Life Insurance & Financial Planning Committee

All model laws and resolutions on this page have been adopted by the NCOIL Executive Committee, unless otherwise indicated.

 

MODEL LAWS

Model Unclaimed Life Insurance Benefits Act - Originally Adopted 11/20/11; Amended Version Adopted 11/23/14; Readopted 3/17/19

Life Settlements Model Act - Originally Adopted 11/17/00; Amended Versions Adopted 7/16/04, 11/16/07; Readopted 3/9/14, 3/17/19

Secondary Addressee Model Act – Originally Adopted 11/20/96; Readopted 7/12/01, 2/27/04, 7/22/06, 2/26/12, 3/4/17; Amended Version Adopted 7/15/17

Insurance Compliance Self-Evaluative Privilege Model Act - Originally Adopted 3/1/98; Readopted 7/13/01, 2/27/04, 7/22/06, 2/26/12, 3/4/17

Beneficiaries' Bill of Rights (regarding retained asset accounts) – Originally Adopted 11/21/10; Readopted 2/28/16

Life Insurance Consumer Disclosure Model Act – Originally Adopted 11/21/10; Readopted 2/28/16

Long Term Care Tax Credit Model Act – Originally Adopted 7/10/98; Readopted 3/2/01, 7/11/03, 3/4/05, 3/7/10, 2/28/16

 

RESOLUTIONS

In Support of Good Samaritans' Efforts to Prevent Loss of Life Due to Opioid Efforts - Adopted 3/17/19

In Opposition to the United States Department of Labor (DOL) Fiduciary Rule - Adopted 11/20/16

In Support of Regulating Use of Senior-Specific Certifications/Designations – Adopted 2/26/12

In Support of Expanding Annuity Suitability Requirements – Adopted 3/6/11

Recognizing September 2009 as Life Insurance Awareness Month – Adopted 7/12/09

In Support of State Insurance Commissioner Authority Over Fixed Indexed Annuity Products – Adopted 11/23/08

Recognizing September 2008 as Life Insurance Awareness Month – Adopted 7/13/08

Recognizing September 2007 as Life Insurance Awareness Month – Adopted 7/21/07

Regarding Enforcement of Existing State Insurable Interest Laws, Stranger-Originated Life Insurance (STOLI), and Related NAIC Action -- Adopted 3/3/07

In Support of Expanding Annuity Suitability Requirements - Adopted 11/11/06

Recognizing September 2006 as Life Insurance Awareness Month – Adopted 7/22/06

Regarding Improving Access to Underinsured Life Insurance Markets - Adopted 7/8/05

Opposing Expansion of State Insurable Interest Laws -- Adopted 3/4/05

Urging Congress to Enact Long-Term Care Partnership Legislation -- Adopted 11/19/04

In Support of Modifying the Standard Nonforfeiture Law for Fixed Annuities to Adjust the Guaranteed Minimum Interest Rate -- Adopted 11/22/02

Position Statement in Opposition to any Federal Deferred Acquisition Cost (DAC) Tax Increase – Originally Adopted 2/26/99; Readopted 3/2/01

 

LETTERS

Letter Urging Department of Labor to Consult with State Officials re: “Fiduciary” Definition, Concerns Exist – 7/28/15

Letter to Senate Finance Committee Reaffirming NCOIL Unclaimed Benefits Model Act Consumer Protections/Use of DMF - 4/15/13

Letter to Sen. Harkin Supporting S. 3217 Amendment to Nullify SEC Annuities Rule 151A ─ 5/13/10

Letter to NAIC Expressing Concern with Capital/Surplus Relief Efforts -- 7/21/09

Letter to NAIC Regarding Reconsideration of Capital/Surplus Relief Initiative -- 1/26/09

Letter to NAIC Objecting to Hybrid Life Settlements Reference -- 12/1/08