Assembly Bill A5998

2023-2024 Legislative Session

Prohibits insurers from cancelling life insurance policies where certain medical information is provided to the insurer at the time of application

download bill text pdf

Sponsored By

Current Bill Status - In Assembly Committee

  • Introduced
    • In Committee Assembly
    • In Committee Senate
    • On Floor Calendar Assembly
    • On Floor Calendar Senate
    • Passed Assembly
    • Passed Senate
  • Delivered to Governor
  • Signed By Governor

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2023-A5998 (ACTIVE) - Details

Current Committee:
Assembly Insurance
Law Section:
Insurance Law
Laws Affected:
Add §3245, Ins L
Versions Introduced in Other Legislative Sessions:
2009-2010: A3343
2011-2012: A1858
2013-2014: A5638
2015-2016: A6013
2017-2018: A2063
2019-2020: A4542
2021-2022: A3420

2023-A5998 (ACTIVE) - Summary

Prohibits insurers from cancelling life insurance policies based on a medical condition that was disclosed in the application for insurance.

2023-A5998 (ACTIVE) - Bill Text download pdf 

                             
                     S T A T E   O F   N E W   Y O R K
 ________________________________________________________________________
 
                                   5998
 
                        2023-2024 Regular Sessions
 
                           I N  A S S E M B L Y
 
                              March 30, 2023
                                ___________
 
 Introduced  by  M.  of A. COOK, PEOPLES-STOKES, WEPRIN, DINOWITZ, SIMON,
   COLTON, BICHOTTE HERMELYN, EPSTEIN, HYNDMAN, TAYLOR,  REYES,  BUTTENS-
   CHON,  WILLIAMS, JACKSON, LUNSFORD, DICKENS, LAVINE -- Multi-Sponsored
   by -- M.   of A. AUBRY, PRETLOW --  read  once  and  referred  to  the
   Committee on Insurance

 AN  ACT  to  amend the insurance law, in relation to the cancellation of
   life insurance policies
 
   THE PEOPLE OF THE STATE OF NEW YORK, REPRESENTED IN SENATE AND  ASSEM-
 BLY, DO ENACT AS FOLLOWS:
 
   Section  1.  The insurance law is amended by adding a new section 3245
 to read as follows:
   § 3245. CANCELLATION OF LIFE INSURANCE POLICIES.  NOTWITHSTANDING  ANY
 PROVISION OF LAW TO THE CONTRARY, ANY PERSON WHO MAKES APPLICATION FOR A
 POLICY  OF  LIFE  INSURANCE  ISSUED UNDER THE PROVISIONS OF THIS CHAPTER
 SHALL SUBMIT TO THE INSURER OR AN AGENT OF THE INSURER, AT THE  TIME  OF
 SUCH  APPLICATION,  A  STATEMENT  FROM  A PHYSICIAN LICENSED TO PRACTICE
 MEDICINE UNDER THE LAWS OF THIS STATE, OR THE MEDICAL  RECORDS  OF  SUCH
 PERSON, WHICH CONTAIN THE MEDICAL HISTORY OF SUCH PERSON. IF THE INSURER
 OR  HIS AGENT ACCEPTS AN APPLICATION FROM A PERSON WHO HAS PROVIDED SUCH
 A STATEMENT OR SUCH MEDICAL RECORDS, THEN THE INSURER AND/OR  HIS  AGENT
 SHALL  BE  PROHIBITED  FROM  SUBSEQUENTLY  REJECTING SUCH APPLICATION OR
 CANCELLING ANY POLICY ISSUED ON THE  GROUNDS  THAT  THE  INSURED  HAS  A
 CERTAIN  MEDICAL CONDITION PROVIDED THAT SUCH CONDITION WAS DISCLOSED IN
 THE STATEMENT OR MEDICAL RECORDS SUBMITTED.
   § 2. This act shall take effect immediately.
 
 
 
  EXPLANATION--Matter in ITALICS (underscored) is new; matter in brackets
                       [ ] is old law to be omitted.
                                                            LBD08248-01-3

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