NY to issue tougher regs on death benefits: Source
Will make lump-sum payment the default option; policyholders must opt in for retained-asset accounts
Life insurers will face tighter restrictions against holding beneficiaries' funds under a directive to be made by the New York Department of Financial Services, according to a person with knowledge of the plan.
Insurers will be required to issue a check to the survivor as the default option, under
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