Sec. 42-2.10. Supplemental yearly renewable term insurance

In the case of a level death benefit term policy where uniform premiums are payable each year for an initial period followed by a yearly renewable term premium paying period, at the option of the insurer the yearly renewable term portion may be considered supplemental insurance for purposes of section 4221(c)(2) of the Insurance Law, provided that the premiums increase each year and no nonforfeiture values would be required by section 4221 of the Insurance Law or this Subpart for the yearly renewable term portion if issued on a stand-alone basis.