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Subject Matter of Rule: The Standards for Accelerated Death Benefits provide for the advance payment of some or all of the death proceeds payable under a life insurance policy upon the occurrence of a qualifying event.  The Standards apply to the benefit feature whether added to a policy by rider, endorsement, amendment or incorporation into a policy form.  The Standards include required and optional provisions for the benefit, such as any applicable exclusions, incontestability, reinstatement and termination.  The Standards also require the submission of an actuarial certification that the value and premium of the accelerated death benefit is incidental to the life coverage.

Citation to Published Notices: Notice of this Rule was published on December 22, 2006.

Name of persons requesting Public Hearing Industry Advisory Committee

Date and Location of Public Hearing, if any: February 23, 2007, 12:30 CT/1:30 ET via conference call

Status of Rule (including upcoming meetings):  This operating procedure has been issued for notice and comment.  Written comments will be accepted on this proposed new operating procedure until February 20, 2007.  Written requests for a public hearing must be received no later than January 11, 2007.A public hearing to receive comments is scheduled for February 23, 2007. This proposed rule may be considered at a Management Committee meeting via conference call scheduled for February 26, 2007 and a Commission meeting via conference call scheduled for February 28, 2007. No further action is necessary on this Proposed Rule.

Date Approved by Management Committee: February 26, 2007 (Explanatory Statement)

Date Adopted by Commission: February 28, 2007

Effective Date of Rule: May 31, 2007

Link to Comments submitted by members and the public:
Industry Advisory Committee

Click to Expand Amendments to Uniform Standards
Click to Expand 5-Year Review Amendments Adopted August 2014

Date Amendment Approved by Management Committee: August 15, 2014

Date Amendment Adopted by Commission: August 15, 2014

Effective Date of Amendment to Rule: December 4, 2014

Information Regarding the 5-Year Review Amendments to the Standards:

Name of Proposed Rule: Amendments to Additional Standards for Accelerated Death Benefits for Individual Life Insurance Policies

Subject Matter of Proposed Rule: The purpose of this amendment is to revise the Standards for Accelerated Death Benefits for individual life insurance in accordance with the 5-year Commission Review of Rules required by § 119 of the Rule for the Adoption, Amendment and Repeal of Rules for the Interstate Insurance Product Regulation Commission. The procedures adopted by the Management Committee in March 2012 for implementing the 5-year review process limit the scope of review under Section 119 to identifying "the need for continuation, repeal or amendment of the rule based primarily on whether circumstances or underlying assumptions have changed since the last time the rule was adopted, amended or reviewed. See the Transmittal Memo for a more detailed description of the proposed amendments.

Citation to Published Notices: Notice of this rule was published on April 14, 2014

Name of persons requesting Public Hearing:

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 13, 2014. Written requests for a public hearing must be received no later than May 4, 2014.

Date Approved by Management Committee:

Date Adopted by Commission:

Effective Date of Rule:

Report and Recommendations:

Link to Comments submitted by members and the public: