Bill Text: NY A05998 | 2023-2024 | General Assembly | Introduced

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Bill Title: Prohibits insurers from cancelling life insurance policies based on a medical condition that was disclosed in the application for insurance.

Spectrum: Partisan Bill (Democrat 19-0)

Status: (Introduced) 2024-01-03 - referred to insurance [A05998 Detail]

Download: New_York-2023-A05998-Introduced.html

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                STATE OF NEW YORK
        ________________________________________________________________________

                                          5998

                               2023-2024 Regular Sessions

                   IN ASSEMBLY

                                     March 30, 2023
                                       ___________

        Introduced  by  M.  of A. COOK, PEOPLES-STOKES, WEPRIN, DINOWITZ, SIMON,
          COLTON, BICHOTTE HERMELYN, EPSTEIN, HYNDMAN, TAYLOR,  REYES,  BUTTENS-
          CHON,  WILLIAMS, JACKSON, LUNSFORD, DICKENS, LAVINE -- Multi-Sponsored
          by -- M.   of A. AUBRY, PRETLOW --  read  once  and  referred  to  the
          Committee on Insurance

        AN  ACT  to  amend the insurance law, in relation to the cancellation of
          life insurance policies

          The People of the State of New York, represented in Senate and  Assem-
        bly, do enact as follows:

     1    Section  1.  The insurance law is amended by adding a new section 3245
     2  to read as follows:
     3    § 3245. Cancellation of life insurance policies.  Notwithstanding  any
     4  provision of law to the contrary, any person who makes application for a
     5  policy  of  life  insurance  issued under the provisions of this chapter
     6  shall submit to the insurer or an agent of the insurer, at the  time  of
     7  such  application,  a  statement  from  a physician licensed to practice
     8  medicine under the laws of this state, or the medical  records  of  such
     9  person, which contain the medical history of such person. If the insurer
    10  or  his agent accepts an application from a person who has provided such
    11  a statement or such medical records, then the insurer and/or  his  agent
    12  shall  be  prohibited  from  subsequently  rejecting such application or
    13  cancelling any policy issued on the  grounds  that  the  insured  has  a
    14  certain  medical condition provided that such condition was disclosed in
    15  the statement or medical records submitted.
    16    § 2. This act shall take effect immediately.



         EXPLANATION--Matter in italics (underscored) is new; matter in brackets
                              [ ] is old law to be omitted.
                                                                   LBD08248-01-3