Bill > A07689

This bill amends the New York insurance law to protect individuals applying for life insurance by preventing insurers from cancelling policies based on medical conditions that were fully disclosed during the application process. Specifically, when an applicant submits a physician's statement or medical records detailing their medical history at the time of application, and the insurer or its agent accepts that application, they are legally prohibited from subsequently rejecting the application or cancelling the policy solely because the insured person has a medical condition that was originally disclosed. This provision aims to provide more transparency and fairness in the life insurance application process, ensuring that individuals who are upfront about their medical history are not unfairly penalized or denied coverage after an initial application is accepted. The bill would go into effect immediately upon passage, offering immediate protection to life insurance applicants in New York State.

Business and Industry

https://www.nysenate.gov/legislation/bills/2025/A7689