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

Proposed Paid Family Leave Income Replacement Benefits Model Act - Submitted by American Council of Life Insurers (ACLI) - Draft as of February 5, 2020

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