Enacts the TEXAS Act, requiring life insurance companies to consider state-specific health data in setting rates.

The TEXAS Act mandates that life insurance companies operating in New York consider state-specific health, morbidity, and mortality data when setting premiums. It also requires the superintendent of financial services to establish a standard weight for this data in rate calculations. This act will take effect on January 1 following its enactment and applies to policies issued, renewed, or amended on or after that date.

Enacts the TEXAS Act, requiring life insurance companies to consider state-specific health data in setting rates.

The TEXAS Act mandates that life insurance companies operating in New York consider state-specific health, morbidity, and mortality data when setting premiums. It also requires the superintendent of financial services to establish a standard weight for this data in rate calculations. This act will take effect on January 1 following its enactment and applies to policies issued, renewed, or amended on or after that date.