorsements or amendments that are used to effect policy changes that have been requested for an individual long-term care insurance policy by the owner. Such policy change forms may be attached to the individual long-term care insurance policy on the policy date of issue or after the policy date of issue.

Published Notices of Standard: Notice of this rule was published on January 21, 2010.

Date and Location of Public Hearing, if any: Thursday, March 25, 2010 at 3:00 p.m. MT at the Hyatt Regency and Colorado Convention Center, Denver Colorado, Meeting Room: Centennial D - 3rd Level.

Adopted Standard: Standards for Riders, Endorsements or Amendments Used to Effect Individual Long-Term Care Insurance Policy Changes
Version Recommended by PSC to Management Committee

Product Standards Committee Memoranda and Recommendations:

Comments Submitted by Members and the Public:

States who have opted out of the Uniform Standards:

  • Arizona
  • Connecticut
  • District of Columbia
  • Hawaii
  • Indiana
  • Montana
  • New Jersey
IIPRC-LTC-I-3-BEN

Standard Checklist

Standards for Long-Term Care Insurance Benefit Features Arizona, Connecticut, Delaware, District of Columbia, Indiana, Montana, and New Jersey have opted out of these Uniform Standards. Oct 10, 2017
Standard History

 

Click to Expand Five-Year Review Amendments Adopted June 2017 (Current Version)

Effective Date of Standard: October 10, 2017
Date Amendment Approved by Management Committee: June 26, 2017
Date Amendment Adopted by Commission: June 26, 2017

Adopted Standard: Standards for Long-Term Care Insurance Benefit Features
Redlined Version of Adopted Standard
Version Recommended by PSC to Management Committee

Subject Matter of Standard: The purpose of these amendments is to revise the Operating Procedures and Uniform Standards effective between July 1, 2010 and December 31, 2010, in accordance with the Five-Year Commission Review of Rules required by ?119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the Five-Year Review process limit the scope of review under ?119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.? See the Transmittal Memo for a more detailed description of the proposed amendments.

Published Notices of Standard: Notice of this rule was published on September 1, 2016

Date and Location of Public Hearing, if any: November 7, 2016, at 1:30 pm ET / 12:30 pm CT via teleconference

Reports and Recommendations:

Link to Comments Submitted by Members and the Public: None

States who have opted out of the Uniform Standards:

  • Arizona
  • Connecticut
  • District of Columbia
  • Hawaii
  • Indiana
  • Montana
  • New Jersey
Click to Expand Initial Adoption

Effective Date of Standard: December 1, 2010
Date Approved by Management Committee: August 13, 2010
Date Adopted by Commission: August 13, 2010

Adopted Standard: Standards for Long-Term Care Insurance Benefit Features
Version Recommended by PSC to Management Committee on December 29, 2009

Subject Matter of Standard: The Standards for Long-Term Care Insurance Benefit Features (the ?Standards?) apply to forms that include long-term care insurance benefit features as part of individual long-term care insurance plan. As used in these standards, the term ?form? shall mean: (1) Long-term care insurance benefit features that are built into an individual long-term care, life or disability insurance policy, or an individual annuity contract; or (2) Long-term care insurance benefit features that are added by rider, endorsement or amendment to an individual long-term care, life or disability insurance policy, or an individual annuity contract. Regardless of how issued, the long-term care insurance benefit features that are included as part of the individual long-term care insurance plan shall be subject to the requirements specified in these standards. For non-long-term care insurance policies that include long-term care insurance benefit features, these standards shall only apply to the long-term care benefit features.

Published Notices of Standard: Notice of this rule was published on January 21, 2010.

Date and Location of Public Hearing, if any: Thursday, March 25, 2010 at 3:00 p.m. MT at the Hyatt Regency and Colorado Convention Center, Denver Colorado, Meeting Room: Centennial D - 3rd Level.

Product Standards Committee Memoranda and Recommendations:

Comments Submitted by Members and the Public:

States who have opted out of the Uniform Standards:

  • Arizona
  • Connecticut
  • District of Columbia
  • Hawaii
  • Indiana
  • Montana
  • New Jersey
IIPRC-LTC-I-3-CORE

Standard Checklist

Core Standards for Individual Long-Term Care Insurance Policies Arizona, Connecticut, Delaware, District of Columbia, Indiana, Montana, and New Jersey have opted out of these Uniform Standards. Oct 10, 2017
Standard History

 

Click to Expand Five-Year Review Amendments Adopted June 2017 (Current Version)

Effective Date of Standard: October 10, 2017
Date Amendment Approved by Management Committee: June 26, 2017
Date Amendment Adopted by Commission: June 26, 2017

Adopted Standard: Core Standards for Individual Long-Term Care Insurance Policies
Redlined Version of Adopted Standard
Version Recommended by PSC to Management Committee

Subject Matter of Standard: The purpose of these amendments is to revise the Operating Procedures and Uniform Standards effective between July 1, 2010 and December 31, 2010, in accordance with the Five-Year Commission Review of Rules required by ?119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the Five-Year Review process limit the scope of review under ?119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.? See the Transmittal Memo for a more detailed description of the proposed amendments.

Published Notices of Standard: Notice of this rule was published on September 1, 2016

Date and Location of Public Hearing, if any: November 7, 2016, at 1:30 pm ET / 12:30 pm CT via teleconference

Reports and Recommendations:

Comments Submitted by Members and the Public:

States who have opted out of the Uniform Standards:

  • Arizona
  • Connecticut
  • District of Columbia
  • Hawaii
  • Indiana
  • Montana
  • New Jersey
Click to Expand Initial Adoption

Effective Date of Standard: December 1, 2010
Date Approved by Management Committee: August 13, 2010
Date Adopted by Commission: August 13, 2010

Adopted Standard: Core Standards for Individual Long-Term Care Insurance Policies
Versions Recommended by the PSC to the Management Committee:

Subject Matter of Standard: The Core Standards for Individual Long-Term Care Insurance Policies (the ?Standards?) apply to individual long-term care insurance. Any product advertised, marketed or offered as long-term care insurance shall be subject to these standards. Long-term care insurance shall provide benefits for one or more of the following: nursing home care, assisted living care or home health care and adult day care. Only those policies, riders, endorsements or amendments that provide all such benefits may be titled ?long-term care insurance? without further clarification. Policies, riders, endorsements or amendments that provide less than all such benefits shall be titled appropriately to indicate to the owner the types of coverages available under the policy, and may be filed and approved under these standards.

Published Notices of Standard: Notice of this rule was published on January 21, 2010.

Date and Location of Public Hearing, if any: Thursday, March 25, 2010 at 3:00 p.m. MT at the Hyatt Regency and Colorado Convention Center, Denver Colorado, Meeting Room: Centennial D - 3rd Level.

Product Standards Committee Memoranda and Recommendations:

Comments Submitted by Members and the Public:

States who have opted out of the Uniform Standards:

  • Arizona
  • Connecticut
  • District of Columbia
  • Hawaii
  • Indiana
  • Montana
  • New Jersey
IIPRC-LTC-I-3-OC

Standard Checklist

Individual Long-Term Care Insurance Standards for the Outline of Coverage Arizona, Connecticut, Delaware, District of Columbia, Indiana, Montana, and New Jersey have opted out of these Uniform Standards. Oct 10, 2017
Standard History

 

Click to Expand Five-Year Review Amendments Adopted June 2017 (Current Version)

Effective Date of Standard: October 10, 2017
Date Amendment Approved by Management Committee: June 26, 2017
Date Amendment Adopted by Commission: June 26, 2017

Adopted Standard: Individual Long-Term Care Insurance Standards for the Outline of Coverage
Redline Version of Adopted Standard
Version Recommended by PSC to Management Committee

Subject Matter of Standard: The purpose of these amendments is to revise the Operating Procedures and Uniform Standards effective between July 1, 2010 and December 31, 2010, in accordance with the Five-Year Commission Review of Rules required by ?119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the Five-Year Review process limit the scope of review under ?119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.? See the Transmittal Memo for a more detailed description of the proposed amendments.

Published Notices of Standard: Notice of this rule was published on September 1, 2016

Date and Location of Public Hearing, if any: November 7, 2016, at 1:30 pm ET / 12:30 pm CT via teleconference

Reports and Recommendations:

Comments Submitted by Members and the Public:

States who have opted out of the Uniform Standards:

  • Arizona
  • Connecticut
  • District of Columbia
  • Hawaii
  • Indiana
  • Montana
  • New Jersey
Click to Expand Initial Adoption

Effective Date of Standard: December 1, 2010
Date Approved by Management Committee: August 13, 2010
Date Adopted by Commission: August 13, 2010

Adopted Standard: Individual Long-Term Care Insurance Standards for the Outline of Coverage
Versions Recommended by PSC to the Management Committee:

Subject Matter of Standard: The Individual Long-Term Care Insurance Standards for the Outline of Coverage (the "Standards") apply to the long-term care insurance outline of coverage required by Section 1A(1)(b) of the Core Standards for Individual Long-Term Care Insurance Policies.

Published Notices of Standard: Notice of this rule was published on January 21, 2010.

Date and Location of Public Hearing, if any: Thursday, March 25, 2010 at 3:00 p.m. MT at the Hyatt Regency and Colorado Convention Center, Denver Colorado, Meeting Room: Centennial D - 3rd Level.

Product Standards Committee Memoranda and Recommendation:

Comments Submitted by Members and the Public:

States who have opted out of the Uniform Standards:

  • Arizona
  • Connecticut
  • District of Columbia
  • Hawaii
  • Indiana
  • Montana
  • New Jersey
IIPRC-LTC-I-3-RATEI

Initial Checklist

Annual Checklist

Triennial Checklist

Rate Filing Standards for Individual Long-Term Care Insurance–Issue Age Rate Schedules Only Arizona, Connecticut, Delaware, District of Columbia, Indiana, Montana, and New Jersey have opted out of these Uniform Standards. Oct 10, 2017
Standard History

 

Click to Expand Five-Year Review Amendments Adopted June 2017 (Current Version)

Effective Date of Standard: October 10, 2017
Date Amendment Approved by Management Committee: June 26, 2017
Date Amendment Adopted by Commission: June 26, 2017

Adopted Standard: Rate Filing Standards for Individual Long-Term Care Insurance - Issue Age Rate Schedule Only
Redline Version of Adopted Standard
Version Recommended by PSC to Management Committee 

Subject Matter of Standard: The purpose of these amendments is to revise the Operating Procedures and Uniform Standards effective between July 1, 2010 and December 31, 2010, in accordance with the Five-Year Commission Review of Rules required by ?119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the Five-Year Review process limit the scope of review under ?119 to identifying ?the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed.? See the Transmittal Memo for a more detailed description of the proposed amendments.

Published Notices of Standard: Notice of this rule was published on September 1, 2016

Date and Location of Public Hearing, if any: November 7, 2016, at 1:30 pm ET / 12:30 pm CT via teleconference

Reports and Recommendations:

Comments Submitted by Members and the Public:

States who have opted out of the Uniform Standards:

  • Arizona
  • Connecticut
  • District of Columbia
  • Hawaii
  • Indiana
  • Montana
  • New Jersey
Click to Expand Amendments Adopted April 2011

Effective Date of Standard: August 11, 2011
Date Amendment Adopted by Management Committee: April 25, 2011
Date Amendment Adopted by Commission: April 25, 2011

Adopted Standard: Rate Filing Standards for Individual Long-Term Care Insurance - Issue Age Rate Schedules Only
Redline Version of Adopted Standard

Subject Matter of Standard: The Rate Filing Standards for Individual Long-Term Care Insurance (Issue Age Rate Schedules Only) (the ?Standards?) amendments specify additional reporting requirements for the required annual reporting with regard to forms that are no longer marketed or when a company reports that approved premium rate schedules may no longer be sufficient; as well as descriptions of combination long-term care insurance, life insurance and annuity products to which the rate filing standards do not apply.

Published Notices of Standard: Notice of this rule was published on February 3, 2011

Date and Location of Public Hearing, if any: March 25, 2011 Joint Meeting of the Management Committee and Commission in Austin, TX

Memoranda from the Product Standards Committee: 

Comments Submitted by Members and the Public: None.

States who have opted out of the Uniform Standards:

  • Arizona
  • Connecticut
  • District of Columbia
  • Hawaii
  • Indiana
  • Montana
  • New Jersey
Click to Expand Initial Adoption

Effective Date of Standard: December 1, 2010
?Date Approved by Management Committee: August 13, 2010
Date Adopted by Commission: August 13, 2010

Adopted Standard: Rate Filing Standards for Individual Long-Term Care Insurance?Issue Age Rate Schedules Only
Versions Recommended by PSC to the Management Committee:

Subject Matter of Standard: The Rate Filing Standards for Individual-Long Term Care Insurance?Issue Age Rate Schedules Only (the ?Standards?) apply to initial rate schedules for individual long-term care insurance where premiums are based on issue age and are not expected to change during the premium-paying period due to attained age or duration since issue. The Standards also apply to subsequent filings to increase premium rate schedules for individual long-term care insurance with issue age rate schedules.

Published Notices of Standard: Notice of this rule was published on January 21, 2010.

Date and Location of Public Hearing, if any: Thursday, March 25, 2010 at 3:00 p.m. MT at the Hyatt Regency and Colorado Convention Center, Denver Colorado, Meeting Room: Centennial D - 3rd Level.

Product Standards Committee Memoranda and Recommendations: