| Date: | 01/06/2023 |
|---|---|
| Organization: | Division of Insurance |
| Regulatory Authority: | MGL c. 175, § 20A |
| Official Version: | Purchase the official version |
The purpose of 211 CMR 59.00 is to establish uniform, national standards governing reserve financing arrangements pertaining to life insurance policies containing guaranteed non-level gross premiums, guaranteed non-level benefits and universal life insurance policies with secondary guarantees; and to ensure that, with respect to each such financing arrangement, funds consisting of Primary Security and Other Security are held by or on behalf of ceding insurers in
the forms and amounts required herein.