News

Are you ready to spring to it and file with the new Group Whole Life Uniform Standards for employer groups with the Insurance Compact? Starting on Monday, April 1st, the Insurance Compact can accept group whole life filings for employer/employee groups.
 
The following Uniform Standards were adopted on December 3rd. The Uniform Standards have seasoned for the requisite 90-day period and are effective for filing use on Monday, April 1st. No fooling! You may find the Uniform Standards on the Record Adopted Standards page of the Compact website. These Standards track the form and benefit components available in other group product lines today, with the addition of graded death benefits for whole life insurance.   

• Group Whole Life Insurance Policy and Certificate Uniform Standards for Employer Groups
• Uniform Standards for Group Whole Life Insurance Enrollment Forms and Statement of Insurability Forms
• Uniform Standards for Group Whole Life Insurance Statement of Insurability Change Form 
• Uniform Standards for Riders, Endorsements or Amendments Used to Effect Group Whole Life Insurance Certificate Changes
• Uniform Standards for Riders, Endorsements or Amendments Used to Effect Group Whole Life Insurance Policy Changes
• Group Whole Life Insurance Uniform Standards for Accelerated Death Benefits
• Group Whole Life Insurance Uniform Standards for Accidental Death Benefits
• Group Whole Life Insurance Uniform Standards for Accidental Death and Dismemberment Benefits
• Additional Standards for Graded Death Benefit for Whole Life Insurance Policies and Certificates for Employer Groups
• Additional Standards for Waiver of Premium Benefits for Total Disability and Other Qualifying Events for Whole Life Insurance Policies and Certificates for Employer Groups

 If you have any questions regarding the Uniform Standards, please be sure to submit a pre-filing communication request, which can be found on the Creating a Compact Filing page of the Compact’s website.