New Mexico Amended and Restated Principal Underwriting Agreement regarding Issuance of variable annuity contracts and life insurance

• Category: Corporations - Public - Agreements - Underwriting
• State: Multi-State
• Control #: US-EG-9360
• Format: Word; Rich Text

Description

Underwriting Agreement between Lincoln Life and Annuity Company of New York and Lincoln Financial Advisors Corporation regarding the issuance of public certain variable annuity contracts and variable life insurance The New Mexico Amended and Restated Principal Underwriting Agreement for the Issuance of Variable Annuity Contracts and Life Insurance is a comprehensive document that outlines the terms and conditions surrounding the sale and distribution of these financial products in the state of New Mexico. It serves as a crucial regulatory framework for insurance companies and their respective brokers, ensuring compliance with applicable laws and regulations. This agreement is essential for both parties involved in the underwriting process. It provides guidelines and procedures that must be followed to ensure the proper sale and distribution of variable annuity contracts and life insurance policies. The agreement addresses various aspects, including sales practices, commissions, compensation, disclosure requirements, and compliance standards, among other important provisions. The New Mexico Amended and Restated Principal Underwriting Agreement may consist of multiple types, each catering to specific product variations or modifications. Some potential variations include: 1. Variable Annuity Underwriting Agreement: This agreement specifically focuses on the underwriting of variable annuity contracts, which are insurance contracts combined with investment components. It covers the unique features and regulations associated with variable annuities, such as investment options, market risk, and surrender charges. 2. Life Insurance Underwriting Agreement: This type of agreement pertains to the underwriting of life insurance policies. It outlines the terms and conditions for issuing life insurance coverage, including premium calculations, death benefit provisions, policy riders, and beneficiary designations. 3. Combined Variable Annuity and Life Insurance Underwriting Agreement: In cases where insurance companies offer variable annuity contracts and life insurance policies as bundled products, this agreement combines the specifications of both types. It ensures compliance with regulations and guidelines specific to each product, handling matters such as policy structuring, asset allocation, insurance coverage, and investment management. The New Mexico Amended and Restated Principal Underwriting Agreement serves as a crucial legal document for insurance companies, brokers, and policyholders, safeguarding their rights and ensuring the responsible sale and distribution of variable annuity contracts and life insurance policies in the state. By adhering to the provisions outlined in this agreement, both parties can engage in a transparent and compliant manner, fostering trust and protection within the insurance industry.

The New Mexico Amended and Restated Principal Underwriting Agreement for the Issuance of Variable Annuity Contracts and Life Insurance is a comprehensive document that outlines the terms and conditions surrounding the sale and distribution of these financial products in the state of New Mexico. It serves as a crucial regulatory framework for insurance companies and their respective brokers, ensuring compliance with applicable laws and regulations. This agreement is essential for both parties involved in the underwriting process. It provides guidelines and procedures that must be followed to ensure the proper sale and distribution of variable annuity contracts and life insurance policies. The agreement addresses various aspects, including sales practices, commissions, compensation, disclosure requirements, and compliance standards, among other important provisions. The New Mexico Amended and Restated Principal Underwriting Agreement may consist of multiple types, each catering to specific product variations or modifications. Some potential variations include: 1. Variable Annuity Underwriting Agreement: This agreement specifically focuses on the underwriting of variable annuity contracts, which are insurance contracts combined with investment components. It covers the unique features and regulations associated with variable annuities, such as investment options, market risk, and surrender charges. 2. Life Insurance Underwriting Agreement: This type of agreement pertains to the underwriting of life insurance policies. It outlines the terms and conditions for issuing life insurance coverage, including premium calculations, death benefit provisions, policy riders, and beneficiary designations. 3. Combined Variable Annuity and Life Insurance Underwriting Agreement: In cases where insurance companies offer variable annuity contracts and life insurance policies as bundled products, this agreement combines the specifications of both types. It ensures compliance with regulations and guidelines specific to each product, handling matters such as policy structuring, asset allocation, insurance coverage, and investment management. The New Mexico Amended and Restated Principal Underwriting Agreement serves as a crucial legal document for insurance companies, brokers, and policyholders, safeguarding their rights and ensuring the responsible sale and distribution of variable annuity contracts and life insurance policies in the state. By adhering to the provisions outlined in this agreement, both parties can engage in a transparent and compliant manner, fostering trust and protection within the insurance industry.