State RegulationsNY specificDifficulty 1/5
Under N.Y. Ins. Law §3230, a prohibition period runs from an insurer's transmission of accelerated death benefit application information to a third party. That prohibition period is:
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Answer & full 3-part explanation (select an option above, or peek)
Why A is correct
Under N.Y. Ins. Law §3230(a)(2), a 5-day prohibition period applies from the insurer's transmission of accelerated benefit application information to a third party. The same subsection requires the insurer to explain within 5 days of receipt the basis for paying or denying the benefit, and processing must be completed within 30 days under §3230(a)(1). These tight timeframes are enforced by the Department of Financial Services.
Why the other options are wrong
- B) 10 days is the minimum unconditional refund period under §3209(d)(7), not the third-party prohibition period.
- C) 15 days is the group life conversion notice window under §3220(a)(8), not the third-party prohibition period.
- D) 30 days is the accelerated benefit processing deadline under §3230(a)(1), not the third-party prohibition period.
Memory hook
Third-party transmission of ADB info triggers a 5-day prohibition.