Utah Informational Insurance Regulatory Bulletins: Premium Finance Agreement Default, Allowable Surrender Charge Schedules for Individual Deferred Annuities, Producers Authorized to Sell on the Utah Health Insurance Exchange
May 19, 2011
The Utah Insurance Department has posted the following informational bulletins as of May 19, 2011:
- 2011-1: Premium Finance Agreement Default
- Clarifies that, at the default of a premium finance agreement, a premium finance company may only obtain an interest in the life insurance policy equal to the amount of the default.
- 2011-2: Allowable Surrender Charge Schedules for Individual Deferred Annuities
- Clarifies provisions of the law relating to allowable surrender charge schedules in various product designs of non-registered, general account contracts, including traditional fixed annuities, index annuities, deposit type annuities and market value adjusted annuities.
- 2011-3: Producers Authorized to Sell on the Health Insurance Exchange
- Provides guidance to insurers and producers regarding the requirements for a producer to be authorized to sell products on the Utah Health Insurance Exchange
- Provides guidance to insurers and producers regarding the requirements for a producer to be authorized to sell products on the Utah Health Insurance Exchange
Should you have any comments or questions, please contact Colodny Fass.