Regulation

Regulation 211 CMR 59.00: Term and universal life insurance reserve financing

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. 

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