If you live in New York and have a life insurance policy or annuity contract, you may be eligible for certain accommodations if experiencing financial hardship as a result of the COVID-19 pandemic under Governor Cuomo’s Executive Order 202.13 and recent amendments to regulations issued by the New York State Department of Financial Services.
As part of the accommodations, your insurer is required to:
- Extend the applicable grace period for the payment of premiums and fees by 90 days
- Not impose any late fees or report you to a credit reporting or a debt collection agency for failing to make a timely premium payment
- Permit you to pay the overdue premium over a 12-month period
- Provide a life policyholder with 90 days to exercise rights or benefits under the applicable life insurance policy or annuity contract for any life policy/contract holder who is unable to timely exercise their rights or benefits as a result of the COVID-19 pandemic
Read the Executive Order and regulations (PDF) on the State of New York’s government websites.
To get help or questions answered
For help, or if you have questions, contact your insurer directly at the number below; you may be asked to provide documentation about your financial hardship as a result of COVID-19.