Life and Annuity FAQ

• If I fill out the Certification of Compliance for a product we want to certify do I also have to send in a Statement of Compliance?
  Yes. Please review Regulation 78 - 10109.C.2.
• What is a complete filing for Life & Annuity?
  A complete filing is the filing of a single insurance product, including any required filing fees, a basic insurance policy form, application form and supplemental application form, if any, to be attached to the policy or to be part of the contract, any life or health and accident rider or endorsement forms, all items required under subsection Regulation 78 - 10109.C hereof, General Filing Requirements, and any other requirements as may be set forth in the applicable Statement of Compliance.
• What is an exception filing for Life & Annuity?
  Please see Regulation 78 - 10109.D.1-5. An exception filing is an exception to the requirements for a complete filing. These filings include applications, assumption certificates and riders/endorsements.
• For Life & Annuity do I have to send in previously approved riders/endorsements/applications when I'm sending in a new contract?
  Yes. Please see Regulation 78 - 10109.C.2.a (for individual) and Regulation 78 - 10109.C.2.b (for group). Also, please review Regulation 78 - 10109.D 1 & 3. In this section it explains that if the riders/endorsements/applications are to be used with any subsequently filed basic insurance or annuity policy forms as needed to constitute a complete filing, then these previously approved forms must be sent in.
• For Life & Annuity, if I alter or change a contract can I send in revised insert pages?
  No. Please see Regulation 78 - 10109.K Maintenance or Records; Alteration of Forms Prohibited. The alteration of, or any change to, any such form approved by the department is prohibited. Any such altered or changed form shall be submitted to the department as a new filing, and shall comply with all provisions of this Section applicable to a new filing. The only exception to this is if the change is a typographical correction or format improvement that does not affect the terms, provisions or clarity of the product.