NY A07252

Limits the information insurance agents can use to determine suitability for term life insurance policies (with no cash value) to only the consumer's age and annual income

Prohibits the Superintendent of Insurance from promulgating or enforcing any regulations that would require additional suitability information beyond age and income for term life insurance purchases

Nullifies any existing provisions of 11 NYCRR Part 224 (insurance regulations) that conflict with these new limitations, requiring the superintendent to amend such regulations

Reflects legislative intent to increase availability of term life insurance in New York, citing findings that the state trails behind the rest of the country in term life insurance sales