Rulemaking Notices
Written Comment Topic: Regulation 121 - Term and Universal Life Insurance Reserve Financing
Deadline: April 9, 2022
Time: 4:30 p.m.
Address: Jennifer Land, Louisiana Department of Insurance, Legal Division
P.O. Box 94214, Baton Rouge, LA 70804
Description of Accepted Action: The purpose of Regulation 121 is to implement the National Association of Insurance Commissioners (NAIC) Term and Universal Life Insurance Reserve Financing Model Regulation (#787) which sets forth rules and procedural requirements to establish uniform, national standards governing reserve financing arrangements pertaining to life insurance policies containing guaranteed nonlevel gross premiums or guaranteed nonlevel benefits and universal life insurance policies with secondary guarantees and to ensure that, with respect to each such financing arrangement, funds consisting of primary security and other security, are held by or on behalf of ceding insurers in the forms and amounts required.
Current Regulation: N/A
Accepted Changes: N/A
Adopted Regulation: N/A
Effective Date: Upon Publication
Notice of Intent: NOI - Regulation 121
Rule Summary Report: Summary Report - Regulation 121
Contact Person: Interested persons who wish to make comments may do so by writing to Jennifer Land, Staff Attorney, Louisiana Department of Insurance, P.O. Box 94214, Baton Rouge, LA 70804-9214, or by faxing comments to (225) 342-1632. Comments will be accepted through the close of business, 4:30 p.m., April 9, 2022.