New York Regulation 210 requires special disclosure
New York has introduced Regulation 210 for all life products sold in New York effective March 19, 2018. This new regulation requires that a special disclosure document, “Current Scale of Non-Guaranteed Elements” be provided to the client prior to policy issue.
Important notes about this requirement:
- This document will generate with the policy packet for any life product sold in New York.
- The special disclosure indicates the current scale of non-guaranteed interest crediting rates and charges for a given policy.
- This disclosure also describes the process we would follow if we were to make an adverse change to the current scale of non-guaranteed interest crediting rates or charges.
Let’s connect. Contact the National Sales Desk at 800-654-4278, or your Life RVP. Visit us at advisors.principal.com.
Insurance issued by Principal National Life Insurance Co. (except in NY) and Principal Life Insurance Co. Principal National and Principal Life are members of the Principal Financial Group®, Des Moines, IA 50392.
For financial professional use only. Not for distribution to the public.
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