iiprcdiih11oc

Name of Proposed Rule: Standards for Individual Disability Income Insurance Outline of Coverage

Subject Matter of Proposed Rule: The Standards for Individual Disability Income Insurance Outline of Coverage are intended to apply to the outline of coverage required by Section 8.I. of the NAIC Model Regulation to Implement the Accident and Sickness Insurance Minimum Standards Model Act (#171), entitled Disability Income Protection Coverage (Outline of Coverage) for disability income plans, buy-sell plans, key person plans and business overhead expense plans that are individually underwritten, including such plans that are marketed through employer and association sponsored groups (“multi-life” plans), as applicable. This section of the Regulation implements, interprets and makes specific the provisions of the NAIC Accident and Sickness Insurance Minimum Standards Model Act (#170) in prescribing a standard format and content for an outline of coverage.

Citation to Published Notices: Notice of this rule was published on April 29, 2011.

Name of persons requesting Public Hearing: Monday, September 26, 2011 via conference call.

Date and Location of Public Hearing, if any: Status of Proposed Rule (including upcoming meetings): The Proposed Standards have been issued for notice and comment. Written comments will be accepted on the Proposed Standards until June 28, 2011. Written requests for a public hearing must be received no later than May 19, 2011.

Date Approved by Management Committee:  September 26, 2011

Date Adopted by Commission: September 26, 2011

Effective Date of Rule: January 11, 2012

Original Version: Standards for Individual Disability Income Insurance Outline of Coverage

Memos from Product Standards Committee before recommendation:

Link to Comments submitted by members and the public:

States who have opted out of the Uniform Standards:

  • Connecticut
  • Montana