Replacement of Life Insurance & Annuities

[LOGO] State of North Dakota Office of the Commissioner of Insurance J. O. Wigen, Commissioner State Capitol Building Bismarck, North Dakota 58505 Phone: (701) 224-2440 BULLETIN 82-4 TO : ALL LIFE INSURANCE COMPANIES LICENSED TO DO BUSINESS IN THE STATE OF NORTH DAKOTA FROM: J. O. WIGEN, COMMISSIONER OF INSURANCE RE : REPLACEMENT OF LIFE INSURANCE & ANNUITIES DATE: August 17, 1982 The North Dakota Insurance Department has determined after consideration of the work of the Life Advisory Committee and the written and oral comments presented at the formal hearing and directly to the department that no rule will be promulgated with regard to replacement of life insurance or annuities at this time. It is the intention of the department to await the outcome of the ongoing work of the NAIC with regard to a new or amended model rule or act. In the event a major problem should arise with regard to replacements, prior to the NAIC acting, the department may consider implementing a rule at that time. JOW:pak