Weekly Tip: Availability of Mix and Match for Group Annuity Uniform Standards

Weekly Tips

Availability of Mix and Match for Group Annuity Uniform Standards

1/30/20

Did you know that the Group Annuity Certificate Uniform Standards for Employer Groups, the Uniform Standards for Group Guaranteed Interest Contracts for Non-Variable Annuities for Employer Groups, and the amended Group Policyholder Application Uniform Standards will become effective for filing on March 30th? Are you curious whether Mix and Match will be permitted for these new and updated Uniform Standards? Wonder no more.

The Compact?s Mix and Match process derives from ?111 of the Operating Procedure for the Filing and Approval of Product Filings (?Product Filing Rule?), which permits Commission Product Components to be used with State Product Components, provided the Statement of Intent (?SOI?) identifies the state approved forms that will be used with the Compact approved forms. Product components are defined in ?102 of the Product Filing Rule.

As always, the permissibility of Mix and Match is detailed on the first page of each set of Uniform Standards (located right after the Scope section). Filers can use the following chart as a quick reference guide for the suite of group annuity Uniform Standards.

Availability of Mix and Match for Group Annuity Uniform Standards

If you have any questions about the Mix and Match process, or about Group Annuity Uniform Standards in general, please contact the Insurance Compact Office.