News

On August 15th, the Management Committee of the Interstate Insurance Product Regulation Commission (Insurance Compact) voted to publish for notice and comment new uniform standards. More specifically, the uniform standards now being published are:

1. Group Whole Life Insurance Policy and Certificate Uniform Standards for Employer Groups
    
2. Uniform Standards for Group Whole Life Insurance Statement of Insurability Change Form
    
3. Group Whole Life Insurance Uniform Standards for Accidental Death Benefits
    
4. Group Whole Life Insurance Uniform Standards for Accelerated Death Benefits
    
5. Group Whole Life Insurance Uniform Standards for Accidental Death and Dismemberment Benefits
    
6. Uniform Standards for Riders, Endorsements or Amendments Used to Effect Group Whole Life Insurance Certificate Changes
    
7. Uniform Standards for Group Whole Life Insurance Enrollment Forms and Statement of Insurability Forms
    
8. Additional Standards for Graded Death Benefit for Whole Life Insurance Policies and Certificates for Employer Groups
    
9. Uniform Standards for Riders, Endorsements or Amendments Used to Effect Group Whole Life Insurance Policy Changes
    
10. Additional Standards for Waiver of Premium Benefits for Total Disability and Other Qualifying Events for Whole Life Insurance Policies and Certificates for Employer Groups

The Commission will accept written comments on these uniform standards until November 7, 2023. Further information regarding these uniform standards may be found on the Insurance Compact’s online Docket.