The Act of June 28, 2018, No. 48 (H.B. 152), requires the Pennsylvania Insurance Department and all insurance companies with life insurance policies or annuity contracts in force in Pennsylvania to participate in the Life Policy Locator Service provided by the National Association of Insurance Commissioners.
The Act also amends the rules requiring that recommendations for the purchase or replacement annuity contracts be suitable to the consumer to expand the scope and substance of those rules.