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CUNA-128479621 - Arkansas Insurance Department - insurance arkansas

CUNA-128479621 - Arkansas Insurance Department - insurance arkansas 2025

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The document outlines the filing details for CMFG Life Insurance Company's individual term life insurance products, specifically the 'CMFG 2012 UT80/UT80EZ' policy forms. It includes information on the product's features, application process, premium rates, and compliance with Arkansas insurance regulations. The filing was submitted for review and approval, detailing various forms related to the insurance policy, including applications and riders. The document also addresses changes in ownership, beneficiary designations, and provides a comprehensive overview of the terms and conditions associated with the policies.

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What does the Arkansas Insurance Department do?

The primary mission of the State Insurance Department shall be consumer protection through insurer solvency and market conduct regulation, and fraud prosecution and deterrence.

How long does an insurance company have to investigate a claim in Arkansas?

Arkansas Commissioner of Insurance Authority: Arkansas Code, Title 23, Chapter 61, Section 102 Selection Method: Appointed by governor Current Officeholder Alan McClain11 more rows

What is the function of the insurance department?

The major goals of insurance departments are to ensure fairness in rates and access to coverage, fairness and timeliness in claims handling, solvency of carriers, education of professionals, and to educate consumers. The insurance department must authorize an insurer before it can issue policies in any given state.

What is it called when an insurance company refuses to pay a claim?

45 Calendar Days Your insurer must complete investigation of a claim within forty-five (45) calendar days after notification of claim, unless such investigation cannot reasonably be completed within such time.