N.Y. Comp. Codes R. & Regs. Tit. 11 §§ 42-2.12
Current through Register Vol. 46, No. 51, December 18, 2024
No policy of term life insurance shall be issued, renewed or continued beyond the last age in the mortality table for which minimum nonforfeiture values for whole life insurance are determined at the time of the term policy's issue. For a joint life first to die policy, this limitation is applied to the oldest age. For a joint life last to die policy this limitation is applied to the youngest age.
N.Y. Comp. Codes R. & Regs. Tit. 11 §§ 42-2.12