** This is a reminder notification — there is no action required on your part **
To All Brokerage General Agents in New York
Following the NAIC Guidelines, Companion Life Insurance Company is required to provide all of its New York producers with information about the expense allocation method used by the company in its illustrations for the state of New York. Please see the paragraph in bold below.
Pursuant to the life insurance Illustration Reform legislation adopted in NY, this communication is a reminder to you that Companion Life Insurance Company uses a Generally Recognized Expense Table (“GRET”) to allocate assumed overhead expenses for all life insurance illustrations. The GRET is based on fully allocated expenses representing a significant portion of insurance companies and is approved by the National Association of Insurance Commissioners.
Please contact your Sales Director or Sales Support at 1-800-693-6083 with any questions.