|TO:||Life Insurers and Health Insurers licensed under M.G.L. c. 175; Fraternal Benefit Societies|
|FROM:||Linda Ruthardt, Commissioner of Insurance|
|DATE:||April 28, 2000|
|RE:||Chapter 33 of the Acts of 2000 which amends M.G.L. c. 175, § 22A|
|Chapter 33 of the Acts of 2000, an emergency law that took effect on February 18, 2000, amended section 22A of chapter 175 by inserting the following after the last sentence: "Nothing herein shall prohibit combining the following coverages, by rider or otherwise, within a single policy or contract: (a) life or endowment insurance or annuity, survivorship or pure endowment insurance subject to section 132, and (b) any form of accident and sickness insurance subject to section 108." This amendment permits, inter alia, a long-term care insurance policy to be combined with a life insurance product. The Division of Insurance has determined that such products will be reviewed and regulated in Massachusetts as follows:|
If you have questions about combination policies or this bulletin, please contact the following individuals at the Division of Insurance:
For reporting requirements: Robert Dynan, Director, Company Licensing, (617) 521-7420.
For life insurance: Henry Lieberman, Director, Life Policy Review, (617) 521-7340.
For long-term care insurance: Kevin Beagan, Director, Health Unit of the State Rating Bureau, (617) 521-7347.
For agents and brokers: Diane Silverman, Director, Agents and Brokers Section, (617) 521-7450.
Any other questions should be directed to Carol Balulescu, Counsel, State Rating Bureau, (617) 521-7348 or Mary Ellen Thompson, Assistant General Counsel, (617) 521-7364.